- Corbus Pharmaceuticals Holdings Inc CRBP occurred exclusive license agreement with CSPC Megalith Biopharmaceutical Co Ltda subsidiary of CSPC Pharmaceutical Group Limitedfor the development and commercialization of CRB-701 (SYS6002), an antibody-drug conjugate targeting Nectin-4.
- The agreement includes exclusive commercialization rights for CRB-701 in the United States, Canada, the European Union, the United Kingdom and Australia.
- The FDA has cleared the IND for CRB-701. CSPC is currently evaluating CRB-701 in a phase 1 dose escalation clinical trial in advanced solid tumors in China.
- Corbus plans to bridge data from this Phase 1 study to support a US clinical trial beginning in 2024.
- Corbus and CSPC will work together to conduct clinical development of CRB-701, with Corbus responsible for clinical development in the US and other licensed territories.
- CSPC receives an upfront payment of US$7.5 million. CSPC is also eligible for royalty payments on net sales and up to $130 million in potential development and regulatory milestone payments and $555 million in potential commercial milestone payments.
- Concurrent with the licensing agreement, Corbus also announced a 1:30 reverse stock split of its common stock effective February 14, 2023.
- Price promotion: CRBP shares are down 1.69% to $0.16 on Monday’s latest check.
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