Equillium Announces Leadership and Corporate Updates

LA JOLLA, Calif., Oct. 06, 2025 (GLOBE NEWSWIRE) -- Equillium, Inc. (Nasdaq: EQ), a clinical-stage biotechnology company leveraging a deep understanding of immunobiology to develop novel therapeutics to treat severe autoimmune and inflammatory disorders, today announced changes to its Board of Directors (BoD) and senior leadership, and other corporate updates.

“The updates we announced today mark an important and timely step as we sharpen our therapeutic pipeline focus on advancing EQ504, our novel aryl hydrocarbon receptor (AhR) modulator, into the clinic to treat severe inflammatory diseases,” said Bruce Steel, Chief Executive Officer at Equillium. “These changes are intended to strengthen our ability to execute with enhanced capital efficiency to bring meaningful new therapies to patients in need. We are very pleased to promote Dr. Stephen Connelly to President, as his scientific and organizational leadership will continue to impact our success into the future. We would also like to sincerely thank Dr. Bala Manian for his service to the company since its inception; his thoughtfulness and insights were always constructive and welcomed by the Board.”

Recent Corporate Updates:

Changes to Corporate Governance Effective October 1, 2025

• Stephen Connelly, Ph.D. has been promoted to President, in addition to his current role as Chief Scientific Officer, of the Company.
• Stephen Connelly, Ph.D. and Bala Manian, Ph.D. tendered their resignations from the BoD; such resignations were not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
• Daniel M. Bradbury transitioned from Executive Chairman of the Company to Chairman of the BoD.
• Bruce Steel remains the Company’s Chief Executive Officer and a member of the BoD.

Termination of Biocon Agreement

• As previously announced, Equillium had no further intention to continue development of itolizumab, therefore on September 30, 2025, Biocon and Equillium entered into an agreement to terminate their collaboration and license agreement and other agreements relating to itolizumab.
  

About EQ504
EQ504 is an investigational potent and selective aryl hydrocarbon receptor (AhR) modulator designed with a multi-modal, non-immunosuppressive mechanism of action to be complementary to other inflammation and immunology agents. AhR is critical to barrier organ tissue physiology and immunology, maintaining barrier function and promoting tissue repair and regeneration, while regulating resident immune cells with anti-inflammatory responses. EQ504’s preclinical properties provide the potential for targeted, local delivery via enteric coating for the treatment of ulcerative colitis and pouchitis or inhaled formulations for the treatment of inflammatory lung diseases.