Unity Biotechnology Finalizes $85 Million IPO Terms
Unity Biotechnology has filed proposed terms for its U.S. IPO.
The firm is developing technologies to remove senescent cells from certain disease indications.
UBX’s approach is differentiated and promising, but the company is still at pre-clinical stage
The company is developing a pipeline of medicines that promise to treat diseases in the areas of osteoarthritis, ophthalmology and pulmonary disease.
UBX has a promising approach to disease treatment, but is still at an extremely early stage.
Company & Technology
Brisbane, California-based Unity was founded in 2009 as Forge and changed its name to Unity in 2015.
Management is headed by Chairman and CEO Keith Leonard, who has been with the firm since January 2016 and was previously President and CEO of KYTHERA Biopharmaceuticals (KYTH) through its acquisition by Allergan (AGN) in 2015.
Investors in the firm have invested $174 million to-date between several rounds of financing and include firms such as ARCH Venture Partners (27.5% pre-IPO), WuXi Pharma (8.9%), Venrock (7.3%), Mayo Clinic (6.9%), Baillie Gifford & Co. (7.0%) and Fidelity Growth Company Commingled Pool (6.1%). CEO Keith Leonard owns 5.8% and President Nathaniel David owns 8.5%.
Unity has created an early stage pipeline of senolytics medicines that operate to selectively eliminate senescent cells in the areas of
osteoarthritis, ophthalmology and pulmonary disease.