The agreement allows the biotechnology firm to draw an initial $20 million immediately, with further tranches contingent on specific development milestones and lender approval. Access to the remaining funds remains open through June 2027, providing a financial cushion that extends the company’s operational runway well into the second half of 2028.

Simultaneous to the financing news, the company reached a key clinical milestone by completing enrollment for its second Phase 3 trial of 4D-150. This candidate is engineered as a potential backbone therapy for wet age-related macular degeneration, aiming to sustain anti-VEGF biologic delivery in the retina through a single intravitreal injection.