Viridian Therapeutics in Royalty Financing Deal With DRI Healthcare for Up to $300 Million

By Robb M. Stewart

Viridian Therapeutics reached a deal for up to $300 million in financing and accelerated the timelines for the submission of a biologics license application and topline data readouts from a late-stage clinical trial.

The biotechnology company said Monday it entered into a royalty financing agreement with DRI Healthcare Acquisitions under which it will receive a $55 million upfront payment when the pact is executed, as well as up to $115 million in potential nearterm milestone payments linked to positive topline data in Phase 3 studies of for VRDN-003 and U.S. veligrotug marketing approval.

VRDN-003 is a potential subcutaneous therapy for the treatment of thyroid eye disease. Viridian is conducting a pivotal program for veligrotug, including two global Phase 3 clinical trials to evaluate its efficacy and safety in patients with active and chronic thyroid eye disease.

Under the partnership with DRI Healthcare Acquisitions, Viridian said it will pay tiered royalties of 7.5% of annual U.S. net sales up to and including $600 million, 0.8% of annual U.S. net sales above $600 million and up to and including $900 million, 0.25% of annual U.S. net sales above $900 million and up to $2 billion, and no royalty owed for annual U.S. net sales in excess of $2 billion.

The proceeds are expected to fully fund the anticipated commercial launches of both veligrotug and VRDN-003, Viridian said.

The Waltham, Mass.-based company said a Veligrotug biologics license application submission is expected imminently. VRDN-003 Phase 3 clinical trial topline data readouts are now expected in the first and second quarters of next year, it said.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

October 20, 2025 08:15 ET (12:15 GMT)