Business
Viridian Therapeutics Reports First Quarter 2021 Financial Results and Provides Corporate Updates
VRDN-001 and VRDN-002 programs for Thyroid Eye Disease (TED) progressing; on track for IND filings in fourth quarter of 2021Reported $117 million in cash,
About this update from Viridian Therapeutics, Inc.
[{"type":"text","content":"VRDN-001 and VRDN-002 programs for Thyroid Eye Disease (TED) progressing; on track for IND filings in fourth quarter of 2021Reported $117 million in cash, cash equivalents and short-term investments as of March 31, 2021; cash runway into 2024 BOULDER, Colo., May 06, 2021 (GLOBE NEWSWIRE) -- Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biopharmaceutical company advancing new treatments for patients suffering from serious diseases but underserved by current therapies, today announced financial results for the first quarter of 2021 and provided corporate updates. “The first quarter saw significant milestones both for our TED programs and for our corporate growth,” said Jonathan Violin, Ph.D., President and Chief Executive Officer of Viridian. “Following the addition of Dr. Barrett Katz as our Chief Medical Officer earlier this quarter, we have assembled our development and clinical operations team and are prepared to rapidly advance the clinical development of VRDN-001 and VRDN-002.” First Quarter 2021 and Recent Operational Highlights VRDN-001: Viridian’s most advanced product candidate is VRDN-001, a monoclonal antibody targeting the insulin-like growth factor-1 receptor (IGF-1R), a clinically and commercially validated target for the treatment of Thyroid Eye Disease (TED). This antibody had previously been developed in oncology as AVE-1642 and studied in over 100 patients. The pharmacokinetics, pharmacodynamics, safety, and tolerability data from that clinical program has informed the Company’s plans to evaluate VRDN-001 in TED. IND-enabling activities remain on track and the Company plans to file an IND in the fourth quarter of 2021, with initial proof of concept data in patients expected in the second quarter of 2022, followed by dose exploration to inform potential intravenous and subcutaneous dosing paradigms. VRDN-002: Viridian’s second product candidate, VRDN-002, is a distinct anti-IGF-1R antibody that incorporates half-life extension technology and is designed to support administration as a convenient, low volume, subcutaneous injection. IND-enabling activities remain on track and the Company plans to file an IND by the end of 2021. The Company expects to initiate clinical development with a Phase 1 single ascending dose trial to explore safety, tolerability, pharmacokinetics, and target engagement of VRDN-002 in health...