Colossal seeks funding at a $20–30 billion valuation

Colossal seeks funding at a $20–30 billion valuation

On July 20, Axios reported that Colossal Biosciences is in talks to raise new funding at a $20–30 billion valuation. In January 2025, the company raised $200 million at a $10.2 billion valuation. Axios reports that it began generating revenue over the past year.

Colossal is known for its programs to revive the woolly mammoth, the dodo, and the dire wolf. At the same time, the company is developing biobanks, genetic medicine programs, and reproductive technologies. These lines of work grew out of research on extinct animal genomes, but they now have their own customers and products.

Axios reports that Colossal is building repositories of genetic material from endangered species in partnership with the U.S. government and Dubai's Museum of the Future. In June, a memorandum with the U.S. Fish and Wildlife Service on a cryobank for tissues, cells, and genomes gave this work a concrete structure. This is a conservation service that can be developed alongside the company's long-term de-extinction programs.

Colossal also has a biomedical line of business. Form Bio, which was spun out of the company, helps teams developing genetic medicines select gene therapy constructs and analyze manufacturing data. TechCrunch also names Breaking and Astromech as companies that emerged from Colossal. In this way, research on animal DNA is becoming drug development tools and services for government conservation programs.

In the author's model, the $20–30 billion range applies to a company in which de-extinction remains the most visible project, while biobanks, genetic medicine services, and spun-out companies are already operating alongside it. The funding talks value this entire set of technologies, not only the promise of one day reviving an extinct animal.