Biotechnology startup Colossal Biosciences is reportedly negotiating a new funding round that could value the company between 20 billion and 30 billion dollars.

The fundraising effort comes just over a year after the company attracted global attention for its ambitious project to revive extinct species using advanced genetic technology.

Founded five years ago, Colossal has expanded beyond de extinction research by developing technologies with applications in conservation, computational biology, and environmental sustainability.

The company has also begun generating revenue through partnerships and commercial projects. Several businesses have emerged from Colossal’s research activities, including companies focused on plastic recycling, biological data analysis, and artificial intelligence driven life sciences.

The company continues to broaden the commercial use of its scientific discoveries while investing in wildlife conservation initiatives.
Colossal recently added the bluebuck antelope to its list of target species and partnered with researchers in Australia to support efforts aimed at protecting Tasmanian devils from a contagious disease.

The company also plans to commercialize artificial animal womb technology, which may eventually have applications in human fertility treatment.
If successful in restoring extinct animals such as the woolly mammoth and the dodo, the company hopes to generate future income through biodiversity credits. Colossal has not officially commented on reports surrounding its latest fundraising plans.

Source: TechCrunch