Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or
the “Company”) today announced several changes to its management
team. Mark Tepper, Ph.D., will be transitioning to an external role
as Senior Scientific Advisor, effective April 1, 2019. The Company
is also expanding the role of Robert Discordia, Ph.D., VP
Pharmaceutical Development & Manufacturing, to lead the
Company’s Chemistry, Manufacturing and Controls (CMC) operations.
Lastly, Sergei Atamas, M.D., Ph.D., has been appointed as Executive
Director, Research, effective April 1, 2019. Dr. Atamas will lead
non-clinical research and development of Corbus’ portfolio of
rationally-designed, unique drug candidates targeting the
endocannabinoid system.
Dr. Atamas brings more than 25 years of
experience in biomedical research with a focus on cytokine biology
and mechanisms of fibrosis, especially lung fibrosis. He most
recently was Professor of Medicine and Microbiology &
Immunology at the University of Maryland School of Medicine and
Research Health Scientist at the Baltimore VA Medical Center. Dr.
Atamas is the recipient of numerous grants from the National
Institutes of Health, Department of Veterans Affairs, and several
research foundations. He has been recognized by the Scleroderma
Foundation for his research and volunteerism and received the 18th
Annual American College of Rheumatology Senior Rheumatology Scholar
Award.
Dr. Discordia joined Corbus in May 2018,
bringing more than 25 years of biopharmaceutical industry
experience in CMC development and business operations to the
Company. Prior to joining Corbus, Dr. Discordia was Executive
Director, Business Operations, Procurement for Global Product
Development & Supply at Bristol-Myers Squibb. While serving in
that position, he was responsible for managing the strategic
business partnerships for the company’s small molecule development
and commercial manufacturing. Over his career, he had leadership
roles in the CMC development and launch of multiple medicines,
including TAXOL®, BARACLUDE® and ELIQUIS®.
“We are fortunate to have an executive with
Bob’s caliber and experience as we continue to advance development
of our portfolio of drug candidates,” said Yuval Cohen, Ph.D.,
Chief Executive Officer of Corbus. “Bob joined Corbus from
Bristol-Myers Squibb last year, and since that time, Bob has made a
tremendous impact. Under Bob’s leadership, our manufacturing
operations are well positioned to support a commercial launch. We
are also excited to welcome Sergei to Corbus. Sergei has an
accomplished career at the University of Maryland School of
Medicine, and his scientific expertise in inflammatory and fibrotic
diseases will be invaluable. With Corbus’ pipeline of early- to
late-stage drug candidates, robust intellectual property, global
commercial rights, and a strong balance sheet, the Company is well
positioned for our next phase of growth.”
Dr. Cohen continued, “Finally, on behalf of the
Board and the entire Corbus team, I would like to thank Mark for
his leadership, service and commitment to the Company. His
entrepreneurial spirit, vision and tireless dedication as a company
co-founder has helped make Corbus the leading developer of novel
small molecules targeting the endocannabinoid system. We look
forward to Mark’s continued guidance and insight as Senior
Scientific Advisor.”
“Since co-founding Corbus in 2014, I have had
the opportunity to collaborate with many talented and dedicated
colleagues and friends, and I am proud of our achievements,” said
Dr. Tepper. “I look forward to continuing my work with Corbus as a
Senior Scientific Advisor, as the Company continues executing on
its vision to become the leader in the treatment of inflammatory
and fibrotic disease by targeting the endocannabinoid system.”
About Corbus
Corbus Pharmaceuticals Holdings, Inc. is a Phase
3 clinical-stage pharmaceutical company focused on the development
and commercialization of novel therapeutics to treat inflammatory
and fibrotic diseases by leveraging its pipeline of endocannabinoid
system-targeting synthetic drug candidates. The Company's lead
product candidate, lenabasum, is a novel, synthetic, oral,
selective cannabinoid receptor type 2 (CB2) agonist designed to
resolve chronic inflammation and fibrotic processes. Lenabasum is
currently being evaluated in systemic sclerosis, cystic fibrosis,
dermatomyositis, and systemic lupus erythematosus.
Corbus is also developing a pipeline of drug
candidates from more than 600 novel compounds targeting the
endocannabinoid system. The pipeline includes CRB-4001, a 2nd
generation, peripherally-restricted, selective cannabinoid receptor
type 1 (CB1) inverse agonist. Potential indications for CRB-4001
include NASH, among others. Corbus plans to start a Phase 1 study
of CRB-4001 in 2019, intended to be followed by a National
Institutes of Health (NIH)-funded proof-of-concept Phase 2
study.
For more information, please visit
www.CorbusPharma.com and connect with the Company 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 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 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.
Contacts:
Institutional Investor InquiriesTed Jenkins,
Senior Director, Investor Relations and CommunicationsPhone: +1
(617) 415-7745Email: ir@corbuspharma.com
All Other Investor InquiriesJenene ThomasJenene
Thomas Communications, LLCPhone: +1 (833) 475-8247Email:
crbp@jtcir.com
Media ContactLindsey Smith, Associate Director,
Investor Relations and Corporate CommunicationsPhone: +1 (617)
415-7749Email: mediainfo@corbuspharma.com
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