Viridian Therapeutics, Inc. has announced a major collaboration and license agreement with Kissei Pharmaceutical Co., Ltd. to develop and commercialize two investigational therapies — veligrotug and VRDN-003 — in Japan for the treatment of thyroid eye disease (TED). The deal includes an upfront payment of $70 million and up to $315 million in potential development, regulatory, and commercial milestone payments, along with tiered royalties on future net sales.
Both veligrotug and VRDN-003 are anti-IGF-1R antibodies. TED is a serious autoimmune condition that causes inflammation and damage around the eyes, often leading to swelling, pain, and double vision. VRDN-003 is a next-generation, subcutaneously administered, half-life-extended antibody that shares the same binding domain as veligrotug, aiming to offer improved convenience and efficacy.
Under the terms of the agreement, Kissei will receive exclusive rights to develop and commercialize the two therapies in Japan and will assume all associated costs. Viridian will retain global rights outside Japan and benefit from royalties ranging from the 20% to mid-30% range on Japanese net sales.
Steve Mahoney, President and CEO of Viridian, commented, “We are thrilled to partner with Kissei after a competitive selection process. Their experience in rare diseases and strong commercial infrastructure make them an ideal partner to bring these potential best-in-class therapies to TED patients in Japan.”
Mutsuo Kanzawa, Chairman and CEO of Kissei, added, “We are excited by the strong Phase 3 data behind veligrotug and the promise of VRDN-003. This partnership supports our commitment to providing innovative treatments for underserved patient populations in Japan.”
The agreement highlights Kissei’s strategy to expand into rare and difficult-to-treat diseases and reflects Viridian’s continued global push to bring transformative therapies for TED to new markets.
Renexes LLC served as transaction advisor to Viridian.