Arbutus Announces Resignation of Board Member

WARMINSTER, Pa., Jan. 27, 2023 (GLOBE NEWSWIRE) -- Arbutus Biopharma Corporation (Nasdaq: ABUS), a clinical-stage biopharmaceutical company leveraging its extensive virology expertise to develop novel therapeutics that target specific viral diseases, today announced that Tram Tran, MD has notified the Company of her intention to resign from the Company’s Board of Directors, effective February 26, 2023. Dr. Tran will be transitioning into public service commencing February 27, 2023, that will preclude her participation on the Arbutus and other pharmaceutical and biotechnology Boards.

Dr. Tran joined the Arbutus Board of Directors in November 2021 and served as a member of the Executive Compensation and Human Resources Committee. During her tenure, she has contributed her extensive virology and clinical development expertise to provide guidance and valuable insights to drive the company’s hepatitis B and COVID-19 pipeline.

The Board of Directors and the Company’s management team would like to thank Dr. Tran for her valuable contributions to Arbutus and wish her well with her new career opportunity.

Dr. Tran’s decision to resign is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. The Company will immediately begin a search for a new independent board member to replace Dr. Tran.

About Arbutus

Arbutus Biopharma Corporation (Nasdaq: ABUS) is a clinical-stage biopharmaceutical company leveraging its extensive virology expertise to develop novel therapeutics that target specific viral diseases. Our current focus areas include Hepatitis B virus (HBV), SARS-CoV-2, and other coronaviruses. To address HBV, we are developing a RNAi therapeutic, an oral PD-L1 inhibitor, and an oral RNA destabilizer to potentially identify a combination regimen with the aim of providing a functional cure for patients with chronic HBV by suppressing viral replication, reducing surface antigen and reawakening the immune system. We believe our lead compound, AB-729, is the only RNAi therapeutic with evidence of immune re-awakening. It is currently being evaluated in multiple phase 2 clinical trials. We also have an ongoing drug discovery and development program directed to identifying novel, orally active agents for treating coronavirus (including SARS-CoV-2). In addition, we are exploring oncology applications for our internal PD-L1 portfolio. For more information, visit www.arbutusbio.com.