The South San Francisco biotech plans to begin its first human trial of a liver cell-reprogramming therapy next year
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A $435 million Series C has pushed the anti-aging startup NewLimit's valuation to $3.1 billion — a figure that represents more than three times what the company was worth just twelve months ago, NewLimit announced. Founders Fund led the round, joined by new investors Thrive Capital, Greenoaks, and Quiet Capital, alongside returning backers including Kleiner Perkins, Eli Lilly $LLY Ventures, and Valor Equity Partners.
The South San Francisco company said it plans to launch its first human clinical trial next year, testing a liver cell-reprogramming therapy. NewLimit's approach uses epigenetic reprogramming — altering DNA markings that govern which genes a cell uses — to restore liver cells to a more youthful state. The company said its candidate has shown the ability to accelerate liver recovery from injury and improve tolerance of dietary and alcohol-related stress in preclinical models.
The accelerated timeline marks a sharp departure from earlier projections. When NewLimit raised a $130 million Series B in May 2025, executives said the first human trial might not occur until as late as 2030, according to The Wall Street Journal. NewLimit CEO and co-founder Jacob Kimmel said the discovery of a promising candidate late last year drove the change. "We started to get data that was far more compelling than we had ever expected at that point in time," Kimmel told Fierce Biotech.
The initial Phase 1 trial will focus on patients with fatty liver disease, with Phase 2 development targeting alcohol-related liver disease, according to Fierce Biotech. Kimmel described the liver as a central node in metabolism, noting that roughly half of adults over 60 develop metabolic syndrome — a cluster of conditions including obesity, diabetes, and kidney failure — and that liver age plays a meaningful role in that process.
Kimmel, a stem cell biologist who now serves as CEO and president, started the company in 2021 alongside Coinbase CEO Brian Armstrong and Blake Byers, a bioengineer who previously served as a partner at GV. Tuesday's announcement marks the third fundraise within roughly a twelve-month span, following a $130 million Series B closed in May 2025 and a $45 million follow-on investment that came through in October.
Beyond the liver program, the company said it is developing cell-reprogramming therapies targeting endothelial cells in blood vessels — with a focus on chronic kidney disease — and T cells, where it sees potential applications in autoimmune conditions such as rheumatoid arthritis.
The company sits within a longevity field that has become a favored destination for tech-world wealth, with Retro Biosciences drawing $180 million from OpenAI CEO Sam Altman and Altos Labs launching in 2022 with $3 billion that has been reportedly linked to Amazon $AMZN founder Jeff Bezos. At $3.1 billion, NewLimit's valuation now tops the $1.8 billion figure Retro Biosciences reported last month, according to The Wall Street Journal.
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