Kissei Pharmaceutical Co., Ltd. Enters Strategic Partnership with Viridian Therapeutics

In a significant move within the pharmaceutical sector, Kissei Pharmaceutical Co., Ltd., a leading healthcare company based in Matsumoto, Japan, has announced a strategic collaboration with Viridian Therapeutics, Inc. This partnership aims to develop and commercialize two promising treatments, veligrotug and VRDN-003, specifically targeting thyroid eye disease in Japan. The deal, valued at up to $385 million, underscores Kissei’s commitment to expanding its portfolio in rare diseases and enhancing its market presence in Japan.

Key Details of the Collaboration

The collaboration between Kissei and Viridian is structured around an exclusive license agreement, granting Kissei the rights to develop and commercialize veligrotug and VRDN-003 within Japan. As part of the agreement, Viridian Therapeutics will receive an upfront payment of $70 million. Additionally, Viridian stands to gain up to $315 million in milestone payments, contingent upon the achievement of specific development, regulatory, and commercial milestones. The deal also includes tiered royalties on net sales in Japan, projected to be in the 20s to mid-30s percent range.

Strategic Implications

This partnership is poised to position Kissei as a formidable competitor in the Japanese market for thyroid eye disease treatments, directly challenging established players like Amgen. By leveraging Viridian’s innovative portfolio and Kissei’s expertise in the development and commercialization of rare disease treatments, the collaboration aims to bring best-in-class therapies to patients in need.

Market and Financial Context

Kissei Pharmaceutical, listed on the Tokyo Stock Exchange, has shown a robust financial performance, with its close price on July 28, 2025, standing at 4,305 JPY. The company’s market capitalization is approximately 201.5 billion JPY, reflecting its strong position in the healthcare sector. The price-to-earnings ratio of 15.5656 indicates a healthy valuation, supported by its diverse product offerings targeting conditions such as cholesterol, high blood pressure, and Parkinson’s disease.

Conclusion

The collaboration between Kissei Pharmaceutical and Viridian Therapeutics marks a significant milestone in the pharmaceutical industry, highlighting the strategic importance of partnerships in advancing medical innovation. As Kissei continues to expand its reach in the Japanese market, this deal not only enhances its product portfolio but also reinforces its commitment to addressing unmet medical needs in rare diseases.