The Logan Bartlett Show• May 2, 2025• 1:25:39Interview

$10B Valuation for Colossal: Bringing Back the Dire Wolf and the Wooly Mammoth

From The Logan Bartlett Show

Ben Lamm•CEO, Colossal

Executive Summary

Colossal Biosciences is a de-extinction and species preservation company that has raised over $485 million to resurrect species like the woolly mammoth, dire wolf, and thylacine.
The company has achieved significant technological breakthroughs, including the ability to make over 50 simultaneous genetic edits in a single cell line and successfully cloning endangered red wolves.
Colossal employs a dual business model, monetizing through long-term ecosystem restoration projects funded by nature credits and ecotourism, while also spinning out valuable technologies for human healthcare and industrial applications.
The core process involves sequencing ancient DNA, using computational biology to identify key genes, editing the genome of a close living relative, and developing novel reproductive technologies like artificial wombs to bring the proxy species to term.

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Concerns Raised

Technical difficulty in achieving high-efficiency multiplex editing and DNA delivery
Challenges in developing novel reproductive technologies like artificial wombs and universal eggs
Navigating the complex and slow-moving FDA regulatory framework for gene-edited animals
Public perception and ethical concerns around 'playing God' and genetic engineering

Opportunities Identified

Spinning out valuable platform technologies for human healthcare and industrial applications
Monetizing large-scale rewilding projects through biodiversity and carbon credits
Creating a 'free R&D arm' for the underfunded conservation community
Becoming the global leader in advanced cloning, gene editing, and reproductive technologies

Key Themes

Technological Innovation as a Forcing Function

Colossal's ambitious de-extinction goals serve as an 'Apollo-esque' mission, forcing rapid innovation across the entire biotech stack. This includes advancements in multiplex gene editing, ancient DNA assembly, AI-driven computational biology, lab automation, and novel reproductive technologies like artificial wombs.

These foundational technologies, developed to solve extreme challenges, have significant commercial applications beyond de-extinction, particularly in human healthcare, conservation, and industrial biotech, creating a powerful engine for value creation.

The Business of De-Extinction and Conservation

The company is pioneering a new model for funding large-scale conservation. It combines near-term revenue from technology spin-outs with a long-term vision of generating recurring revenue from ecosystem restoration, funded by emerging markets for biodiversity credits, carbon credits, and enhanced ecotourism.

This model provides a commercially viable pathway to fund capital-intensive, long-horizon scientific projects that have traditionally relied on philanthropy or government grants, potentially unlocking massive private investment in conservation.

Bridging Ancient DNA with Modern Genomics

A core scientific challenge is translating fragmented ancient DNA into a living animal. The process involves sequencing dozens of ancient genomes, identifying the key genetic differences that confer extinct traits, and then precisely engineering the genome of a close living relative (e.g., editing an Asian elephant to express mammoth traits).

This work represents a new frontier in synthetic biology, demonstrating the ability to perform 'forced evolution' on a massive scale and providing a powerful toolkit for understanding genotype-to-phenotype relationships.

Navigating Ethical and Regulatory Frontiers

Operating at the edge of scientific possibility requires navigating complex ethical questions (e.g., 'playing God') and a shifting regulatory landscape, such as the FDA's historical view of gene-edited animals as drugs. Colossal addresses this through public engagement, open-sourcing conservation tech, and establishing clear internal ethical lines, such as not working on human or non-human primate species.

The company's approach is setting precedents for how the field of synthetic biology engages with society, which will be critical for gaining public acceptance and shaping future policy for genetic technologies.

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