Pharma BD Deal Intelligence
Kissei Pharmaceutical Co., Ltd. / Viridian Therapeutics, Inc.
2025 · Licensing/Option · $385M · Complete
Viridian Therapeutics entered an exclusive collaboration and license agreement granting Kissei Pharmaceutical rights to develop and commercialize veligrotug and VRDN-003 in Japan for thyroid eye disease. Viridian receives $70 million upfront and is eligible for up to $315 million in development, regulatory and commercial milestone payments, plus tiered royalties on Japanese net sales ranging from the 20s to the mid-30s percent. Kissei is responsible for all development, regulatory and commercialization activities and associated costs in Japan.
This deal is too recent to grade. Critic Score and Outcome Score are assigned after the announcement-week coverage settles and, for Outcome, after the 5-year post-close assessment window opens — expected 2030 at the earliest for this deal, once/if it closes.
Key facts
- Announced Jul 30, 2025
- Deal value $385M
- Deal type Licensing/Option
- Therapeutic area Ophthalmology, Endocrinology
- Indications Thyroid eye disease
- Key assets veligrotug (VRDN-001), VRDN-003
- Mechanism Anti-IGF-1R monoclonal antibody
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More: 2025 deals · Ophthalmology deals