-46%

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

#316

Sector

Biotechnology

Est. Liquidity

~6Y

Data Quality

Data: Medium

Until Labs presents a strong upside opportunity driven by its pioneering technology in reversible organ cryopreservation, addressing a massive unmet medical need.

Last updated: March 10, 2026

Bull (25%)+400%

Until Labs successfully navigates clinical trials and gains FDA approval for initial organ types, demonstrating significantly extended viability for donor organs. This breakthrough technology unlocks a new, expanded market for transplantation, driving substantial early revenue and justifying a $1.5B+ valuation by 2028.

Base (50%)+100%

Until Labs makes steady progress in R&D and early-stage clinical development, securing additional funding rounds. While initial market penetration is slower than anticipated due to regulatory timelines and adoption challenges, the technology proves viable for specific high-value use cases, leading to a $750M valuation by 2028.

Bear (25%)-80%

The complex scientific and regulatory hurdles prove more challenging than anticipated, leading to significant delays or failure in clinical trials. Existing organ preservation technologies improve, reducing the urgency for Until's solution, resulting in a down round or limited market traction, and a valuation decline to $75M or less, severely impacting common stock value.

Est. time to liquidity~6.0 years

Preference Stack Risk

high

Investors hold $106M in liquidation preferences. In an exit at the estimated $375M valuation, common shareholders would effectively participate in $269M of value after preferences are paid.

Dilution Risk

high

As a Series A, pre-clinical company with very high capital intensity, Until Labs will likely require multiple significant funding rounds, leading to substantial future dilution for common shareholders.

Secondary Liquidity

none

As an early-stage, privately held company, there is currently no active secondary market or tender offers for employee equity.

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

    “Given the high regulatory barriers in biotechnology, what are the key milestones and timelines for FDA approval of your initial organ cryopreservation product, and how are you mitigating potential delays?”

  • 2

    “Until Labs aims to revolutionize organ transplantation. What are the most critical technical and commercial challenges you foresee in scaling your perfusion hardware, cryoprotective agents, and rewarming infrastructure for widespread adoption in healthcare institutions?”

  • 3

    “With a significant Series A round and very high capital intensity, how does Until Labs plan to manage future dilution for early employees, and what is the anticipated timeline for a liquidity event such as an IPO or acquisition?”

Community

Valuation Sentiment

Our model estimates -46% 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.