Arbutus Biopharma
Arbutus Biopharma is a clinical-stage biopharmaceutical company developing RNAi and oral PD-L1 combination therapies to achieve a functional cure for chronic hepatitis B, monetizing its GalNAc-siRNA and lipid nanoparticle platforms through licensing, royalties, and patent litigation settlements.
- Company typePublic
- Founded1992
- HeadquartersBurnaby, Canada
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What Arbutus Biopharma does
Arbutus Biopharma Corporation (NASDAQ: ABUS) is a clinical-stage biopharmaceutical company developing a combination therapeutic regimen to achieve a functional cure for chronic hepatitis B virus (HBV) infection. The company's pipeline is built around a three-pronged "Suppress, Reduce, Boost" strategy combining nucleos(t)ide analogues with its proprietary assets: imdusiran (AB-729), a subcutaneously-delivered GalNAc-conjugated RNAi therapeutic designed to reduce all HBV viral antigens including HBsAg; and AB-101, an oral small-molecule PD-L1 checkpoint inhibitor intended to reinvigorate the host immune response. Imdusiran received FDA Fast Track designation in April 2026 and has demonstrated functional cure in 46% of Phase 2a patients in the IM-PROVE I trial.
The company monetizes its technology through a mix of licensing royalties, milestone payments, and patent litigation proceeds rather than product sales. Its lipid nanoparticle (LNP) delivery platform — foundational to the first FDA-approved siRNA therapeutic ONPATTRO — is licensed to Genevant Sciences (in which Arbutus holds ~16% equity) and Alnylam Pharmaceuticals. A landmark $2.25 billion global settlement with Moderna in March 2026 ($950M upfront plus up to $1.3B contingent on appellate ruling) and a separate ~$190M settlement with Pfizer/BioNTech validate the LNP patent estate. Arbutus also collaborates with Barinthus Biotherapeutics on the IM-PROVE II combination trial. The company is headquartered in Warminster, Pennsylvania, employs 51–100 people, and operates with a leadership team installed in 2025 (CEO Lindsay Androski, CFO Tuan Nguyen, GC Andrew Sung); Roivant Sciences remains its largest shareholder with two board seats.
Arbutus Biopharma firmographics
Firmographics- Name
- Arbutus Biopharma
- Legal name
- Arbutus Biopharma Corporation
- Website
- https://arbutusbio.com
- Company type
- Public
- Founded year
- 1992
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Arbutus Biopharma is a clinical-stage biopharmaceutical company developing RNAi and oral PD-L1 combination therapies to achieve a functional cure for chronic hepatitis B, monetizing its GalNAc-siRNA and lipid nanoparticle platforms through licensing, royalties, and patent litigation settlements.
- Ownership category
- akta.pro rank
Arbutus Biopharma industry classification
Industry- Product category
- Hepatitis B Therapeutics
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414)
- SIC
- Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Infectious Disease Specialty Pharmaceuticals (Non-vaccine) (HLAIACAM)
Keywords
Where Arbutus Biopharma is headquartered
LocationHeadquarters
- HQ city
- Burnaby
- HQ country
- Canada
- HQ region
- North America
Offices1 record
Markets served
Arbutus Biopharma business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Licensing Royalties: Tiered low single-digit royalties on future sales of Genevant products covered by licensed LNP patents. If Genevant sub-licenses, Arbutus receives lesser of 20% of sublicensing revenue or tiered low single-digit royalties. Arbutus owns approximately 16% of Genevant common equity.
- Settlement Revenue: One-time settlement payments from patent litigation. Q1 2026 estimated license revenue of $178.7M from $950M Moderna settlement (July 2026 payment). Additional $1.3B contingent on appellate ruling. Separate $190M from Pfizer/BioNTech settlement.
- ONPATTRO Royalties: Tiered royalty payments on global net sales of ONPATTRO (first FDA-approved application of Arbutus' LNP technology by Alnylam). Arbutus sold royalty interest on future global net sales to OMERS but retains second lower royalty from Acuitas settlement.
- Milestone Payments: Potential milestone payment from Alnylam for a product targeting hepatocellular carcinoma, as referenced in Q4 2025 results.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Arbutus Biopharma product offering
Product offeringCore offering
Arbutus Biopharma is a clinical-stage biopharmaceutical company developing a portfolio of therapeutics to achieve a functional cure for chronic hepatitis B (HBV) infection. The company's lead asset, imdusiran (AB-729), is a subcutaneously delivered GalNAc-conjugated RNA interference (RNAi) therapeutic that reduces HBV viral antigens including HBsAg. Its second clinical asset, AB-101, is an oral small-molecule PD-L1 inhibitor designed to reinvigorate the host immune response. Combination regimens including imdusiran, AB-101, nucleos(t)ide analogues, and immunotherapeutics are being evaluated in Phase 2 clinical trials under the company's three-pronged Suppress, Reduce, Boost approach.
Product overview
Arbutus Biopharma is a clinical-stage biopharmaceutical company developing a portfolio of therapeutics for chronic hepatitis B virus (HBV) infection. The company's product strategy centers on a three-pronged Suppress, Reduce, Boost approach using combination regimens: Imdusiran (AB-729), an RNAi therapeutic that reduces viral antigens including HBsAg; AB-101, an oral PD-L1 inhibitor designed to reawaken the host immune response; combined with nucleos(t)ide analogue therapy and immunotherapeutics. The company is conducting multiple Phase 2 clinical trials (IM-PROVE I and IM-PROVE II) evaluating these assets in combination regimens aimed at achieving functional cure in chronic hepatitis B patients.
Differentiator
Problem solved
Functional benefit
Products and services
- Imdusiran (AB-729)
Quantifiable outcome
- 46% of Phase 2a patients achieved functional cure or discontinued NA therapy
- +3 more outcomes
Companies that use Arbutus Biopharma
Customer profileSegments1 record
Ideal customer profiles2 records
Arbutus Biopharma technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Arbutus Biopharma partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Genevant Sciences LtdcoreArbutus licensed exclusive rights to its LNP and ligand conjugate delivery platforms to Genevant for RNA-based applications outside of HBV (except where rights already licensed to third parties). Arbutus retains all HBV rights. Arbutus owns approximately 16% of Genevant common equity and receives tiered low single-digit royalties on future product sales and 20% of sublicensing revenue.
- Alnylam Pharmaceuticals, Inc.coreLicense agreement providing Arbutus royalty entitlements to Alnylam's global net sales of ONPATTRO (first FDA-approved application of Arbutus' LNP technology). Arbutus sold future royalty interest to OMERS but retains second lower royalty from Acuitas settlement.
- Barinthus Biotherapeutics plccoreClinical collaboration to evaluate AB-729 (imdusiran) in combination with Barinthus' proprietary immunotherapeutic VTP-300 in nucleos(t)ide reverse transcriptase inhibitor-suppressed patients with chronic HBV. Ongoing in IM-PROVE II trial.
Scale indicators10 records
Recent moves6 records
Expansion highlights5 records
Arbutus Biopharma competitors and assessment
Company assessmentDirect peers
- Brii Biosciences: China/US clinical-stage company developing combination therapies for HBV functional cure, including siRNA assets and immunotherapeutics, with overlapping patient population and combination-regimen strategy similar to Arbutus.
- Arrowhead Pharmaceuticals: Clinical-stage RNAi therapeutics company with multiple GalNAc-conjugated siRNA programs targeting liver diseases; directly comparable platform technology to Arbutus' GalNAc-siRNA delivery system.
- Barinthus Biotherapeutics: Clinical-stage immunotherapy company whose VTP-300 immunotherapeutic is being combined with Arbutus' imdusiran in the IM-PROVE II trial; directly comparable HBV cure approach and active clinical collaborator.
- Vir Biotechnology: Clinical-stage immunology company developing VIR-2218, an siRNA therapeutic for chronic hepatitis B, directly competing with Arbutus' imdusiran on the same antigen-reduction mechanism and same HBV patient population.
Broad incumbents
- Ionis Pharmaceuticals: Established antisense oligonucleotide (RNA-targeted) therapeutics company with multiple commercial and clinical-stage assets; comparable in RNA-based therapeutic modality targeting liver and other diseases.
- Roche: Major pharmaceutical company with established HBV franchise (Pegasys/pegylated interferon) and ongoing HBV cure research; overlapping HBV therapeutic space but operating as a broad incumbent rather than HBV-focused specialist.
- Alnylam Pharmaceuticals: Commercial-stage leader in RNAi therapeutics (Onpattro, Givlaari) and Arbutus' LNP licensee; comparable platform technology and a broader commercial RNAi franchise spanning multiple indications.
- Gilead Sciences: Market leader in chronic hepatitis B antivirals (Vemlidy) and a major participant in HBV cure research through partnerships and internal programs; overlapping patient population but established commercial franchise.
Emerging players
- Wave Life Sciences: Clinical-stage RNA therapeutics company developing siRNA and antisense oligonucleotide therapies for liver and neurological indications; platform-level overlap with Arbutus but earlier stage.
- Arcturus Therapeutics: Clinical-stage RNA medicines company developing both siRNA and mRNA therapeutics with proprietary LNP delivery; partial overlap with Arbutus on RNA delivery platforms and HBV-adjacent liver disease programs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Arbutus Biopharma social profiles
Digital presenceArbutus Biopharma financial estimates
Financial estimateRevenue estimate
Valuation estimate
Arbutus Biopharma leadership team
Management profileNumber of profiles
Profiles7 records
Arbutus Biopharma funding detail
Funding detailFunding overview
Funding rounds8 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Arbutus Biopharma M&A and investment
M&A and investmentM&A2 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Arbutus Biopharma
What does Arbutus Biopharma do?
Arbutus Biopharma is a clinical-stage biopharmaceutical company developing a portfolio of therapeutics to achieve a functional cure for chronic hepatitis B (HBV) infection. The company's lead asset, imdusiran (AB-729), is a subcutaneously delivered GalNAc-conjugated RNA interference (RNAi) therapeutic that reduces HBV viral antigens including HBsAg. Its second clinical asset, AB-101, is an oral small-molecule PD-L1 inhibitor designed to reinvigorate the host immune response. Combination regimens including imdusiran, AB-101, nucleos(t)ide analogues, and immunotherapeutics are being evaluated in Phase 2 clinical trials under the company's three-pronged Suppress, Reduce, Boost approach.
Is Arbutus Biopharma a public or private company?
Arbutus Biopharma is a public company. It is classified as public and is currently operating.
When was Arbutus Biopharma founded?
Arbutus Biopharma was founded in 1992. It employs 51 to 100 people.
Where is Arbutus Biopharma based?
Arbutus Biopharma is headquartered in Burnaby, Canada, in the North America region.
How does Arbutus Biopharma make money?
Four revenue lines are on record. Licensing Royalties are the primary driver. The others are settlement Revenue, ONPATTRO Royalties and milestone Payments.
Who are Arbutus Biopharma's main competitors?
Direct peers on record are Brii Biosciences, Arrowhead Pharmaceuticals, Barinthus Biotherapeutics and Vir Biotechnology. Broad incumbents are Ionis Pharmaceuticals, Roche, Alnylam Pharmaceuticals and Gilead Sciences. Emerging players are Wave Life Sciences and Arcturus Therapeutics.
Does Arbutus Biopharma have an API?
No public API is recorded for Arbutus Biopharma.
What industry is Arbutus Biopharma in?
Arbutus Biopharma's product category is Hepatitis B Therapeutics. Its primary akta.pro industry code is HLAIACAM, Infectious Disease Specialty Pharmaceuticals (Non-vaccine). Its NAICS code is 325414 and its SIC code is 2834.