Date: 2018-02-08

Type of information: Restructuring


Company: Arbutus Biopharma (Canada)

Therapeutic area: Infectious diseases

Type agreement: restructuring

Action mechanism:

Disease: hepatitis B


  • • On February 8,2018, Arbutus Biopharma, an industry-leading Hepatitis B Virus (HBV) therapeutic solutions company, announced a site consolidation and organizational restructuring to better align its HBV business in Warminster, PA. These organizational changes are expected to result in increased efficiency, a more flexible variable cost structure, and additional preservation of the Company’s cash reserves. The company’s Lipid Nanoparticle (LNP) technology group will remain intact.
  • To achieve this alignment, Arbutus will reduce its global workforce by approximately 31 percent and plans to close its Burnaby facility. The company will incur restructuring costs related to one-time employee termination benefits, employee relocation costs, and site closure costs currently estimated to be $5.0 million, which will be primarily paid in cash in the second quarter of 2018.

Financial terms:

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Is general: Yes