2019 Planning Process and Changes

uBiome is building out a more robust financial department, including the recent hire of an experienced CFO. New financial functions have been put into place, including a new budgeting process. With these new structures in place, it became clear to us that some departments were over-scaled. A realignment of resources was needed within the company to better support our mission. In other words, we overbuilt in some places and underbuilt in others.

As we began our 2019 planning process, we realized that it was necessary to let a portion of our staff go in order to achieve our goals. This affected approximately 30 employees in the United States, or roughly 10 percent of staff, as well as additional employees in our international offices. Even after this reduction is taken into account, our headcount grew almost 30 percent from last year.

This will not affect our ability to support the healthcare providers, patients, consumers, academic laboratories, patent licensees, insurers, and other partners that work with uBiome. It wasn’t an easy decision, but we believe that it is the right one for the future of uBiome as we continue to grow.

This financial realignment will support us in moving forward with additional laboratory tests, developing novel therapeutics and collaborations with pharma, establishing partnerships with retailers and other members of industry, and fostering new relationships with insurers. We have a lot of exciting work to do and need to put it on the best foundation organizationally. We will still be hiring in key areas as we move forward.

We are proud to have worked with some most innovative minds in the world, and we are so grateful for all of the hard work and passion that everyone has shared with us at uBiome. We have provided severance and counseling to those affected and have tried to be helpful in finding new positions.

While this reduction is ultimately a strategic and financial decision, these were all people that we cared about. It was very painful to see valued friends and colleagues go, but this was a necessary decision to continue supporting uBiome’s mission.

uBiome’s mission is to advance the science of the microbiome and make it useful for people, and we are excited to re-focus around achieving specific goals for 2019. Thank you for coming on this journey with us!

About uBiome
Founded in 2012, uBiome is the leader in microbial genomics. The Company’s mission is to advance the science of the microbiome and make it useful to people. uBiome combines its patented proprietary precision sequencing™ with machine learning and artificial intelligence to develop wellness products, clinical tests, and therapeutic targets. uBiome has filed for over 250 patents on its technology, which includes sample preparation, computational analysis, molecular techniques, as well as diagnostic and therapeutic applications. uBiome currently has seven issued patents in the United States and over 250,000 microbiome samples — the largest dataset in the world.
uBiome’s commercial products include SmartGut™, the world’s first sequencing-based clinical microbiome test, which identifies microbes in the gut for patients with chronic gut conditions such as IBD, IBS, Crohn’s Disease, and ulcerative colitis; SmartJane™, the first sequencing-based women’s health screening test, which genotypes all 19 clinically relevant strains of HPV, identifies four common STDs, and surveys more than 20 vaginal microbes associated with bacterial vaginosis and other conditions; SmartFlu™, the world’s first sequencing-based clinical respiratory test, which identifies more than 20 clinically relevant targets for viruses and bacteria associated with the flu and common cold; and Explorer™, a health and wellness product to understand the role that food and lifestyle can play in wellness.
uBiome’s platform has been used by hundreds of thousands of consumers, patients, and doctors and more than 200 research institutions around the world, including the US Centers for Disease Control (CDC), US National Institutes of Health (NIH), Harvard University, Stanford University, the Massachusetts Institute of Technology (MIT), University of California, San Francisco, Oxford University, and the University of Sydney.
Since its launch, the company has received widespread recognition including CNN 10: Startups to Watch, the IVY Technology Award, CNN Future 30, and was named one of Fast Company’s Most Innovative Companies in Healthcare in 2016 and in Data Science in 2018, as well as a Technology Pioneer from the World Economic Forum in 2018. For more information, visit www.uBiome.com.