WALTHAM, Mass. — Viridian Therapeutics, Inc. has entered into an exclusive collaboration and licensing agreement with Japan-based Kissei Pharmaceutical Co., Ltd. to develop and commercialize its thyroid eye disease (TED) therapies, veligrotug and VRDN-003, in the Japanese market.
Under the terms of the agreement, Viridian will receive a $70 million upfront payment and is eligible for up to $315 million in additional milestone payments tied to development, regulatory, and commercial achievements. The company will also earn tiered royalties on net sales in Japan ranging from the low 20s to mid-30s percentage-wise.
The partnership gives Kissei exclusive rights to develop and market the two monoclonal antibodies in Japan. Both veligrotug and VRDN-003 target the insulin-like growth factor-1 receptor (IGF-1R), a key pathway implicated in TED, a debilitating autoimmune condition that causes inflammation and damage to tissue around the eyes.
“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,” said Steve Mahoney, President and CEO of Viridian. “Kissei has a strong track record of developing and commercializing rare disease therapies, and we believe they are an ideal partner for this market.”
VRDN-003 is a subcutaneous, half-life extended version of veligrotug that shares its binding domain. Veligrotug has already demonstrated strong results in Phase 3 clinical trials, including THRIVE and THRIVE-2.
“As we seek to further expand our pipeline in rare and intractable diseases, we are very excited by the potential of veligrotug and VRDN-003 to address the significant unmet needs of TED patients in Japan,” said Mutsuo Kanzawa, Chairman and CEO of Kissei.
Kissei will assume full responsibility for the development, regulatory approval, and commercialization of both therapies in Japan. Renexes LLC advised Viridian on the transaction.
