Roivant invests $116 million in Arbutus for development of HBV treatment

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Arbutus Biopharma Corporation, an industry-leading hepatitis B virus (HBV) therapeutic solutions company based in Vancouver, Canada, today announced that it has signed a share purchase agreement with Roivant Sciences for the sale of convertible preferred shares for gross proceeds of $116.4 million.

Arbutus intends to use the proceeds to further develop and advance its clinical and preclinical HBV pipeline programs.

“We are pleased to receive this strategic investment from Roivant, Arbutus’ largest existing shareholder and a company known for its innovative approach to drug development,” said Dr. Mark J. Murray, President and CEO of Arbutus. “This financing meaningfully extends Arbutus’ operating runway to enable the generation of important clinical data for multiple pipeline programs. I look forward to leveraging Roivant’s infrastructure and capabilities to complement Arbutus and to accelerate our mission of developing a curative therapy for HBV.”

Following the close of this transaction, Roivant and Arbutus intend to explore working together to leverage Roivant’s infrastructure to accelerate more efficient development of Arbutus’ HBV drug pipeline. Arbutus also anticipates working with Roivant to expand its geographic footprint in HBV drug development and to maximize the value of Arbutus’ non-HBV assets, including Arbutus’ LNP and GalNAc platforms for the delivery of novel therapeutic modalities including RNA interference, mRNA, and gene editing technologies.

SOURCE: globenewswire
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