Viridian Therapeutics

What Viridian Therapeutics does

Viridian Therapeutics, Inc. (Nasdaq: VRDN) is a clinical-stage biotechnology company developing engineered monoclonal antibody therapeutics for autoimmune and rare diseases, with a primary focus on Thyroid Eye Disease (TED). The pipeline is anchored by two anti-IGF-1R candidates sharing the same binding domain but differentiated by route of administration: veligrotug (VRDN-001), an intravenous full antagonist supported by positive Phase 3 THRIVE and THRIVE-2 data and currently under FDA Priority Review with a PDUFA target action date of June 30, 2026; and elegrobart (VRDN-003), a half-life-extended subcutaneous antibody designed as a low-volume, infrequently dosed self-administered injection, with positive Phase 3 REVEAL-1 and REVEAL-2 topline data and a BLA submission planned for Q1 2027. The portfolio also includes a preclinical anti-TSHR program for TED and Graves' disease and an FcRn portfolio (VRDN-006 in Phase 1; VRDN-008 with IND submitted) targeting IgG-mediated autoimmune indications analogous to efgartigimod's label.

The company's core technology is an antibody discovery and protein engineering platform that produces differentiated monoclonal antibody candidates against clinically and commercially validated autoimmune and rare disease pathways. Veligrotug is positioned as a full IGF-1R antagonist, while elegrobart is engineered for extended half-life and subcutaneous self-administration with the same target binding domain. The FcRn portfolio is designed to deliver more convenient subcutaneous administration and potentially deeper and more durable IgG suppression than current standard-of-care FcRn therapies.

Viridian is pre-commercial, with reported Q4 2025 revenue of $132,000 against a full-year 2025 net loss of $342.6 million. The business model is currently capital-markets-driven, funded through approximately $185M of private placement (October 2023), $375M of public stock offerings (January and September 2024), an up-to-$300M synthetic royalty financing with DRI Healthcare Trust (October 2025), and a $350M concurrent convertible note and equity offering (May 2026). The company held $874.7M in cash, cash equivalents and short-term investments as of December 31, 2025. Future revenue will come from US product sales of veligrotug (planned mid-2026 launch) and elegrobart (post-approval), with international commercialization pursued through EMA and other regulatory submissions; a synthetic royalty obligation to DRI Healthcare will share a portion of those US sales. Pricing has not been publicly disclosed. Truist analyst projections estimate 2031 peak sales of approximately $630M for veligrotug and 2035 peak sales of approximately $1.14B for elegrobart.

Name

Viridian Therapeutics

Legal name

Viridian Therapeutics, Inc.

Website

https://viridiantherapeutics.com

Company type

Public

Founded year

2017

Operating status

Operating

Headcount range

251–500 employees

Short description

Viridian Therapeutics (Nasdaq: VRDN) is a clinical-stage biotechnology company developing engineered monoclonal antibodies for autoimmune and rare diseases, primarily Thyroid Eye Disease, with lead candidates veligrotug (IV) and elegrobart (subcutaneous) targeting IGF-1R.

Ownership category

akta.pro rank

Product category

Therapeutic Biologics

NAICS

Biological Product (except Diagnostic) Manufacturing (325414)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834)

akta.pro primary industry

Monoclonal Antibody Therapeutics (mAbs) (HLAAAAAA)

akta.pro secondary industries

Immunology & Autoimmune Specialty Pharmaceuticals (HLAIACAB), Rare Immunology, Autoimmune & Autoinflammatory Therapies (HLAIAIAE), Rare Ophthalmology Disorder Therapies (HLAIAIAK)

Keywords

• Monoclonal antibody therapy
• Biopharmaceutical development
• Autoimmune disease treatment
• Rare disease therapeutics
• Thyroid eye disease

Headquarters

HQ city

Waltham

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Future product sales of TED therapeutics (veligrotug and elegrobart): Planned commercial revenue stream from US sales of veligrotug (IV anti-IGF-1R) and elegrobart (subcutaneous anti-IGF-1R) for thyroid eye disease following FDA approval (PDUFA target action date June 30, 2026 for veligrotug; BLA for elegrobart planned Q1 2027). Pre-revenue currently; product sales expected post-approval.
2. Synthetic royalty financing arrangement with DRI Healthcare: Up to $300M synthetic royalty interest on US sales of veligrotug and VRDN-003 (elegrobart), including $55M upfront payment and up to $115M in milestone payments tied to clinical and regulatory achievements; royalties paid on commercial sales once products launch. Non-dilutive capital in exchange for future revenue share.
3. Capital markets financings (equity, convertible notes, public offerings, private placement): Multiple financing rounds used to fund R&D and commercial readiness: $185M private placement (Oct 2023), $150M public offering (Jan 2024), $225M upsized public offering (Sept 2024), up to $889M in potential capital from October 2025 transactions, $350M aggregate gross proceeds from 1.75% Convertible Senior Notes due 2032 plus common stock offering (May 2026).
4. Debt financing with Hercules Capital: Loan and Security Agreement with Hercules Capital, Inc., outstanding indebtedness intended to be repaid using proceeds from May 2026 concurrent public offerings.

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

Viridian Therapeutics is a clinical-stage biotechnology company developing monoclonal antibody therapies for autoimmune and rare diseases, with its lead programs targeting thyroid eye disease (TED). Its core offerings include veligrotug (VRDN-001), an IV anti-IGF-1R antibody under BLA Priority Review (PDUFA June 30, 2026), and elegrobart (VRDN-003), a subcutaneous half-life-extended anti-IGF-1R antibody that reported positive Phase 3 REVEAL-1 and REVEAL-2 topline data. The pipeline also spans an FcRn portfolio (VRDN-006, VRDN-008) and a preclinical anti-TSHR program for Graves' disease.

Product overview

Viridian Therapeutics is a biotechnology company with a pipeline-plus-platform architecture rather than a single unified product. The portfolio is anchored by the Thyroid Eye Disease (TED) Programs, which center on differentiated anti-IGF-1R monoclonal antibodies led by veligrotug (VRDN-001), an IV full antagonist under BLA Priority Review, and elegrobart (VRDN-003), a subcutaneously delivered half-life-extended anti-IGF-1R antibody that reported positive Phase 3 REVEAL-1 and REVEAL-2 topline data. These are complemented by the preclinical Anti-TSHR program targeting TED and Graves' disease, and the FcRn Portfolio of autoimmune disease candidates VRDN-006 (Phase 1) and VRDN-008 (IND submitted). All candidates are designed for serious and rare autoimmune diseases, leveraging Viridian's core expertise in antibody discovery and protein engineering.

Differentiator

Problem solved

Functional benefit

Products and services

• Veligrotug (VRDN-001) Veligrotug is Viridian's lead investigational product candidate, a potential best-in-class intravenous monoclonal antibody that acts as a full antagonist of insulin-like growth factor-1 receptor (IGF-1R) for thyroid eye disease. The treatment regimen is 5 infusions given three weeks apart with a 30-minute infusion time. Veligrotug is intended for adult patients with active or chronic Thyroid Eye Disease (TED) and is supported by positive Phase 3 THRIVE and THRIVE-2 trials.
• Elegrobart (VRDN-003) Elegrobart is a subcutaneously delivered, half-life-extended monoclonal antibody targeting IGF-1R that shares the same binding domain as veligrotug but is engineered for longer half-life. It is designed as a low-volume, infrequently dosed self-administered subcutaneous IGF-1R for TED, with potential dosing every eight or four weeks and intended to be the first subcutaneous autoinjector for TED treatment. The candidate reported positive topline data from two pivotal Phase 3 trials (REVEAL-1 and REVEAL-2).
• Anti-TSHR Program The Anti-TSHR Program is a preclinical pipeline candidate comprising a potential best-in-class, half-life extended monoclonal antibody that inhibits the thyroid-stimulating hormone receptor (TSHR). It is designed for subcutaneous delivery in an autoinjector with the potential to support extended dosing intervals for patient convenience, with potential indications including TED and Graves' disease.
• VRDN-006 VRDN-006 is an anti-neonatal Fc receptor (FcRn)-targeting Fc fragment designed as a convenient, self-administered subcutaneous product for IgG-mediated autoimmune diseases. Non-human primate studies demonstrated specificity for blocking FcRn-IgG interactions without decreases in albumin or increases in LDL, and with comparable potency to efgartigimod. A Phase 1 study is ongoing.
• VRDN-008 VRDN-008 is a novel, first-in-class FcRn inhibitor designed for convenient subcutaneous self-administration. It pairs IgG suppression with extended half-life technology, potentially enabling deeper and more durable suppression than existing anti-FcRn therapies for IgG-mediated autoimmune diseases. An Investigational New Drug (IND) application has been submitted.

Quantifiable outcome

• 93% of moderate/severe TED survey respondents were limited in ability to use electronic devices
• +4 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Four partnerships are on record, tiered core / tier-2 patient advocacy and disease awareness partner and minor / tier-3 patient advocacy and disease awareness partner.

• Autoimmune Associationcore / tier-2 patient advocacy and disease awareness partnerGTM or Marketing Partner · 19 March 2025Featured organization in Viridian's Community Corner blog (March 19, 2025) featuring Colleen Kmiecik, Director of Marketing and Communications; the Autoimmune Association serves as a key patient advocacy partner for raising awareness of autoimmune diseases including thyroid eye disease and educating more than 50 million Americans affected.
• Prevent Blindnessminor / tier-3 patient advocacy and disease awareness partnerGTM or Marketing PartnerFeatured TED patient advocacy organization on Viridian's website; coordinates the annual Thyroid Eye Disease (TED) Week to raise awareness. Viridian references Prevent Blindness as a key eye health resource for the TED community.
• National Organization for Rare Disorders (NORD)minor / tier-3 patient advocacy and disease awareness partnerGTM or Marketing PartnerFeatured TED patient advocacy organization on Viridian's website; collaboration on patient journey research (NORD 2024 and 2025 poster presentations of the ElevaTED survey data).
• Graves' Disease & Thyroid Foundation (GDATF)minor / tier-3 patient advocacy and disease awareness partnerGTM or Marketing PartnerFeatured TED patient advocacy organization on Viridian's website; supports patients affected by Graves' disease and associated thyroid eye disease.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ViridianThera
• LinkedInlinkedin.com/company/viridiantx

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds18 records

Investors13 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viridian Therapeutics