Viridian, Kissei Partner on TED Therapies in Japan

Viridian Therapeutics has entered into an exclusive collaboration and license agreement with Kissei Pharmaceutical Co., Ltd. to develop and commercialize two investigational antibody therapies, veligrotug and VRDN-003, in Japan for the treatment of thyroid eye disease (TED).

Focused Development of Anti-IGF-1R Antibodies

Both veligrotug and VRDN-003 are anti-insulin-like growth factor-1 receptor (IGF-1R) monoclonal antibodies currently in development for TED. VRDN-003 is a half-life extended, subcutaneous formulation that shares the same binding domain as veligrotug and is also being evaluated for TED. These candidates represent potential best-in-class therapies for managing the autoimmune condition, which causes inflammation and tissue remodeling behind the eyes.

Agreement Terms and Financial Framework

Under the terms of the agreement, Viridian will grant Kissei exclusive rights to develop and commercialize both veligrotug and VRDN-003 in Japan. The financial structure of the deal includes:

• An upfront cash payment of $70 million to Viridian

• Up to $315 million in development, regulatory, and commercial milestone payments

• Tiered royalties on net sales in Japan, ranging from the low 20s to mid-30s percentage range

Kissei will assume full responsibility for all development, regulatory, and commercialization activities in Japan, including the associated costs.

Executive Commentary

Steve Mahoney, President and CEO of Viridian Therapeutics, expressed confidence in the collaboration:

“After running a very competitive partnering process, we are thrilled to partner with Kissei to bring these potential best-in-class medicines to TED patients in Japan. Kissei has a strong track record of successfully developing and commercializing rare disease medicines. Their expertise and commitment make them the ideal partner for advancing these important programs in Japan.”