Unity Biotechnology announced it has raised approximately $43.8 million from the exercise of warrants originally issued in October 2023. According to the company, the warrants were exercised at a price of $1.47 per share, resulting in the issuance of over 29 million shares of common stock.
The company said proceeds will be used to advance its clinical pipeline targeting age-related diseases, with a primary focus on ophthalmology programs. Unity Biotechnology claims its lead candidate, UBX1325, is in Phase 2 studies for diabetic macular edema and wet age-related macular degeneration.
According to the company, the additional capital will also fund ongoing research activities and general corporate purposes. Unity Biotechnology said its broader strategy centers on developing therapeutics that selectively eliminate senescent cells, which accumulate with age and contribute to disease.
The company claims its senolytic approach has the potential to modify underlying disease mechanisms rather than only treating symptoms. Unity Biotechnology noted it remains committed to progressing its clinical programs and exploring new indications where cellular senescence plays a key role.
Unity Biotechnology said the warrant exercise strengthens its balance sheet as it advances late-stage clinical development and prepares for future milestones.
