Mentioned:
LLY +0.65% COIN -7.09%
Eli Lilly is making a bet on something new: longevity drugs.
What’s happening:
- Eli Lilly (NYSE: LLY) has made a strategic investment of $45M USD into longevity startup NewLimit
By the numbers:
- The new funding round gives NewLimit a post-money valuation of roughly $1.6B USD
Why it matters:
- NewLimit is one of the most advanced private companies developing longevity therapeutics in North America and is co-founded by Coinbase (NASDAQ: COIN) founder Brian Armstrong, Blake Byers and Jacob Kimmel
Going deeper:
- NewLimit is developing multiple new drug compounds that leverage mRNA and reprogramming technologies to treat metabolic diseases, aging and alcohol related liver diseases
- NewLimit previously raised a Series B financing round of $130M USD which included notable participation from Kleiner Perkins, Founders Fund and Dimension Capital
