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Viridian Therapeutics Announces Collaboration and License Agreement with Kissei Pharmaceutical to Develop and Commercialize Veligrotug and VRDN-003 in Japan with an Upfront Payment of $70 Million and up to $315 Million in Milestone Payments
- Kissei obtains an exclusive license to develop and commercialize veligrotug and VRDN-003 in Jap...
About this update from Viridian Metals Inc
[{"type":"text","content":"Viridian Therapeutics Announces Collaboration and License Agreement with Kissei Pharmaceutical to Develop and Commercialize Veligrotug and VRDN-003 in Japan with an Upfront Payment of $70 Million and up to $315 Million in Milestone Payments\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n - Kissei obtains an exclusive license to develop and commercialize veligrotug and VRDN-003 in Japan -\n \n\n\n\n - Viridian to receive an upfront payment of $70 million -\n \n\n\n\n - Additionally, Viridian is eligible to receive up to an additional $315 million in development, regulatory, and commercial milestone payments as well as tiered royalties on net sales in Japan in the 20s to mid-30s percent -\n \n\n\n\n - Collaboration combines Viridian’s potential best-in-class portfolio in thyroid eye disease with Kissei’s development and commercialization expertise in rare diseases in Japan -\n \n\n\n\n\n Viridian Therapeutics, Inc. (Nasdaq: VRDN), a biopharmaceutical company focused on discovering, developing, and commercializing potential best-in-class medicines for serious and rare diseases, today announced that it has entered into an exclusive collaboration and license agreement with Kissei Pharmaceutical Co., Ltd. (“Kissei”) to develop and commercialize veligrotug and VRDN-003 in Japan. Both molecules are anti-insulin-like growth factor-1 receptor (IGF-1R) antibodies for the potential treatment of patients with thyroid eye disease (TED), and VRDN-003 is a potential best-in-class, subcutaneous, half-life extended anti-IGF-1R antibody with the same binding domain as veligrotug. TED is an autoimmune condition characterized by inflammation, growth, and damage to tissues around and behind the eye, often causing swelling, discomfort, and double vision, among other signs and symptoms.\n \n\n “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, Viridian’s President and CEO. “Kissei has an established strong track record of successfully developing and commercializing in-licensed, rare disease medicines. Kissei shares our enthusiasm and commitment to these programs, and we believe Kissei is a...