Colossal Biosciences Aims to Revive Extinct Species with $200 Million Raise

Colossal Biosciences Inc., a biotechnology startup, has secured $200 million in funding, significantly increasing its valuation to $10.2 billion—six times more than its valuation two years prior. The startup, co-founded by Ben Lamm, intends to use DNA and genomics technology to bring back extinct species such as the dodo, the Tasmanian tiger, and the woolly mammoth. Their ambitious project aims to achieve a breakthrough with the birth of a woolly mammoth calf by 2028, using an elephant as a surrogate mother. This funding round exemplifies the growing interest and investment in innovative biotech ventures, despite the inherently speculative and groundbreaking nature of Colossal's goals.