Unity Biotechnology, a US-based developer of treatments for diseases related to aging, closed a $116m series B round backed by medical research companies WuXi PharmaTech and Mayo Clinic yesterday.
Financial services group Fidelity Management and Research Company also took part in the round, as did Arch Venture Partners, Baillie Gifford, Partner Fund Management, Venrock and Bezos Expeditions. Mayo Clinic invested in the round through its corporate venturing unit, Mayo Clinic Ventures.
Unity is working on drug treatments that will prevent, stop or reverse aging-related diseases like osteoarthritis, atherosclerosis, glaucoma and kidney disease by selectively eliminating senescent cells.
The company was launched by venture capital firm Arch in February 2016 with an undisclosed amount of funding from WuXi PharmaTech, Mayo Clinic and Venrock. It will use the series B cash for cellular senescence research and to advance its first preclinical programs into clinical trials.
The round was disclosed along with news that Unity founder and CEO Nathaniel David will transfer to a president role, with the CEO position taken by Keith Leonard.
David and Leonard were co-founders of Kythera Biopharmaceuticals, which was acquired by pharmaceutical producer Allergan for $2.1bn in October 2015, three years after it went public.