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Norwood, Massachusetts-based Corbus Pharmaceuticals (NASDAQ: CRBP), a Phase 3 clinical stage drug development company targeting rare, chronic, inflammatory and fibrotic diseases, announced today that the U.S. Patent and Trademark Office issued it a patent for pharmaceuticals containing Anabasum. The patent covers treatment of fibriotic diseases including systemic sclerosis, dermatomyositis, cystic fibrosis and others. The patent gives Corbus intellectual property protection in the US for anabasum through 2034.

In a day when many cannabis stocks fell as investors took profits, Corbus stock rose 7% on the patent news to close at $7.65.

Corbus recently received a patent covering anabasum use for inflammatory diseases such as systemic lupus erythematosus, multiple sclerosis, rheumatoid arthritis, psoriasis and others.

Anabasum, the company’s lead product candidate, is a synthetic oral endocannabinoid-mimetic drug candidate designed to treat chronic inflammation and fibrosis. It triggers physiologic pathways that resolve inflammation, speed bacterial clearance and halt fibrosis. Nonclinical and human clinical studies have shown anabasum has favorable safety, tolerability and pharmacokinetic profiles.

The Company expects to begin a Phase 2 study of anabasum for systemic lupus erythematosus, a Phase 3 study for systemic sclerosis and a Phase 2b study for cystic fibrosis in the fourth quarter of 2017.

Source: Corbus press release