Astellas Pharma has licensed the ex-US rights to FX-322 from Frequency Therapeutics for the treatment of sensorineural hearing loss for a total potential deal value of US$625 M. The deal comes two years after Astellas exercised the option rights to gain the worldwide rights to AU-935 following positive preclinical data; Frequency raised US$62 M in Series C financing just days after announcing the Astellas deal.