UNITY Biotechnology Announces Appointment of Lynne Sullivan as Chief Financial Officer
UNITY Biotechnology, a company focused on developing therapeutics to combat aging-related diseases, has appointed Lynne Sullivan as its permanent Chief Financial Officer, effective September 1, 2020. With over 20 years in the biotech sector, including significant experience at Biogen and roles on several boards, Sullivan's expertise is expected to enhance UNITY's financial strategy and business development. The company aims to innovate in therapeutics targeting conditions such as osteoarthritis and neurological diseases, although it faces potential risks due to the ongoing COVID-19 pandemic affecting clinical trials.
- Appointment of Lynne Sullivan as CFO could provide fresh perspectives in financial strategy.
- Sullivan's extensive experience in finance within biotech may facilitate business development.
- Focusing on aging diseases presents a potential large and growing market.
- Ongoing COVID-19 pandemic may impact clinical trials and drug candidate development.
- Uncertainties inherent in drug development could hinder achieving projected goals.
SAN FRANCISCO, Aug. 31, 2020 (GLOBE NEWSWIRE) -- UNITY Biotechnology (“UNITY”) [NASDAQ:UBX], a biotechnology company developing therapeutics to extend healthspan by slowing, halting or reversing diseases of aging, today announced the appointment of Lynne Sullivan to the permanent role of chief financial officer, effective September 1, 2020.
“Lynne is an incredibly talented senior finance executive with deep biotech and pharmaceutical industry experience and has already played an impactful role at UNITY over the past several months as she became interim CFO,” said Anirvan Ghosh, Ph.D., chief executive officer of UNITY. “Lynne’s experience across corporate finance and business development functions will be key to UNITY’s future success. Having worked with Lynne previously, I know that she will be an outstanding member of our executive team as we redouble our efforts to develop a new class of therapeutics to slow, halt or reverse diseases of aging."
Lynne Sullivan brings more than 20 years of experience working in the pharma and biotech industry. Ms. Sullivan worked at Biogen for over 10 years, serving as senior vice president of finance with global responsibility for corporate finance, financial planning and analysis and corporate tax. Ms. Sullivan is a member of the board of directors of four publicly traded biopharmaceutical companies, Inozyme Pharma, Solid Biosciences, resTORbio and BiomX, and most recently served as the chief financial officer for Compass Therapeutics. She received an M.S. in taxation from Bentley University and a B.S.B.A. from Suffolk University. Ms. Sullivan was a Certified Public Accountant for over 20 years.
About UNITY
UNITY is developing a new class of therapeutics to slow, halt or reverse diseases of aging. UNITY's initial focus is on creating medicines to selectively eliminate or modulate senescent cells and thereby provide transformative benefit in age-related diseases, such as osteoarthritis, eye diseases, neurological diseases and pulmonary diseases. More information is available at www.unitybiotechnology.com or follow us on Twitter.
Forward-Looking Statements
This press release contains forward-looking statements including statements related to the potential for UNITY to develop therapeutics to extend healthspan. These statements involve substantial known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements, including the risk that the COVID-19 worldwide pandemic may continue to negatively impact the development of preclinical and clinical drug candidates, including delaying or disrupting the enrollment of patients in clinical trials, risks relating to the uncertainties inherent in the drug development process and risks relating to UNITY’s understanding of senescence biology. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements we make. The forward-looking statements in this press release represent our views as of the date of this release. We anticipate that subsequent events and developments will cause our views to change. However, while we may elect to update these forward-looking statements at some point in the future, we have no current intention of doing so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this release. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of the Company in general, see UNITY’s most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2020, filed with the Securities and Exchange Commission on July 31, 2020, as well as other documents that may be filed by UNITY from time to time with the Securities and Exchange Commission.
This press release concerns drug candidates that are under clinical investigation and which have not yet been approved for marketing by the U.S. Food and Drug Administration. They are currently limited by Federal law to investigational use, and no representation is made as to their safety or effectiveness for the purposes for which they are being investigated. All forward-looking statements are qualified in their entirety by this cautionary statement.
Investors Endurance Advisors Mike Zanoni Media Canale Communications Jason Spark
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