Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or
the “Company”), today announced licensing deals for two new
monoclonal antibodies (mAbs), CRB-601 and CRB-602, that target
integrins to inhibit activation of transforming growth factor β
(TGFβ). This new integrin program, in addition to the existing
endocannabinoid system program, strengthens and diversifies Corbus’
immunology pipeline for inflammatory, fibrotic, and metabolic
diseases, and cancer. With these additions, Corbus expects to have
four compounds other than lenabasum in Phase 1 testing in 2022.
Targeting integrins to inhibit
TGFβ activation
TGFβ is a multifunctional cytokine involved in
many cellular processes, including cell growth and differentiation,
immune responses, wound healing, and tissue repair. TGFβ plays a
key role in fibrosis and also promotes cancer growth and metastasis
via its effects in the tumor microenvironment (TME). The integrins
αvβ6 and αvβ8 are expressed by cancer cells, and αvβ6 is also
expressed on epithelial cells in fibrotic diseases. These integrins
enable TGFβ to exert its biologic effects by releasing it from its
latent complex. The goal of blocking these integrins is to inhibit
the deleterious effects of TGFβ. A number of other preclinical and
early clinical stage programs are testing this approach of
inhibiting αv integrins.
CRB-601 and CRB-602 are two novel and
distinct anti-integrin
mAbs:
- CRB-601 is an anti-αvβ8 mAb
rationally designed by Dr. Stephen Nishimura and his colleagues at
the University of California San Francisco and is potent at
picomolar concentrations in inhibiting activation of TGFβ. C6D4,
the parent mAb of CRB-601, has single agent activity as well as
synergistic activity when combined with an anti-PD1 mAb in
syngeneic mouse tumor models. Corbus plans to develop CRB-601 for
treatment of solid tumors in combination with existing therapies,
including checkpoint inhibitors. Phase 1 studies are expected to
start in 2022.
- CRB-602 was developed by Panorama
Research Inc. to specifically inhibit both αvβ6 and αvβ8. Both αvβ6
and αvβ8 have been implicated in fibrotic diseases and in cancers
of epithelial cell origin. Corbus believes targeting both integrins
at once is a rational approach to treating fibrotic diseases and
carcinomas. Phase 1 studies are expected to start in 2022.
“We look forward to a strong partnership with
Corbus and hope to see our mAb make a positive impact on the lives
of cancer patients all over the world,” said Anthony Francis,
Executive Director of Technology Management at UCSF Innovation
Ventures.
“Corbus is committed to developing new medicines
to improve the lives of people who need them,” stated Yuval Cohen,
Ph.D., Chief Executive Officer. “We believe these two
new integrin-targeting mAbs offer a promising approach to
inhibiting TGFβ, fit well with our expertise in immunology, and
diversify and expand our pipeline. We plan to advance up to
four new programs into the clinic next year and have the capital
and resources to do so.”
The Company’s $125 million of
cash and investments on hand, as of March 31,
2021, is expected to fund operations into
the first quarter of 2024, based on the current
planned expenditures.
Transactions Terms and
Conditions:
Under the combined terms of the two exclusive
licensing agreements, Corbus will pay $2,000,000 upfront and will
make potential development and sales milestone payments totaling up
to $206,000,000 and pay low single-digit royalties on sales.
Conference Call and Webcast Information:
Corbus management will host a conference call
and webcast presentation for investors, analysts, and other
interested parties today, Tuesday, June 1, 2021, at 8:30 a.m.
ET.
To participate on the call, please dial (877)
407-3978 (domestic) or (412) 902-0039 (international).
The live webcast will be accessible on
the Events page of the Investors section of the
Corbus website, www.corbuspharma.com, and will be archived for
90 days.
About UCSF
The University of California, San Francisco
(UCSF) is exclusively focused on the health sciences and is
dedicated to promoting health worldwide through advanced
biomedical research, graduate-level education in the life sciences
and health professions, and excellence in patient care. It
includes UCSF Health, which comprises three top-ranked hospitals,
as well as affiliations throughout the Bay Area. Learn more at
ucsf.edu, or see our Fact Sheet.
About Panorama Research
Inc.
Panorama Research Inc. is a translational
research lab and incubator with deep domain expertise in antibody
engineering and preclinical drug development. Panorama focuses on
identifying promising therapeutic targets and incubates novel,
proprietary technologies from in-house research or through
collaboration with leading academic institutions. Panorama is
headquartered in Sunnyvale, CA.
About Corbus
Corbus is committed to leveraging our expertise
in immunology to fulfill our purpose of developing innovative new
medicines that improve the lives of people living with
inflammatory, fibrotic, and metabolic diseases, and cancer. Corbus’
current pipeline includes small molecules that activate or inhibit
the endocannabinoid system and anti-integrin monoclonal antibodies
that block activation of TGFβ. Corbus is headquartered in Norwood,
Massachusetts. For more information on Corbus, visit
corbuspharma.com. Connect with us on Twitter, LinkedIn
and Facebook.
Forward-Looking Statements
This press release contains certain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934 and Private Securities Litigation Reform Act, as
amended, including those relating to the Company's restructuring,
trial results, product development, clinical and regulatory
timelines, market opportunity, competitive position, possible or
assumed future results of operations, business strategies,
potential growth opportunities and other statement that are
predictive in nature. These forward-looking statements are based on
current expectations, estimates, forecasts and projections about
the industry and markets in which we operate and management's
current beliefs and assumptions.
These statements may be identified by the use of
forward-looking expressions, including, but not limited to,
"expect," "anticipate," "intend," "plan," "believe," "estimate,"
"potential,” "predict," "project," "should," "would" and similar
expressions and the negatives of those terms. These statements
relate to future events or our financial performance and involve
known and unknown risks, uncertainties, and other factors,
including the potential impact of the recent COVID-19 pandemic and
the potential impact of sustained social distancing efforts, on our
operations, clinical development plans and timelines, which may
cause actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include those set forth in the Company's filings with the
Securities and Exchange Commission. Prospective investors are
cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this press release.
The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
UCSF Contact: Ellen Kats,
Assistant Director, Business Development & Licensing Email:
ellen.kats@ucsf.edu
Corbus Pharmaceuticals Contacts: Ted Jenkins,
Senior Director, Investor Relations and Corporate Communications
Phone: +1 (617) 415-7745 Email: ir@corbuspharma.com
Lindsey Smith, Director, Investor Relations and Corporate
Communications Phone: +1 (617) 415-7749 Email:
mediainfo@corbuspharma.com
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