Corbus Pharmaceuticals Observes World Scleroderma Day
Company Recognizes the World's Leading Scleroderma Advocacy Groups, Research Organizations and Patients
Norwood, MA - June 26, 2014 - Corbus Pharmaceuticals Holdings, Inc., an emerging drug development company focused on the development and commercialization of its lead product candidate, Resunab™, for the treatment of rare ("orphan") life-threatening inflammatory diseases, announced its support of World Scleroderma Day being observed on June 29, 2014. World Scleroderma Day is sponsored by The Federation of European Scleroderma Associations (FESCA), The Scleroderma Society of Canada, and the Scleroderma Foundation in the United States along with other international foundations and groups working cooperatively to raise awareness about scleroderma.
Dr. Yuval Cohen, Chief Executive Officer of Corbus Pharmaceuticals, stated, "June has been recognized nationally as Scleroderma Awareness Month and culminates on Sunday with World Scleroderma Day. We would like to take this opportunity to acknowledge the organizations and associations dedicated to raising awareness of and expanding research for scleroderma as well as show our unwavering commitment to finding desperately needed therapies for the patients living with this devastating disease."
Scleroderma, or systemic sclerosis, is a chronic often progressive autoimmune disorder that causes scar tissue to accumulate on connective tissue. One of the most visible manifestations of the disease is hardening of the skin. An estimated 300,000 Americans have scleroderma and approximately one-third of those diagnosed have the systemic form of scleroderma. The effects of scleroderma can range from mild to life-threatening.
Earlier in June, Corbus completed the closing of a $10.3 million equity financing for which proceeds are being used to fund the advancement of its lead product candidate Resunab™ into first-in-patient Phase 2a clinical trials in diffuse scleroderma as well as in cystic fibrosis in 2015.
Dr. Robert Zurier, Chief Medical Officer and Co-Founder of Corbus, stated, "Resunab's unique mechanism of action, safety profile and promising pre-clinical results, including results generated in dermal fibroblasts taken from scleroderma patients, are positive indicators of its potential benefit to scleroderma patients and we very much look forward to our upcoming Phase 2 clinical studies."
Resunab is a novel synthetic oral drug with unique anti-inflammatory and anti-fibrotic activity. Pre-clinical and Phase 1 studies have shown Resunab to have an excellent safety profile in humans and promising potency. Resunab binds to the CB2 receptor of immune cells and triggers a process known as "inflammatory resolution", in effect turning chronic inflammation "off."
About Corbus Pharmaceuticals
Corbus Pharmaceuticals is a clinical stage biopharmaceutical company, focused on the development and commercialization of novel therapeutics to treat rare ("orphan"), life-threatening inflammatory-fibrotic diseases with clear unmet medical needs. Our lead product Resunab is a novel oral anti-inflammatory drug scheduled to commence Phase 2a clinical trials for the treatment of cystic fibrosis and diffuse scleroderma in 2015. For more information, please visit www.CorbusPharma.com.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks, uncertainties and other factors, including the possibility of unfavorable results from studies and clinical trials involving Resunab or other product candidates. Corbus Pharmaceuticals Holdings, Inc. also faces risks related to its ability to enroll patients in studies and may need to modify or delay these studies. As a result, Resunab may never be successfully commercialized. These risks, uncertainties and other factors could cause actual results to differ materially from those referred to in the forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. All forward-looking statements are based on information currently available to Corbus Pharmaceuticals Holdings, Inc. and the Company assumes no obligation to update any such forward-looking statements.
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Released June 26, 2014