Ballard Spahr IP Attorneys Advise DRI Healthcare on Royalty Deal for Thyroid Eye Disease Treatment

Attorneys from Ballard Spahr’s national Intellectual Property Department advised DRI Healthcare Trust on patent and regulatory matters in its acquisition of a synthetic royalty interest in the U.S. sales of the thyroid eye disease (TED) treatments veligrotug and VRDN-003.

DRI Healthcare Trust (TSX: DHT.UN) (TSX: DHT.U) acquired the royalty interest of veligrotug (formerly known as VRDN-001) and VRDN-003 from Viridian Therapeutics, Inc. (Nasdaq: VRDN) for an aggregate purchase price of up to $300 million, including a $55 million upfront payment and up to $115 million in near-term clinical and regulatory milestone payments, DRI Healthcare Trust said in its October 20 announcement.

Veligrotug is a differentiated monoclonal antibody targeting insulin-like growth factor-1 receptor (IGF-1R), a clinically and commercially validated target for the treatment of TED. Viridian’s second product, VRDN-003, is an extended half-life monoclonal antibody designed for administration as convenient, low-volume, subcutaneous auto-injector injections.

The Ballard Spahr Intellectual Property Department team that advised DRI Healthcare on the transaction comprises Patents Group attorneys Margaret Bolce Brivanlou, Ph.D., Kenneth H. Sonnenfeld, Ph.D., Ron Vogel, and Alan White, Ph.D., and patent agent Michele A. Kliem, Ph.D.

Ballard Spahr intellectual property attorneys represent clients throughout the world on developing, commercializing, and monetizing intellectual property rights and protecting groundbreaking inventions across industries, from life sciences, medical, and software to manufacturing, gaming, food and beverage, consumer products, and arts and entertainment.

For media inquiries, please contact Bill Shralow at 215.864.8195.