Viridian Partners With Kissei In $385 Mln Japan Deal For Thyroid Eye Disease Treatments

(RTTNews) - Viridian Therapeutics, Inc. (VRDN), a biopharmaceutical company, on Wednesday announced that it has entered an exclusive collaboration and licensing deal with Kissei Pharmaceutical to develop and market veligrotug and VRDN-003 in Japan.

Under the agreement, Viridian will receive a $70 million upfront payment and could earn up to $315 million in milestone payments, plus tiered royalties ranging from the 20s to mid-30s percentage on net sales.

Kissei will handle all development, regulatory, and commercialization efforts and costs in Japan.

These anti-IGF-1R antibodies target thyroid eye disease or TED, an autoimmune disorder that causes inflammation and tissue damage around the eyes.

VRDN-003, a subcutaneous, half-life extended version, shares the same binding domain as veligrotug and is being positioned as a potential best-in-class therapy.

In the pre-market trading, Viridian Therapeutics is 0.18% lesser at $16.76 on the Nasdaq.