Af­ter rais­ing VC mon­ey weeks ago, Uni­ty tacks on an $85M IPO; Abpro sets terms for $60M IPO

→ Uni­ty Biotech­nol­o­gy has pulled off its leap of faith, pock­et­ing an $85 mil­lion IPO with a case built on pre­clin­i­cal da­ta. The an­ti-ag­ing drug de­vel­op­er priced its 5 mil­lion shares at $17, right in the mid­dle of the $16 to $18 range an­nounced ear­li­er. Based in Bris­bane, CA, Uni­ty will now list on Nas­daq un­der the sym­bol $UBX.

Rid­ing a surge of biotech in­ter­est in age-re­lat­ed dis­eases, Uni­ty is poised to start their first hu­man study of UBX0101 on os­teoarthri­tis — one of many dis­eases they hope to treat by flush­ing senes­cent cells out of bod­ies. Ex­ecs al­so plan for the IPO pro­ceeds to go to­ward clin­i­cal test­ing of an­oth­er com­pound, dubbed UBX1967, late 2019 in one of the eye dis­eases it’s be­ing de­vel­oped for. They range from di­a­bet­ic retinopa­thy and di­a­bet­ic mac­u­lar ede­ma to glau­co­ma and age-re­lat­ed mac­u­lar de­gen­er­a­tion.

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