Coinbase CEO Brian Armstrong’s Newlimit Raises $435 Million, Tripling Valuation to $3.1 Billion

Crypto Wealth Flows Into Longevity Science

Newlimit, the anti-aging biotech co-founded by Coinbase Global Inc. (Nasdaq: COIN) Chief Executive Brian Armstrong, has closed a $435 cardinal Series C backing round, the institution announced connected June 2. The rise was led by Founders Fund and astir tripled Newlimit’s post-money valuation to about $3.1 billion, up from a people that sat beneath $1 cardinal astatine its erstwhile round.

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The financing drew a roster of high-profile backers, including caller investors similar Thrive Capital, Greenoaks, and Quiet Capital. Returning supporters included Kleiner Perkins, Abstract, and Valor Equity Partners, each of whom added to their existing stakes.

Founded successful 2021 by Armstrong, erstwhile GV spouse and bioengineer Blake Byers, and stem compartment biologist Mark Kimmel, Newlimit is built connected a azygous thesis, i.e. aging is “plastic,” oregon reversible, astatine the cellular level. The institution develops medicines designed to reconstruct youthful relation to aged cells done epigenetic reprogramming, a method that aims to reset however genes are expressed without altering the underlying DNA.

From a Side Project to a $3 Billion Bet

Newlimit has grown rapidly and the numbers spell that rather clearly. The startup raised $130 cardinal arsenic precocious arsenic past year, meaning the caller circular much than triples its valuation successful astir 12 months. The institution has said the accelerated timeline was driven by a prototype medicine breakthrough that reverses compartment property successful aged quality liver cells, giving the squad assurance to propulsion toward the clinic.

That advancement sets up the company’s astir important milestone yet, arsenic Newlimit said it plans to bring its archetypal aging-reprogramming medicine into human objective trials adjacent year, a measurement that volition determination the steadfast from laboratory probe into regulated cause development.

Moreover, epigenetic reprogramming, the subject underpinning Newlimit, has go 1 of the astir intimately watched and heavy funded areas of biotechnology. The attack builds connected Nobel-winning probe showing that mature cells tin beryllium coaxed backmost toward a younger state, and a question of startups has raced to crook that penetration into therapies. Newlimit’s latest rise places it among the best-capitalized names successful the field.

Armstrong’s Expanding Footprint

For Armstrong, the circular highlights a portfolio that present stretches good beyond Coinbase. He has utilized his crypto luck to backmost ambitious subject and infrastructure projects, framing longevity arsenic 1 of the defining technological challenges of the era. Bitcoin.com News has reported connected Armstrong’s moving commentary astir modernizing concern and the broader onchain economy, and his biotech stake runs connected a parallel way of long-horizon, high-risk investing.

The Founders Fund-led circular besides reflects renewed capitalist appetite for moonshot biotech astatine a clip erstwhile crypto markets person been wobbling. Backers are betting that breakthroughs successful cellular reprogramming could yet nutrient treatments for age-related disease, a marketplace measured successful the trillions if the subject delivers.

The adjacent trial is the session and Newlimit’s determination into quality trials adjacent twelvemonth volition beryllium the archetypal real-world work connected whether its laboratory results construe into safe, effectual medicines.