UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of
The
Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 5, 2019
CORBUS PHARMACEUTICALS HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
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Delaware
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001-37348
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46-4348039
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(State
or other jurisdiction
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(Commission
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(IRS
Employer
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of
incorporation)
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File
Number)
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Identification
No.)
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500
River Ridge Drive, Norwood, MA
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02062
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(Address
of principal executive offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code:
(617) 963-0100
Not Applicable
(Former name or former address, if changed since last report.)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2. below):
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[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [X]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [X]
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Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
April 5, 2019, the Board of Directors (the “Board”) of Corbus Pharmaceuticals Holdings, Inc. (the “Company”),
upon the recommendation of the Nominating and Corporate Governance Committee of the Board, appointed Rachelle Jacques, age 47,
to serve as a member of the Board. Ms. Jacques will hold this position until the next annual meeting of the Company’s stockholders
or until her successor is elected and qualified, subject to her earlier resignation or removal.
Ms.
Jacques has served as the Chief Executive Officer of Enzyvant Therapeutics, Inc., a private biopharmaceutical company focused
on developing therapies for patients with rare diseases, since February 2019. Previously, beginning in 2017, she served as the
Senior Vice President and Global Complement Franchise Head at Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN), where she was responsible
for commercialization strategy and execution. From 2016 to 2017, Ms. Jacques was Vice President of U.S Hematology Marketing at
Shire plc, which acquired Baxalta Inc. (“Baxalta”) in 2016. Prior to this role, from 2015 to 2016, Ms. Jacques served
as Vice President of Business Operations at Baxalta after its spinoff from Baxter International Inc. (NYSE: BAX) (“Baxter”)
in 2015. From 2013 to 2015, Ms. Jacques served in leadership positions, including Vice President of Finance, US BioScience Business,
at Baxter. Prior to joining Baxter, from 1995 to 2013, Ms. Jacques served in various roles of increasing responsibility at Dow
Corning Corporation, including U.S. and international operational management roles. Ms. Jacques received her B.A. degree in business
administration from Alma College.
Ms.
Jacques will participate in the Company’s standard non-employee director compensation plan, including an initial option
grant to purchase 68,000 shares of the Company’s common stock, par value $0.0001 per share (“Common Stock”)
upon joining the Board, an annual cash retainer fee of $35,000 (pro-rated for the current year), and an annual stock option grant
to purchase shares of the Company’s Common Stock.
There
are no transactions between Ms. Jacques and the Company that would be reportable under Item 404(a) of Regulation S-K.
Concurrently
with the Agreement, the Company entered into an indemnification agreement with Ms. Jacques (the “Indemnification Agreement”),
in the form previously entered into by the Company with each of the Company’s directors and executive officers, the form
of which was filed as Exhibit 10.15 to the Amendment No. 1 to Company’s Registration Statement on Form S-1 filed with the
Securities and Exchange Commission on September 30, 2014. The Indemnification Agreement, subject to limitations contained therein,
will obligate the Company to indemnify Ms. Jacques, to the fullest extent permitted by applicable law, for certain expenses, including
attorneys’ fees, judgments, penalties, fines and settlement amounts actually and reasonably incurred by him in any threatened,
pending or completed action, suit, claim, investigation, inquiry, administrative hearing, arbitration or other proceeding arising
out of her services as a director. Subject to certain limitations, the Indemnification Agreement provides for the advancement
of expenses incurred by the indemnitee, and the repayment to the Company of the amounts advanced to the extent that it is ultimately
determined that the indemnitee is not entitled to be indemnified by the Company. The Indemnification Agreement also creates certain
rights in favor of the Company, including the right to assume the defense of claims and to consent to settlements. The Indemnification
Agreement does not exclude any other rights to indemnification or advancement of expenses to which the indemnitee may be entitled
under applicable law, the certificate of incorporation or bylaws of the Company, any agreement, a vote of stockholders or disinterested
directors, or otherwise.
The
foregoing is a summary of the material terms of the Indemnification Agreement and does not purport to be complete.
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I
tem 7.01.
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Regulation
FD Disclosure.
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On
April 8, 2019, the Company issued a press release announcing the appointment of Ms. Jacques to its Board of Directors. A copy
of the press release is furnished as Exhibit 99.1 hereto and shall not be deemed “filed” for the purposes of Section
18 of the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference
in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific
reference in such a filing.
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Item
9.01.
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Financial
Statements and Exhibits.
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(d)
The following exhibit is furnished with this report:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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CORBUS
PHARMACEUTICALS HOLDINGS, INC.
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Dated:
April 8, 2019
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By:
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/s/
Yuval Cohen
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Name:
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Yuval
Cohen
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Title:
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Chief
Executive Officer
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EXHIBIT
INDEX
Corbus
Pharmaceuticals Appoints Rachelle Jacques to Board of Directors
●
Appointment brings global commercialization and marketing experience for rare diseases
to the Board of Directors
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Appointment aligns with Company’s vision to become the leader in the treatment of
inflammatory and fibrotic diseases
by targeting the endocannabinoid system
Norwood,
MA, April 8, 2019
– Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) (“Corbus” or the “Company”)
today announced the appointment of Rachelle Jacques to its Board of Directors.
Ms.
Jacques has more than two decades of experience in U.S. and global commercial leadership and marketing, including launching multiple
medicines for rare diseases. She currently serves as Chief Executive Officer of Enzyvant Therapeutics, Inc, a private biopharmaceutical
company focused on developing therapies for patients with rare diseases. Prior to joining Enzyvant, Ms. Jacques was the Senior
Vice President and Global Complement Franchise Head at Alexion Pharmaceuticals, Inc., responsible for global commercialization
strategy and execution of therapies for rare diseases. Previously, she was Vice President of U.S Hematology Marketing at Shire
plc, which acquired Baxalta Inc. She also served as Vice President of Business Operations at Baxalta after its spinoff from Baxter
International Inc.
“We
are delighted to welcome Rachelle to our Board of Directors,” said Alan Holmer, Chairman of Corbus’ Board of Directors.
“She brings invaluable biopharmaceutical industry perspective to Corbus gained from her over 25-year career. We look forward
to benefiting from her exceptional insights into business operations as well as global and country-specific commercial marketing
and sales as the Company lays the groundwork for its commercialization strategy.”
“I
have come to recognize and admire the pioneering work Corbus is undertaking in the development of treatments for rare inflammatory
and fibrotic diseases, and I am excited to join a team that shares my dedication to patient-centric health solutions,” stated
Ms. Jacques. “I look forward to working with Corbus’ leadership team and my fellow directors as the Company develops
its go-to-market commercial strategies ahead of topline results from several key studies in 2020.”
“Rachelle
is an accomplished biopharmaceutical executive with extensive commercial experience building and scaling successful drug franchises,
and I am pleased to welcome her to our Board,” added Yuval Cohen, Ph.D., Chief Executive Officer of Corbus. “She will
be a real asset to our team as we bring our much-needed therapies to market and continue to advance our vision to become the leader
in the treatment of inflammatory and fibrotic diseases by targeting the endocannabinoid system.”
With
Ms. Jacques’ appointment, Corbus’ Board has been expanded and is now composed of seven highly qualified directors,
five of whom are independent.
About
Corbus
Corbus
Pharmaceuticals Holdings, Inc. is a Phase 3 clinical-stage pharmaceutical company focused on the development and commercialization
of novel therapeutics to treat inflammatory and fibrotic diseases by leveraging its pipeline of endocannabinoid system-targeting
synthetic drug candidates. The Company’s lead product candidate, lenabasum, is a novel, synthetic, oral, selective cannabinoid
receptor type 2 (CB2) agonist designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently being evaluated
in systemic sclerosis, cystic fibrosis, dermatomyositis, and systemic lupus erythematosus.
Corbus
is also developing a pipeline of drug candidates from more than 600 novel compounds targeting the endocannabinoid system. The
pipeline includes CRB-4001, a 2nd generation, peripherally-restricted, selective cannabinoid receptor type 1 (CB1) inverse agonist.
Potential indications for CRB-4001 include NASH, among others. Corbus plans to start a Phase 1 study of CRB-4001 in 2019, intended
to be followed by a National Institutes of Health (NIH)-funded proof-of-concept Phase 2 study.
For
more information, please visit www.CorbusPharma.com and connect with the Company on Twitter, LinkedIn, and Facebook.
Forward-Looking
Statements
This
press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934 and Private Securities Litigation Reform Act, as amended, including those relating
to the Company’s product development, clinical and regulatory timelines, market opportunity, competitive position, possible
or assumed future results of operations, business strategies, potential growth opportunities and other statement that are predictive
in nature. These forward-looking statements are based on current expectations, estimates, forecasts and projections about the
industry and markets in which we operate and management’s current beliefs and assumptions.
These
statements may be identified by the use of forward-looking expressions, including, but not limited to, “expect,” “anticipate,”
“intend,” “plan,” “believe,” “estimate,” “potential, “predict,”
“project,” “should,” “would” and similar expressions and the negatives of those terms. These
statements relate to future events or our financial performance and involve known and unknown risks, uncertainties, and other
factors which may cause actual results, performance or achievements to be materially different from any future results, performance
or achievements expressed or implied by the forward-looking statements. Such factors include those set forth in the Company’s
filings with the Securities and Exchange Commission. Prospective investors are cautioned not to place undue reliance on such forward-looking
statements, which speak only as of the date of this press release. The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information, future events or otherwise.
Corbus
Pharmaceuticals Contacts:
Institutional
Investor Inquiries
Ted
Jenkins, Senior Director, Investor Relations and Communications
Phone:
+1 (617) 415-7745
Email:
ir@corbuspharma.com
All
Other Investor Inquiries
Jenene
Thomas
Jenene
Thomas Communications, LLC
Phone:
+1 (833) 475-8247
Email:
crbp@jtcir.com
Media
Inquiries
Lindsey
Smith, Associate Director, Investor Relations and Corporate Communications
Phone:
+1 (617) 415-7749
Email:
mediainfo@corbuspharma.com