A male offender remains on the run following a stabbing on a bus in Melbourne’s east.

The victim  was found with multiple stab wounds on the footpath on Fitzsimons Lane in Templestowe at about 4.30pm yesterday.

He was taken to the Royal Melbourne Hospital with life-threatening injuries.

His condition has since improved and is this morning in a stable condition.

Investigators believe the teenager was involved in an altercation with another male who is possibly known to him.

Both the victim and attacker exited the bus and the offender ran off.

Police spent several hours at the scene last night but no arrests have been made.