Colossal Biosciences in talks to raise capital at $20B–$30B valuation

Colossal Biosciences, a biotechnology company focused on resurrecting extinct species, is reportedly seeking to raise new capital at a valuation between $20 billion and $30 billion, according to a recent report. The company, known for its ambitious projects to bring back the woolly mammoth and other long-gone animals, aims to double or triple its previous valuation from its last funding round.

If successful, the new funding would significantly boost Colossal's financial resources, allowing it to accelerate its research and development efforts. The company's work has attracted attention from investors and scientists alike, as it pushes the boundaries of genetic engineering and conservation biology. However, the reported valuation has raised eyebrows, given that Colossal has yet to produce a living de-extinct animal.

The report did not specify the amount of capital Colossal is seeking, but the valuation range suggests a major fundraising effort. The company's previous valuation was around $10 billion, following earlier investments from prominent venture capital firms and tech entrepreneurs. Colossal has stated that its technology could also have applications in human health and agriculture, which may justify the high valuation.

Colossal's de-extinction efforts involve editing the genomes of closely related living species to recreate extinct ones. For example, the company is working on modifying Asian elephant cells to produce a woolly mammoth-like creature. Critics question the feasibility and ethical implications of such projects, while supporters see them as a way to restore lost biodiversity and combat climate change.

The next steps for Colossal will likely involve finalizing the terms of the new investment round and continuing its research milestones. The company has previously set a goal of producing its first woolly mammoth calves by 2028. The new capital could help it meet that timeline, though technical challenges remain significant.