Kissei Pays Viridian $70 Million for Japan Rights to TED Drugs

Viridian Therapeutics has granted Kissei Pharmaceutical an exclusive licence to develop and commercialise its thyroid eye disease drug candidates veligrotug and VRDN-003 in Japan. The Japanese company will pay $70 million upfront and up to $315 million in development, regulatory and commercial milestones, in addition to tiered royalties ranging from the low-20s to mid-30s percent on future sales. The two antibody therapies target the insulin-like growth factor-1 receptor and are in Phase 3 trials. Viridian believes the products can offer more convenient dosing and a better safety profile than Amgen’s approved IGF-1R therapy Tepezza, which is already on the Japanese market. Kissei will fund and handle all remaining development, regulatory filings and marketing in its home country. The arrangement strengthens Viridian’s balance sheet, which held $636.6 million in cash at the end of March, and extends the biotech’s runway into the second half of 2027. The company still plans to file for U.S. approval of veligrotug in the second half of 2025 and, if successful, launch the drug domestically in 2026.