Arbutus inks $116 mln funding deal with SoftBank-backed Roivant
Arbutus Biopharma Corp (Nasdaq: ABUS), a Vancouver-based developer of hepatitis B virus (HBV) therapeutic solutions, has agreed to sell US$116.4 million in convertible preferred shares to Roivant Sciences Ltd, a Swiss healthcare business. The proceeds will be used by the company to develop and advance its clinical and pre-clinical HBV drug pipeline. Arbutus will also partner with Roivant to accelerate pipeline development, grow its geographic footprint, and maximize the value of its non-HBV assets. Roivant is backed by several investors, including SoftBank Vision Fund. Earlier in 2017, SoftBank led a US$1.1 billion investment in the company.
3 October 2017•4 mins read
