Corbus Pharmaceuticals Holdings, Inc. announced that they have entered into a strategic collaboration with Kaken Pharmaceutical Co. Ltd. for the development and commercialization in Japan of Corbus’ investigational drug lenabasum for the treatment of systemic sclerosis (SSc) and dermatomyositis (“DM”), two rare and serious autoimmune diseases. Under the terms of the agreement, Kaken receives an exclusive license to commercialize and market lenabasum in Japan for systemic sclerosis and dermatomyositis. Kaken will make an upfront payment to Corbus of $27 million. Corbus will be eligible to receive in addition up to $173 million upon achievement of certain regulatory, development and sales milestones as well as double- digit royalties.