Coinbase CEO raises $40 million for his startup NewLimit, which aims to slow down the aging process.
Indeed, NewLimit is a biotech startup co-founded by the boss of US crypto exchange Coinbase and which aims to “cure aging”.
This Tuesday, Techcrunch reports that age-related disease treatment startup NewLimit has raised $40 million in a Series A round. The fundraising includes the participation of several major VCs, including Dimension, Kleiner Perkins and Founders Fund.
Co-founded in 2021 by Coinbase CEO and founder Brian Armstrong, NewLimit and its team of cell biology experts are developing “epigenetic reprogramming drugs“, according to its website.
The startup hopes to enable people to live healthier, longer lives by epigenetically reprogramming human cells.
Asked by Techcrunch about billionaires’ interest in startups in this sector, Armstrong said:
If you’ve made money in software, it’s good to reinvest in society in a way that can help improve the human condition, and biotech research is one of those really important areas […] I think there’s actually a generation of tech billionaires – Sam Altman, Patrick Collison and others – who are investing real capital in some of these difficult problems, and I think that should be celebrated,” he said.
