4D Molecular buys rights to Fortress Biotech's gene therapy, shares slip

4D Molecular Therapeutics

24/04/2023 18:59

** Shares of gene therapy producer 4D Molecular Therapeutics  FDMT.O  down 3.7% at $21;
biopharma co Fortress Biotech  FBIO.O  shares up 6.8% at 76 cents
    ** FDMT buys rights to an experimental gene therapy, developed by FBIO's unit Aevitas, for
certain complex autoimmune diseases where the immune system becomes overly active
    ** FDMT will pay Aevitas up to $140 million in potential late-stage development, regulatory
and sales milestones
    ** YTD, FDMT down 4.8%, FBIO up 14.9%

 (Reporting by Nandhini Srinivasan in Bengaluru)
 ((nandhini.srinivasan@thomsonreuters.com))