Corbus Pharmaceuticals Holdings Inc (NASDAQ: CRBP) has 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).
TGFβ is a multifunctional cytokine involved in many cellular processes, including cell growth and differentiation, immune responses, wound healing, and tissue repair.
CRB-601 is an anti- α vβ8 mAb expressed by cancer cells. Corbus plans to develop CRB-601 to treat solid tumors in combination with existing therapies, including checkpoint inhibitors.
CRB-602 specifically inhibits both αvβ6 and αvβ8 implicated in fibrotic diseases and cancers of epithelial cell origin.
Both the programs are expected to enter Phase 1 studies in 2022.
The Company's $125 million cash and investments on hand, as of March 31, is expected to fund operations into the first quarter of 2024.
Under the combined terms of the two exclusive licensing agreements, Corbus will pay $2 million upfront, make potential milestone payments of up to $206 million, and pay low single-digit royalties on sales.
Price Action: CRBP shares are 6.68% lower at $2.03 during the market session on the last check Tuesday.
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