Biotech Raises Are Breaking Records
Prince Khaled bin Alwaleed's biotech bet, Colossal Biosciences, has received a multibillion dollar valuation in a Series C round.
“Re-wilding” and “de-extinction” are two relatively new terms on the startup circuit, and yet both are receiving attention from significant investors in the United States.
The now-famous Colossal Biosciences, an American biotechnology company based in Dallas, Texas, says that with its advancements in clustered regularly interspaced short palindromic beats (CRISPR) and genetic engineering, a better ecosystem is achievable.
Colossal has activated the public imagination and generated sensational global headlines for its sci-fi sounding mission of bringing back animals that have long been extinct. The company’s website says that it endeavors “to jumpstart nature’s ancestral heartbeat…to see the woolly mammoth thunder upon the tundra once again,” before putting forward the more plausible goals of advancing “the economies of biology and nutrition.”
The newly announced fresh funding, a US$200 million Series C round at a valuation of $10.2 billion, is a significant jump from its last reported raise. A slew of famous investors took part in previous rounds, alongside influential institutions like In-Q-Tel, the non-profit investment arm of the US’ Central Intelligence Agency (CIA).
Regionally, Saudi Arabia’s Prince Khaled bin Alwaleed, founder and CEO of KBW Ventures, participated in Colossal’s previous round - a Series B raise two years earlier as confirmed by several social media posts on X and Instagram.
Via @business: "Biotechnology startup, @colossal, working to bring back animals from extinction has raised $200 million at a valuation of $10.2 billion, more than six times its valuation just two years ago." - A @kbw_vc portfolio company | #Biotechnology https://t.co/v1bwzIb6Zj
— خالد بن الوليد Khaled Alwaleed (@KhaledAlwaleed) January 16, 2025
As reported by Bloomberg, the Series C round is “more than six times its valuation just two years ago.” The company also said that its cash infusion was raised from a sole investor – TWG Global – and has brought the startup’s total funds raised to date to $435 million.
Co-founded by George Church and CEO Ben Lamm in 2021, the company’s lesser publicized vertical is the more realistic-sounding genome sequencing of animals that are endangered or in the crucial stage of pre-endangerment, helping to preserve biodiversity.
Church is notably a Harvard University geneticist, bringing significant sector experience, alongside a roster of well-credentialled scientific contacts, to the company’s ranks and investor list.
Prince Khaled, a Riyadh-based venture capitalist known for his diverse portfolio, had confirmed his health technology commitments and new investments in climate technology at various live event appearances in the recent past.
Image courtesy Colossal Biosciences.
