Viridian Therapeutics, Kissei Pharmaceutical Partner for Japanese Development of Thyroid Eye Disease Therapies, Securing $70M Upfront

Viridian Therapeutics Inc. (NASDAQ:VRDN) is one of the best small cap stocks with biggest upside potential. On July 30, Viridian Therapeutics announced an exclusive collaboration and licensing agreement with Kissei Pharmaceutical. The agreement grants Kissei the rights to develop and commercialize veligrotug and VRDN-003 in Japan.

Both of these molecules are anti-insulin-like growth factor-1 receptor/IGF-1R antibodies intended to treat Thyroid Eye Disease/TED, which is an autoimmune condition causing inflammation and damage to tissues around the eyes.

Under the terms of the agreement, Viridian will receive an upfront payment of $70 million from Kissei. In addition, Viridian is eligible to receive up to an additional $315 million in development, regulatory, and commercial milestone payments. The agreement also includes tiered royalties on net sales in Japan, with percentages ranging from the 20s to mid-30s. Kissei will be responsible for all associated development, regulatory, and commercialization costs and activities within Japan.

Viridian Therapeutics Inc. (NASDAQ:VRDN) discovers, develops, and commercializes treatments for serious and rare diseases.

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Disclosure: None. This article is originally published at Insider Monkey.