Corbus Pharmaceuticals Strengthens Balance Sheet with up to $121 Million in New Capital Aggregate of $71 million of ATM proceeds executed at weighted average price of $7.70 per share Received $20 million first tranche fr

Pharmaceuticals Strengthens Balance Sheet with up to $121 Million in New Capital

MA, July 29, 2020- Corbus Pharmaceuticals Holdings, Inc. (NASDAQ: CRBP) ("Corbus"

or the "Company"), a clinical-stage drug development company pioneering transformative medicines that target the endocannabinoid

system, today announced it has received an aggregate of $71 million in gross proceeds from its at-the-market (ATM) offering coupled

with the execution of a $50 million debt financing facility with K2 HealthVentures

("K2HV"), a healthcare-focused specialty finance company.

to the previously disclosed $75 million ATM facility, Corbus

has sold 9,167,080 shares at a weighted average price of $7.70 per

LLC is serving as sales agent for the ATM offering.

July 28, 2020, Corbus entered a debt financing facility with K2HV pursuant to which K2HV agreed to provide up to $50 million to

Corbus. Corbus received the first $20 million tranche upon signing the debt financing agreement

and has the option to draw $20 million from the second tranche and $10 million from the third tranche, in each case upon

achievement of certain regulatory and developmental milestones. K2HV is an alternative investment firm that partners with

innovative life sciences and healthcare companies whose success will positively impact and improve outcomes for patients.

partnership with K2 HealthVentures

combined with the proceeds from our ATM transaction strengthens Corbus' balance sheet,

providing us with a meaningful cash runway and increasing our ability to have strategic flexibility post data," commented

Yuval Cohen, Ph.D., Chief Executive Officer of Corbus.

Stanley & Co. LLC acted as sole placement agent for the debt financing.

Company expects its cash and cash equivalents on hand of $101 million at July 28, 2020 to fund operations into the third

shares of common stock described above were sold by the Company pursuant to a shelf registration statement on Form S-3 (File No.

333-237588), filed with the Securities and Exchange Commission on April 7, 2020, which included a prospectus relating to the ATM

. Copies of the prospectus may be obtained from Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison

Avenue, 2nd Floor, New York, New York 10022, by telephone at (877) 821-7388, or by email at Prospectus_Department@Jefferies.com.

Electronic copies of the prospectus are also available on the SEC's website at http://www.sec.gov.

press release does not constitute an offer to sell or the solicitation of an offer to buy any shares of Common Stock, nor shall

there be any sale of such shares in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful

prior to registration or qualification under the securities laws of any such state or other jurisdiction.

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 rationally designed, endocannabinoid

system-targeting drug candidates. The Company's lead product candidate, lenabasum, is a novel, oral, selective cannabinoid

receptor type 2 (CB2) agonist rationally designed to resolve chronic inflammation and fibrotic processes. Lenabasum is currently

being evaluated in systemic sclerosis, cystic fibrosis, dermatomyositis and systemic lupus erythematosus.

is also developing a pipeline of drug candidates targeting the endocannabinoid system. The pipeline includes CRB-4001, a 2nd generation,

selective cannabinoid receptor type 1 (CB1) inverse agonist designed to be peripherally restricted. Potential indications for

CRB-4001 include nonalcoholic steatohepatitis (NASH), among others. Corbus expects data from its Phase 1 safety study in 2020.

is not approved for the treatment of systemic sclerosis, dermatomyositis, cystic fibrosis or systemic lupus erythematosus. CRB-4001

is not approved for the treatment of NASH/NAFLD. For more information on Corbus' clinical programs, please visit here.

visit www.CorbusPharma.com and connect with the Company on Twitter, LinkedIn, and Facebook.

HealthVentures is an alternative investment firm focused on providing flexible, long-term financing solutions to innovative private

and public companies in the life sciences and healthcare industries. The investment team comprises collaborative, experienced

professionals with diverse backgrounds in finance and operations, as well as deep domain knowledge across various healthcare sectors.

A uniquely flexible, permanent capital structure enables the firm to provide creative, adaptive financing solutions and meet the

evolving capital needs of its portfolio companies as they grow. K2HV is driven by dual goals of Profit and Purpose - aiming

to fuel the growth of innovative companies that will ultimately improve the lives of patients and giving a percentage of investment

profits back to underserved areas in healthcare. www.k2hv.com.

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.

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, including the potential impact of the recent COVID-19 pandemic and the potential impact of sustained social distancing

efforts, on our operations, clinical development plans and timelines, 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.

Pharmaceuticals Contacts:

Jenkins, Senior Director, Investor Relations and Corporate Communications

Phone: +1 (617) 415-7745

Smith, Director, Investor Relations and Corporate Communications