Tiny Massachusetts Biotech Corbus to Triple HQ Space to Accommodate Growth

Published: Sep 20, 2017

Tiny Massachusetts Biotech Corbus to Triple HQ Space to Accommodate Growth September 20, 2017
By Alex Keown, BioSpace.com Breaking News Staff

BOSTON – Corbus Pharmaceuticals has its eyes on growth. The company is moving into a much larger headquarters in Norwood, Mass. that is expected to triple its available space and allow for new hires.

Corbus, which has been leveraging its way into the systemic sclerosis and cystic fibrosis markets, secured new office space that is triple the size of its current facilities. Corbus is moving into a new location with 32,733 square feet of space. That compares to the 10,414 square feet of space the company currently has at its 100 River Ridge Drive location, commercial real estate group CBRE/New England announced this morning. The company anticipates moving into its new location in 2018.

The company is looking to expand as it progresses through Phase III for its lead product anabasum. Anabasum is currently being evaluated in three separate clinical studies in diffuse cutaneous systemic sclerosis (scleroderma), cystic fibrosis and diffuse cutaneous, skin-predominant dermatomyositis. The company surged on positive Phase II data for anabasum, which was formerly known as Resunab. Anabasum is a preferential agonist to the CB2 receptor expressed on activated immune cells and fibroblasts.

“Corbus has grown significantly since its founding in 2014, with our lead drug anabasum demonstrating positive Phase II clinical results in systemic sclerosis and cystic fibrosis,” Corbus Chief Financial Officer Sean Moran said in a statement. “We are rapidly expanding our staff to continue the development of anabasum and have outgrown our existing space.”

Corbus is currently hiring for a number of positions – some clinical and some administrative. Positions listed on the company's online jobs portal include clinical project manager, clinical research associate, medical writer and medical director.

In April, Corbus announced its Phase III trial to support a New Drug Application for anabasum for the treatment of diffuse cutaneous systemic sclerosis. At the time, Corbus said it expects to enroll its first patient in the fourth quarter of 2017. The primary endpoint for the trial will be change from baseline at week 52 in modified Rodnan skin score, a measure of skin thickening and a validated clinical outcome in systemic sclerosis. Earlier this year, Yuval Cohen, chief executive officer of Corbus, told the Boston Business Journal he believes anabasum could be on the market by 2020 if the Phase III trial hits its mark.

Corbus also has an ongoing 12-month, open-label extension to its Phase II clinical study of anabasum for systemic sclerosis.

Anabasum was granted Orphan Drug Designation and Fast Track status from the U.S. Food and Drug Administration for the treatment of systemic sclerosis in 2015. The experimental drug was granted Orphan Drug Designation by the European Medicines Agency in January 2017.

Shares of Corbus are trading at $6.82 as of 10:02 a.m.

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