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Does Colossal Biosciences’ dire wolf creation justify its $10B+ valuation?
On Monday, the “de-extinction” startup Colossal Biosciences announced its most ambitious results to date: the dire wolf. These are creatures that have
When Colossal Biosciences announced its latest fundraise at a$10.2 billion valuation earlier this year, the company’s co-founder and CEO Ben Lamm told TechCrunch he believed the startup was undervalued given its actual scientific progress. Given the common startup tendency to overstate capabilities, it wasn’t easy to take Lamm’s claims at face value, particularly since Collosal’s ambitious de-extinction projects for the woolly mammoth and Tasmanian Tiger were not slated for completion until 2028. Dire Wolves represented the ideal confluence of factors for a cash-rich startup that claims to be ethically conscious and has many entertainment-savvy investors on its cap table.
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