UNITY Biotechnology Announces Restructuring to Advance Corporate Strategy and Focus on Key Ophthalmology Programs

• Strategic realignment to focus capital resources on clinical programs and extend cash runway into Q1 2023
• 12-week data from Phase 2a study of UBX1325 in diabetic macular edema (DME) expected mid-2022
• 16-week data from Phase 2 study in wet age-related macular degeneration (wet AMD) expected in Q4 2022

UNITY Biotechnology, Inc. (“UNITY”) [NASDAQ: UBX], a biotechnology company developing therapeutics to slow, halt, or reverse diseases of aging, today announced it has initiated a restructuring program to align its resources on later-stage programs in ophthalmology while further extending operating capital into Q1 2023.

Strategic Focus Areas

UNITY has aligned resources to focus on its clinical programs in ophthalmology and deliver on key development milestones:

• UBX1325 12-week safety and efficacy data from the Phase 2a DME study (UBX1325-02 Study) by mid-year 2022 as well as 24-week safety and efficacy data from that study before year-end 2022
• UBX1325 16-week safety and efficacy data from the Phase 2 wet AMD study (UBX1325-03 Study) before year-end 2022
• UBX1325 24-week safety and efficacy data from the additional wet AMD cohort of the Phase 1 study (UBX1325-01 Study) during 1H 2022
• Tie2/VEGF bispecific preclinical data to support selection of advanced candidate by mid-year 2022

Revised Financial Guidance

Actions to prioritize ophthalmology programs and implement cost saving measures are expected to extend cash runway into Q1 2023, enabling UNITY to achieve multiple key clinical data readouts for UBX1325 as well as support the Tie2/VEGF bispecific program through advanced candidate nomination with current cash and cash equivalents. All other pipeline programs will be paused to focus resources on these advanced programs. UNITY will reduce its workforce, primarily in Discovery Research, by approximately 50% in order to optimize capital allocation and align with key strategic priorities, reducing its staff to 34 full-time employees by the middle of the year.

“I am incredibly proud of the progress that our team has made, highlighted by the impressive topline Phase 1 data from our lead program, UBX1325, and we are now fully focused on delivering on our Phase 2 studies in patients with diabetic macular edema and wet age-related macular degeneration,” said Anirvan Ghosh, Ph.D., chief executive officer of UNITY. “It was a difficult but prudent decision to align our resources around our ophthalmology programs and I believe this sharpened focus will propel us forward to key milestones, including Phase 2 data inflection points this year. These datasets could represent a transformative therapeutic option for patients based on UBX1325’s novel mechanism of action. I want to extend my sincere appreciation and gratitude to all of our colleagues for the foundational work that has brought us to this point, and for their dedication and service to UNITY while striving to develop new treatments for patients with diseases of aging.”

About UNITY

UNITY 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.