Why Did the Dodo Cross the Road?

Colossal Biosciences has held an oversubscribed $150 million Series B financing led by United States Innovative Technology Fund (USIT).

Colossal is the world’s first “de-extinction” company and is the first to apply CRISPR technology for the purposes of species de-extinction. The company utilizes genetic engineering techniques and new software, wetware and hardware to advance efforts for de-extinction, conservation and human healthcare. CRISPR (Clustered Regularly Interspaced Short Palindromic Repeats) is a new technology in the field of genetics and biotechnology. It allows for precise and efficient editing of DNA, the molecule that carries the genetic information of all living organisms.

Colossal was founded in September 2021 by software entrepreneur Ben Lamm and geneticist and serial biotech entrepreneur George Church, Ph.D. With the close of this new financing, Colossal has now raised $225 million in total funding.

“Dr. George Church and Colossal’s deep work in genomics is creating some of the most cutting-edge advancements in biotech,” said Thomas Tull, the chairman of USIT. “Their innovative technology has important applications for scientific discoveries, including biomedicine, and we look forward to supporting this crucial work.”

As part of its Series B, Colossal has also launched the Avian Genomics Group to pursue the de-extinction of the Dodo, a flightless bird that lived on the Indian Ocean island of Mauritius. The Dodo, a large, plump bird that stood about 3 feet tall and weighed around 40 pounds, was first discovered by Dutch sailors in the late 16th century and quickly became a popular source of food for them and their animals. The last recorded sighting of a Dodo bird was in 1681, and it is now considered to be extinct.

“The Dodo is a prime example of a species that became extinct because we – people – made it impossible for them to survive in their native habitat,” said Dr. Beth Shapiro, a scientific advisory board member and a lead paleogeneticis at Colossal. “Having focused on genetic advancements in ancient DNA for my entire career and as the first to fully sequence the Dodo’s genome, I am thrilled to collaborate with Colossal and the people of Mauritius on the de-extinction and eventual re-wilding of the Dodo. I particularly look forward to furthering genetic rescue tools focused on birds and avian conservation.”

The Series B funding and launch of the Avian Genomics Group come less than a year and a half after Colossal announced plans to de-extinct the Woolly Mammoth and the Tasmanian tiger.

“Colossal is a new symbol for hope in species preservation and conservation,” said Colossal investor and special advisor, Erik Anderson, Founder and CEO of WestRiver Group. “Their de-extinction achievements are making it possible for ecosystems to return to their intended state, which is an incredible breakthrough in biodiversity. I’m excited to be advising Ben Lamm and investing in a company that is positioning our planet for a brighter future.”

Other firms participating in the Series B raise were Breyer Capital, WestRiver Group, Bob Nelsen, Animal Capital, Victor Vescovo, In-Q-Tel, Animoca Brands, Peak 6, BOLD Capital, and Jazz Ventures.

Colossal Biosciences is headquartered in Austin, Texas.

© 2023 Venture Capital Investor | February 9, 2023