Viridian enters veligrotug, VRDN-003 collaboration and license pact with Kissei

Viridian Therapeutics (VRDN) announced that it has entered into an exclusive collaboration and license agreement with Kissei Pharmaceutical to develop and commercialize veligrotug and VRDN-003 in Japan. Both molecules are anti-insulin-like growth factor-1 receptor antibodies for the potential treatment of patients with thyroid eye disease and VRDN-003 is a subcutaneous, half-life extended anti-IGF-1R antibody with the same binding domain as veligrotug. Under the terms of the agreement, Viridian will grant Kissei an exclusive license to develop and commercialize veligrotug and VRDN-003 in Japan. Viridian will receive an upfront cash payment of $70M, with the potential to receive an additional $315M in development, regulatory, and commercial milestone payments, as well as tiered royalties on net sales in Japan with percentages ranging from the 20s to mid-30s. Kissei will be responsible for all development, regulatory, and commercialization activities, and associated costs, in Japan.