Arbutus Biopharma (ABUS) Baird's 2024 Global Healthcare Conference summary

Strategic focus and pipeline overview

• Focused on developing a functional cure for hepatitis B, a large global market with 250 million chronically infected patients and low current cure rates.

• Lead asset Imdusiran (siRNA) is in two phase II-A studies, combined with pegylated interferon and VTP-300, with an added Nivolumab arm.

• AB-101, a small-molecule, liver-targeted PD-L1 inhibitor, is in phase I-A/1-B studies, progressing from healthy volunteers to hepatitis B patients.

• Pipeline includes internally developed assets and a patented LNP technology estate, generating licensing revenue and involved in ongoing litigation.

• Approach to cure involves suppressing HBV DNA, reducing surface antigen, and boosting host immunity.

Clinical development and recent data

• Imdusiran reduces HBV DNA, surface antigen, and e antigen, with infrequent dosing and good tolerability.

• In the IM-PROVE I trial, 33% of patients on 24 weeks of interferon plus Imdusiran achieved surface antigen loss, with higher rates in those with lower baseline antigen.

• IM-PROVE II (Imdusiran + VTP-300) showed statistically significant surface antigen reduction at week 72, with longer response timelines than interferon.

• Stopping criteria for both studies include surface antigen below 100, allowing discontinuation of nuke therapy.

• Ongoing studies are evaluating combinations with Nivolumab and the oral PD-L1 inhibitor, with preliminary data expected in the fall.

Market opportunity and business development

• Hepatitis B market is twice the size of hepatitis C, with significant unmet need and low current functional cure rates (3–5%).

• Targeting a 20% functional cure rate, which would be a major advance over current therapies.

• Out-licensed Imdusiran rights in China and maintains ongoing business development discussions for broader partnerships.

• Commercialization strategy considers partnerships, especially for large markets like Asia.