- Viridian receives $55 million upfront and potential near-term milestones up to $115 million based on positive VRDN-003 topline data and U.S. veligrotug marketing approval -

- Upfront and anticipated near-term milestones together with existing cash expected to fully fund the commercial launches of both veligrotug and VRDN-003 -

- Veligrotug Biologics License Application (BLA) submission expected imminently; VRDN-003 phase 3 clinical trial topline data readouts now expected Q1 2026 for REVEAL-1 and Q2 2026 for REVEAL-2 -

- Amended credit facility with Hercules Capital, Inc., providing additional access to capital at the company’s discretion based on milestone achievements -

Viridian Therapeutics, Inc. (NASDAQ: VRDN), a biotechnology company focused on discovering, developing and commercializing potentially best-in-class medicines for serious and rare diseases, today announced it entered into a royalty financing agreement with DRI Healthcare Acquisitions LP (DRI) and accelerated its timelines for the submission of the veligrotug BLA and the topline clinical data readouts of its VRDN-003 REVEAL trials in patients with thyroid eye disease (TED).

“We are excited to partner with DRI after a highly competitive royalty process. As we accelerate towards our anticipated commercial launches in TED, this significant non-dilutive capital puts us in an even stronger position,” said Steve Mahoney, Viridian’s President and Chief Executive Officer. “The Viridian team has consistently demonstrated its ability to execute, and this financing will help our plans to maximize the commercial opportunity of veligrotug and VRDN-003.”

Royalty Agreement

• DRI Royalty Financing: Viridian will receive up to $300 million, subject to the terms and conditions of the agreement, including:
  • $55 million upfront payment upon execution of the agreement;
  • $115 million in potential near-term milestones linked to the achievement of positive topline data in REVEAL-1 and REVEAL-2, phase 3 pivotal studies for VRDN-003, and U.S. veligrotug marketing approval;
  • Viridian will pay DRI 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;

Proceeds expected to fully fund the anticipated commercial launches of both veligrotug and VRDN-003. Goldman Sachs & Co. LLC acted as exclusive financial advisor to Viridian.

Credit Facility

• Amended Hercules Capital Credit Facility: This amended agreement provides access to capital at Viridian’s discretion upon achievement of certain milestones, extends Viridian’s interest-free payment period, and replaces Viridian’s prior credit facility with Hercules. It provides up to $300 million in capital, including a $50 million drawdown required at closing, which provides immediate capital of $30 million after paying in full the prior facility’s outstanding amount.

Business Updates

• Veligrotug BLA submission accelerated; expect to submit to FDA imminently.
• Updating guidance for topline data readouts of Viridian’s phase 3 pivotal clinical trials evaluating VRDN-003, a subcutaneous, half-life-extended, low-volume, self-administered drug product candidate:
  • REVEAL-1, in active TED patients is now expected to have topline clinical data available in Q1 2026; and
  • REVEAL-2, in chronic TED patients is now expected to have topline clinical data available in Q2 2026.

About Viridian Therapeutics

Viridian is a biopharmaceutical company focused on discovering, developing and commercializing potential best-in-class medicines for patients with serious and rare diseases. Viridian’s expertise in antibody discovery and protein engineering enables the development of differentiated therapeutic candidates for previously validated drug targets in commercially established disease areas.

Viridian is advancing multiple candidates in the clinic for the treatment of patients with thyroid eye disease (TED). The company is conducting a pivotal program for veligrotug, including two global phase 3 clinical trials (THRIVE and THRIVE-2), to evaluate its efficacy and safety in patients with active and chronic TED. Both THRIVE and THRIVE-2 reported positive topline data, meeting all the primary and secondary endpoints of each study. Viridian is also advancing VRDN-003 as a potential best-in-class subcutaneous therapy for the treatment of TED, including two ongoing global phase 3 pivotal clinical trials, REVEAL-1 and REVEAL-2, to evaluate the efficacy and safety of VRDN-003 in patients with active and chronic TED.

In addition to its TED portfolio, Viridian is advancing a novel portfolio of neonatal Fc receptor (FcRn) inhibitors, including VRDN-006 and VRDN-008, which has the potential to be developed in multiple autoimmune diseases.

Viridian is based in Waltham, Massachusetts. For more information, please visit www.viridiantherapeutics.com. Follow Viridian on LinkedIn and X.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of words such as, but not limited to, “anticipate,” “believe,” “become,” “continue,” “could,” “design,” “estimate,” “expect,” “intend,” “may,” “might,” “on track,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or other similar terms or expressions that concern our expectations, plans and intentions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based on our current beliefs, expectations, and assumptions. Forward-looking statements include, without limitation, statements regarding: the ability to fully fund the commercial launches of veligrotug and VRDN-003 using our existing cash and the upfront cash and near-term milestones from the DRI royalty financing; preclinical development, clinical development, and anticipated commercialization of Viridian’s product candidates veligrotug, VRDN-003, VRDN-006, and VRDN-008; anticipated data results and timing of their disclosure, including VRDN-003 topline data from the REVEAL-1 and REVEAL-2 trials in the first quarter and second quarter of 2026, respectively; anticipated timing of regulatory submissions, including the anticipated BLA submission for veligrotug imminently; and Viridian’s product candidates potentially being best-in-class.

New risks and uncertainties may emerge from time to time, and it is not possible to predict all risks and uncertainties. No representations or warranties (expressed or implied) are made about the accuracy of any such forward-looking statements. Such forward-looking statements are subject to a number of material risks and uncertainties including but not limited to: potential utility, efficacy, potency, safety, clinical benefits, clinical response, and convenience of Viridian’s product candidates; that results or data from completed or ongoing clinical trials may not be representative of the results of ongoing or future clinical trials; that preliminary data may not be representative of final data; the timing, progress and plans for our ongoing or future research, preclinical, and clinical development programs; changes to trial protocols for ongoing or new clinical trials; expectations and changes regarding the timing for regulatory filings; regulatory interactions; expectations and changes regarding the timing for enrollment and data; uncertainty and potential delays related to clinical drug development; the duration and impact of regulatory delays in our clinical programs, including as a result of a prolonged government shutdown; the timing of and our ability to obtain and maintain regulatory approvals for our therapeutic candidates; manufacturing risks; competition from other therapies or products; estimates of market size; other matters that could affect the sufficiency of existing cash, cash equivalents, and short-term investments to fund operations; our financial position and projected cash runway; our future operating results and financial performance; Viridian’s intellectual property position; the timing of preclinical and clinical trial activities and reporting results from same; that our product candidates may not be commercially successful, if approved; and other risks described from time to time in the “Risk Factors” section of our filings with the Securities and Exchange Commission (SEC), including those described in our most recent Annual Report on Form 10-K or Quarterly Report on Form 10-Q, as applicable, and supplemented from time to time by our Current Reports on Form 8-K. Any forward-looking statement speaks only as of the date on which it was made. Neither the company, nor its affiliates, advisors, or representatives, undertake any obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the company’s views as of any date subsequent to the date hereof.

Source: Viridian Therapeutics, Inc.

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