Cor­bus Phar­ma reels in $25M to pay for its PhI­Ib cys­tic fi­bro­sis study, shares sink

On Mon­day Cor­bus Phar­ma­ceu­ti­cals tout­ed a deal with the FDA to lim­it the pri­ma­ry goal of its Phase IIb tri­al for lenaba­sum as a new ther­a­py for cys­tic fi­bro­sis to a sin­gle tar­get for the event rate of pul­monary ex­ac­er­ba­tions. To­day, the Nor­wood, MA-based biotech $CRBP is telling us that they reeled in $25 mil­lion to pay for the study.

The cash, says Cor­bus, is com­ing from The Cys­tic Fi­bro­sis Foun­da­tion. A spokesper­son for the com­pa­ny says the foun­da­tion is mak­ing an award of the mon­ey, but al­so gets war­rants for its in­vest­ment. The CF pa­tient group al­so pro­vid­ed $5 mil­lion to help pay for the Phase II.

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