Astellas Pharma Inc. and 4D Molecular Therapeutics, Inc. (Nasdaq: FDMT)(4DMT) have entered into a license agreement, allowing the use of 4DMT's intravitreal retinotropic R100 vector for rare monogenic ophthalmic diseases. This includes one initial genetic target, with the possibility to add two more targets in the future.

As part of the deal, Astellas will conduct research, development, manufacturing, and commercialization activities using 4DMT's R100 vector. In return, 4DMT will receive an upfront payment of $20 million, potential option fees and milestones of up to $942.5 million, and royalties on net sales of licensed products.

In pre-market, $FDMT is currently trading at $19.32, reflecting an increase of $0.56 (+2.99%)

In other news, ADC Therapeutics SA (NYSE: ADCT) has announced a voluntary pause in enrollment for its Phase 2 LOTIS-9 clinical trial testinf ZYNLONTA and and rituximab in unfit or frail patients with previously untreated diffuse large B-cell lymphoma (DLBCL). The decision comes in response to potential respiratory-related adverse events observed in the trial, including seven Grade 5 fatal events. The company has noted that all patients with fatal events had significant underlying respiratory and/or cardiac co-morbidities and were over 80 years old.

Further evaluation of the data is underway, and ADC Therapeutics has informed investigators and regulatory authorities of the pause in enrollment. No additional data from the trial is expected to be reported by the end of the year.

$ADCT was trading at $1.92 in pre-market, down $0.45 (18.98%) following the announcement.

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