UNITY Biotechnology Announces Actions to Focus on Senolytic Programs in Ophthalmology and Neurology
September 15 2020 - 8:00AM
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.”
About UNITYUNITY is developing a new class of
therapeutics to slow, halt or reverse diseases of aging. UNITY's
current focus is on creating medicines to selectively eliminate or
modulate senescent cells and thereby provide transformative benefit
in age-related ophthalmologic and neurologic diseases. More
information is available at www.unitybiotechnology.com or
follow us on Twitter.
Forward-Looking Statements
This press release contains forward-looking statements including
statements related to UNITY’s understanding of cellular senescence
and the role it plays in diseases of aging, the potential for UNITY
to develop therapeutics to extend healthspan, including for
ophthalmologic and neurologic disease, the potential for UNITY to
successfully commence and complete clinical studies of UBX1325 for
diabetic macular edema and other ophthalmological diseases, the
expected timing of initial results of the Phase 1 study of UBX1325
in diabetic macular edema, the expected size of UNITY’s workforce
following the restructuring, the impact of the workforce reduction
on UNITY’s business, and UNITY’s expectations regarding the
sufficiency of its cash runway. These statements involve
substantial known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity,
performance or achievements to be materially different from the
information expressed or implied by these forward-looking
statements, including the risk that the COVID-19 worldwide pandemic
may continue to negatively impact the development of preclinical
and clinical drug candidates, including delaying or disrupting the
enrollment of patients in clinical trials. We may not actually
achieve the plans, intentions or expectations disclosed in our
forward-looking statements, and you should not place undue reliance
on our forward-looking statements. Actual results or events could
differ materially from the plans, intentions and expectations
disclosed in the forward-looking statements we make. The
forward-looking statements in this press release represent our
views as of the date of this release. We anticipate that subsequent
events and developments will cause our views to change. However,
while we may elect to update these forward-looking statements at
some point in the future, we have no current intention of doing so
except to the extent required by applicable law. You should,
therefore, not rely on these forward-looking statements as
representing our views as of any date subsequent to the date of
this release. For a further description of the risks and
uncertainties that could cause actual results to differ from those
expressed in these forward-looking statements, as well as risks
relating to the business of the Company in general, see UNITY’s
most recent Quarterly Report on Form 10-Q for the quarter ended
June 30, 2020, filed with the Securities and Exchange Commission on
July 31, 2020, as well as other documents that may be filed by
UNITY from time to time with the Securities and Exchange
Commission.
Investors
Endurance Advisors
Mike Zanoni
mzanoni@enduranceadvisors.com
Media
Canale Communications
Jason Spark
jason@canalecomm.com
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