Corbus Pharmaceuticals will occupy 32,733 square feet at the newly-renovated 500 River Ridge Drive in Norwood early next year.

The company is relocating and expanding from 10,414 square feet at 100 River Ridge Drive.

Founded in 2014, Corbus is in Phase 2 trials for its anabasum drug which is used to treat systemic sclerosis and cystic fibrosis. The 7-year lease beginning in February calls for payments of $470,000 in the first year and rising to $908,341 in the seventh year, according to an SEC filing.

CBRE/NE’s Curtis Cole and Matt Siciliano represented Corbus Pharmaceuticals. CBRE/NE’s Nat Kessler and Patrick Joyce represented management agent Cornerstone Corp.

Corbus considered locations along Route 128 as far north as Needham before deciding to grow at River Ridge, Cole said.

“They just felt that the value they got in Norwood was pretty significant and moving into 500 River Ridge was a good representation of who they are,” he said.

500 River Ridge was renovated in 2016 with a new cafe, conference/training rooms, lobby, roof and parking lots.

In a statement, Corbus CFO Sean Moran said River Ridge offers good value and convenient commutes for the company’s existing workforce, which has outgrown its existing offices.