De-Extinction Company Colossal Biosciences Announces $150M Series B Financing

January 31, 2023Client News

Gunderson Dettmer represented client Colossal Biosciences, a genetic engineering company, in the announcement of its $150 million Series B financing led by United States Innovative Technology Fund. Colossal uses innovated gene-editing technologies for species restoration and endangered species protection to repopulate critical ecosystems that support the continuation of life on Earth. The company’s fundraisings totals $225 million, and this latest round will be used for continued genetic engineering advancements and developing new software for de-extinction, conservation and human healthcare.

In the announcement of the transaction, co-founder and CEO of Colossal Ben Lamm said, “The World Wildlife Fund found that in the last 50 years, Earth’s wildlife populations have plunged by an average of 69% at the hands of mankind. By gathering the smartest minds across investing, genomics, conservation and synthetic biology, we have the opportunity to reverse human-inflicted biodiversity loss while developing technologies for both conservation and human healthcare. We are honored to be backed by a dedicated and diverse group of investors and are excited to work to bring additional species back to the planet.”

The Gunderson Dettmer deal team was led by John Tolpa and Jeff Higgins, and included Ryan Enchelmayer, Matthew Rietfors, Will Fogarty, and Anthony Farnesi.

Colossal Biosciences