+87%

est. 2Y upside i

HealthcareSeries A

Until (fka Cradle) is a moonshot company building a “pause button” for biology. Our near-term focus is organ-scale reversible cryopreservation: preserving donated organs at subzero temperatures without ice formation, then rewarming them uniformly for transplant. By solving this grand challenge, we’re laying the foundation for whole-body reversible cryopreservation, giving patients a bridge to future cures.

Rank

#523

Sector

Biotechnology, Organ Preservation

Est. Liquidity

~5Y

Data Quality

Data: Low

Equity in Until Labs carries very high risk due to pre-revenue status, severe preference overhang, and long timeline to liquidity.

Last updated: July 19, 2026

Bull (15%)+380%

Successful large animal cryopreservation breakthrough by 2027 leads to acquisition by major medtech or partnership, driving 5x return on entry valuation. Strong moat and low incumbent threat support high multiple.

Base (50%)+130%

Steady preclinical progress with Series B funding at higher valuation, but no immediate revenue. Entry valuation grows 2.5x as pipeline advances, diluted by 20% from future rounds.

Bear (35%)-100%

Technical failure or regulatory setback kills program; common stock worthless. Preference stack of $106M over $250M entry leaves zero for common in liquidation.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

4240%

Total funding $106M vs. assumed entry valuation $250M = 42% liquidation preference overhang; common stock at high risk in downside.

Dilution Risk

high

Pre-revenue, capital-intensive biotech likely requires Series B within 2 years; 20% dilution assumed from future rounds.

Secondary Liquidity

none

No secondary market activity reported; employees cannot sell shares until an exit event.

Organ Preservation — 3 roles

General — 2 roles

Software and ML — 2 roles

View all 28 open roles at Until →

Last updated: March 10, 2026

Questions to Ask at the Interview

Strategic questions based on Until's data — designed to show you've done your homework.

  • 1

    “What is the company's specific timeline to achieve reversible cryopreservation of a large animal organ, and what are the key technical milestones?”

  • 2

    “How do you plan to navigate FDA regulatory hurdles and what is the expected pathway to clinical trials?”

  • 3

    “Given the early stage, what is the expected dilution for employee equity across future funding rounds, and what is the secondary liquidity outlook?”

Community

Valuation Sentiment

Our model estimates +87% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.