• Mark Tepper, Ph.D., transitions to role of external Senior Scientific Advisor
• Robert Discordia, Ph.D., role expanded to lead Chemistry, Manufacturing and Controls operations
• Sergei Atamas, M.D., Ph.D., appointed as Executive Director of Research to lead drug discovery
• Leadership changes support Company’s vision to become the leader in the treatment of inflammatory and fibrotic diseases by targeting the endocannabinoid system

Norwood, MA, March 28, 2019 (GLOBE NEWSWIRE) -- 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 18^th 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 Inquiries
Ted Jenkins, Senior Director, Investor Relations and Communications
Phone: +1 (617) 415-7745
Email: ir@corbuspharma.com

All Other Investor Inquiries
Jenene Thomas
Jenene Thomas Communications, LLC
Phone: +1 (833) 475-8247
Email: crbp@jtcir.com

Media Contact
Lindsey Smith, Associate Director, Investor Relations and Corporate Communications
Phone: +1 (617) 415-7749
Email: mediainfo@corbuspharma.com

Released March 28, 2019