Exhibit 99.1
UNITY Biotechnology Announces Actions to Focus on Senolytic Programs in Ophthalmology and Neurology
- Corporate restructuring to extend cash runway through mid-2022 and key milestones -
- UBX1325 to enter clinical development in patients with diabetic macular edema -
SAN FRANCISCO, Calif., Sept. 15, 2020 (GLOBE NEWSWIRE) - UNITY Biotechnology (“UNITY”) [NASDAQ:UBX], a biotechnology company developing therapeutics to extend healthspan by slowing, halting or reversing diseases of aging, today announced it has initiated a restructuring to align its resources on cellular senescence programs in ophthalmology and neurology while further extending operating capital. UNITY will advance UBX1325 to Phase 1 clinical development in patients with diabetic macular edema, and expects to dose the first patient in the second half of 2020, consistent with prior guidance.
UNITY has prioritized its portfolio and aligned resources to deliver on key development milestones and drive innovation:
| | • | | UBX1325 targets Bcl-xL, a novel mechanism to eliminate senescent cells in age-related diseases of the eye. The UBX1325 Phase 1 study in diabetic macular edema is expected to begin before the end of the year. UBX1967 remains in the portfolio as a molecularly distinct backup to UBX1325. |
| | • | | UNITY’s neurology programs will target core features of neurodegenerative diseases. These programs build upon UNITY’s foundational cellular senescence research platform and will focus on senolytic therapies for neurological diseases as well as exploring novel mechanisms for cognitive benefit. |
| | • | | UNITY’s research programs will explore therapeutic modalities beyond small molecule approaches to significantly expand the target space for modulating senescent cell biology implicated as drivers of diseases of aging. |
Revised Financial Guidance
UNITY will reduce its workforce by approximately 30% to optimize capital allocation and align with key strategic priorities, resulting in an estimated 75 full-time employees by the end of the year. These steps to focus resources are expected to extend the cash runway through mid-2022, with current cash and cash equivalents projected to fund UNITY through key clinical data readouts for UBX1325 and IND-enabling studies for UBX1967.
“UNITY is a pioneer in the development of therapeutics targeting senescent cells at the crux of many age related diseases, and we will continue to build on this scientific foundation as we advance our pipeline,” said Anirvan Ghosh, Ph.D., chief executive officer of UNITY. “At UNITY, we have an extraordinary team that has contributed greatly to the advancement of this field, and we are deeply grateful for the contributions that all of our employees have made. Moving forward we will have a leaner and more agile team, which is well-resourced to advance our pipeline programs to key milestones.”
Dr. Ghosh added: “We are excited about advancing UNITY’s lead ophthalmology program, UBX1325, into clinical studies in patients with diabetic macular edema, an indication with a well-defined development path and objective endpoints. In addition, I see significant opportunities emerging from programs in our preclinical pipeline targeting ophthalmologic and neurologic disease. I look forward to using my experience leading drug discovery and development programs in these areas to advance the development of a new class of high efficacy therapies.”
