Corbus Pharmaceuticals Announces NASDAQ Closing Bell Ceremony
Company Celebrates the Recently Reported Positive Topline Results with Lead Drug Candidate, Resunab (JBT-101) in Phase 2 Study in Systemic Sclerosis
NORWOOD, MA -- (Marketwired) -- 12/05/16 -- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) ("Corbus" or the "Company"), a clinical stage drug development company targeting rare, chronic, serious inflammatory and fibrotic diseases, announced today that Yuval Cohen, Ph.D., Chief Executive Officer, along with other members of the Executive management team will ring the NASDAQ Stock Market Closing Bell on Tuesday, December 6th, 2016. The bell ringing ceremony celebrates the recently reported positive topline data results from the Company's Phase 2 study in diffuse cutaneous systemic sclerosis showing clear signal of clinical benefit with Resunab (JBT-101), the Company's novel synthetic oral endocannabinoid-mimetic drug that is designed to resolve chronic inflammation and halt fibrosis.
"We are grateful to have the opportunity to acknowledge our recent clinical accomplishments with the ringing of the NASDAQ closing bell. We would like to express our sincere gratitude to all the patients, their clinicians and the clinical staff who participated in the Phase 2 trial and are continuing to contribute to the ongoing 12-month open label extension," stated Dr. Cohen.
JBT-101 is additionally being evaluated in Phase 2 clinical studies in cystic fibrosis and skin-predominant dermatomyositis, with a fourth Phase 2 clinical trial in systemic lupus erythematosus planned to commence in the first half of 2017.
About Resunab ("JBT-101")
JBT-101 is a novel synthetic oral endocannabinoid-mimetic drug that preferentially binds to the CB2 receptor expressed on activated immune cells and fibroblasts. CB2 activation triggers endogenous pathways that resolve inflammation and halt fibrosis. Preclinical and Phase 1 studies have shown JBT-101 to have a favorable safety, tolerability and pharmacokinetic profile. It has also demonstrated promising potency in preclinical models of inflammation and fibrosis. JBT-101 is designed to trigger the production of "Specialized Pro-resolving Lipid Mediators" that activate an endogenous cascade responsible for the resolution of inflammation and fibrosis, while reducing production of multiple inflammatory mediators. JBT-101 has direct effects on fibroblasts to halt tissue scarring. In effect, JBT-101 triggers endogenous pathways to turn "off" chronic inflammation and fibrotic processes, without causing immunosuppression.
Corbus Pharmaceuticals Holdings, Inc. is a clinical stage pharmaceutical company focused on the development and commercialization of novel therapeutics to treat rare, chronic, and serious inflammatory and fibrotic diseases. Our lead product candidate, JBT-101, is a novel synthetic oral endocannabinoid-mimetic drug designed to resolve chronic inflammation, and fibrotic processes. JBT-101 is currently in Phase 2 clinical studies for the treatment of cystic fibrosis, diffuse cutaneous systemic sclerosis and skin-predominant dermatomyositis, with a fourth Phase 2 trial in systemic lupus erythematosus planned to commence during the first half of 2017.
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 trials, 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.
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Source: Corbus Pharmaceuticals Holdings, Inc.
Source: Corbus Pharmaceuticals Holdings, Inc.
Released December 5, 2016