CORBUS PHARMACEUTICALS HOLDINGS, INC. (NASDAQ:CRBP) Files An 8-K Entry into a Material Definitive AgreementItem 1.01.
On August 21, 2017, Corbus Pharmaceuticals, Inc. (“CPI”), a Delaware corporation and wholly-owned subsidiary of Corbus Pharmaceuticals Holdings, Inc. (the “Company”), entered into a Lease Agreement (the “Lease Agreement”) for a term of seven years with River Ridge Limited Partnership (the “Landlord”), as landlord, to which CPI agreed to lease from the Landlord certain premises (the “Leased Premises”) located in Norwood, Massachusetts, to be used as the Company’s corporate offices.
The Leased Premises consist of approximately 32,733 leasable square feet. The base rent for the Leased Premises increases over the Term (as defined below), and ranges from approximately $470,000 for the first year to $908,341 for the seventh year. The initial term of the Lease Agreement (the “Term”) is for a period of seven years and shall begin on the earlier of (x) the date of completion of CPI’s work to be performed to prepare the Leased Premises for its initial occupancy and (y) the 181st day after the execution of the Lease Agreement (the “Commencement Date”). The Commencement Date is expected to occur on or about February 18, 2018.
In addition, in connection with the signing of the Lease Agreement, the Company executed a Guarantee (the “Guarantee”) in favor of the Landlord, to which the Company unconditionally guaranteed the full performance of CPI of the terms of the Lease Agreement.
The foregoing description of the Lease Agreement and the Guarantee is not a complete description of all the terms of such agreements. For a complete description of all the terms, please refer to the full text of the Lease Agreement and the Guarantee, copies of which are filed herewith as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated into this Item 1.01 by reference.
| Item 2.03 | Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. |
The information under Item 1.01 above is incorporated by reference into this Item 2.03, and is qualified in its entirety by reference to the full text of the Lease Agreement and the Guarantee, copies of which are filed herewith as Exhibits 10.1 and 10.2, respectively, to this Current Report on Form 8-K and incorporated into this Item 2.03 by reference.
| Item 7.01 | Regulation FD Disclosure. |
On August 22, 2017, the Company will be using the slides attached hereto as Exhibit 99.1 in connection with management presentations to describe its business.
The information in this Current Report on Form 8-K under Item 7.01, including the information contained in Exhibit 99.1, is being furnished to the Securities and Exchange Commission, and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except as shall be expressly set forth by a specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
|
Exhibit Number |
Description |
| 10.1 | Lease Agreement, dated August 21, 2017, by and between Corbus Pharmaceuticals, Inc. and River Ridge Limited Partnership. |
| 10.2 | Guarantee, dated August 21, 2017, by Corbus Pharmaceuticals Holdings, Inc. |
| 99.1 | Investor Presentation. |
Corbus Pharmaceuticals Holdings, Inc. ExhibitEX-10.1 2 ex10-1.htm Exhibit 10.1 LEASE LANDLORD RIVER RIDGE LIMITED PARTNERSHIP TENANT CORBUS PHARMACEUTICALS,…To view the full exhibit click here
About CORBUS PHARMACEUTICALS HOLDINGS, INC. (NASDAQ:CRBP)
Corbus Pharmaceuticals Holdings, Inc. is a clinical-stage pharmaceutical company. The Company is focused on the development and commercialization of therapeutics to treat rare or uncommon chronic and serious inflammatory and fibrotic diseases. The Company’s segment is developing and commercializing therapeutics to treat rare life-threatening inflammatory fibrotic diseases. Its product, Resunab, is a synthetic oral endocannabinoid-mimetic drug that is designed to resolve chronic inflammation and halt fibrotic processes without causing immunosuppression. Resunab is being evaluated in approximately three separate Phase II studies for the treatment of cystic fibrosis, systemic sclerosis and skin-predominant dermatomyositis. The United States Food and Drug Administration has granted Resunab Orphan Drug Designation, as well as Fast Track Status, for both cystic fibrosis and systemic sclerosis. Resunab is in Phase II clinical stage for the treatment of Systemic Lupus Erythematosus.