08:25 AM EDT, 10/20/2025 (MT Newswires) -- DRI Healthcare Trust (DHT-UN.TO, DHT-U.TO) said Monday it has acquired a royalty interest in the U.S. net sales of veligrotug (formerly known as VRDN-001) and VRDN-003 from Viridian Therapeutics, for up to US$300 million. This includes a $55 million upfront payment and up to $115 million in near-term clinical and regulatory milestone payments.

Veligrotug has shown improvements across both active and chronic thyroid eye disease (TED) and been granted Breakthrough Therapy Designation by the Food & Drug Administration (FDA). If approved by the FDA, veligrotug will be the second approved biologic treatment for TED.

Viridian is also advancing VRDN-003, a potential best-in-class subcutaneous therapy for the treatment of TED. There are currently two global phase 3 pivotal clinical trials, REVEAL-1 and REVEAL-2, in patients with active and chronic TED, respectively. Viridian anticipates reporting topline results from these trials in the first half of next year.

"This transaction reflects our continued strategy of providing bespoke solutions to partners that are developing and commercializing novel therapies for conditions with high unmet needs," said Ali Hedayat, CEO of DRI Healthcare.

DRI Healthcare will earn a tiered royalty on annual U.S. net sales of Viridian's TED franchise (veligrotug and VRDN-003). It can earn up to 7.50% on net sales up to and including $600 million (Tier 1), 0.80% on net sales above $600 million and up to and including $900 million (Tier 2), and 0.25% on net sales above $900 million and up to and including $2.0 billion (Tier 3).