Colossal Biosciences is in talks to raise new capital at a valuation between $20 billion and $30 billion, according to a report by Axios cited by TechCrunch. The Dallas-based de-extinction company, co-founded and led by CEO Ben Lamm, did not respond to a request for comment. Neither the round's lead investor nor the target raise amount has been disclosed.

The reported valuation range would represent a doubling to tripling of Colossal's January 2025 Series C valuation of $10.2 billion. That $200 million round was led by TWG Global and brought total funding at the time to $435 million since the company's September 2021 launch with a $15 million seed. In September 2025, Colossal raised an additional $120 million, pushing total capital to $555 million and its valuation to $10.3 billion, per the company's own announcement. The UAE separately invested $60 million, according to Wired as cited by TechCrunch.

Colossal is approximately five years old. Its trajectory from a $15 million seed to a potential $20–30 billion valuation in that window places it among the fastest-climbing biotech valuations on record, though the talks are not yet finalized.

Axios reported that Colossal has started generating revenue over the last year. The company has spun out three startups: Breaking (plastics breakdown), Form Bio (computational biology platform, which secured $30 million in funding), and Astromech (AI-driven predictive modeling for biology and life sciences), the latter valued at $2 billion as of March 2026 per D Magazine. Colossal also plans to spin off its artificial animal womb technology, which Lamm told Rolling Stone in May is expected to be ready next year and could have applications for human fertility treatment.

Colossal has offered its conservation technology to the U.S. government and the UAE. It may eventually generate revenue through the sale of biodiversity credits if it reintroduces extinct animals such as the woolly mammoth and dodo bird to their native habitats.

The science portfolio has expanded considerably since launch. Colossal added the dodo bird to its de-extinction targets in January 2023, when the company was valued at over $1 billion per Bloomberg. In April 2025, the company announced a breakthrough in resurrecting the dire wolf, Bloomberg reported. A de-extinct male animal produced by Colossal was born on October 1, 2024, and was featured in Reuters' "Pictures of the Day" on April 9, 2025, when the animal was five months old. The company aims to produce a woolly mammoth by 2028.

Looking at the broader picture, a $20–30 billion valuation for a pre-commercial de-extinction company is the kind of number that invites scrutiny. The revenue detail from Axios matters here: Colossal is not yet monetizing resurrected species or biodiversity credits, and the 2028 mammoth target remains years out. What it does have is a portfolio of spinouts that are themselves attracting capital, an artificial womb platform nearing readiness, and sovereign interest from the UAE. The valuation, in that light, appears to be pricing a platform company rather than a single-product bet.

Worth flagging is how unusual it is for a company this young, in a field with no clear precedent for commercial success, to command a figure in this range. The comparison that comes to mind is not another biotech but the AI companies that achieved steep valuations on the strength of platform potential and IP rather than proven revenue. Colossal is making a similar argument: that its de-extinction work generates spinoff technologies, each individually fundable, while the headline mission remains intact. Whether investors at $20–30 billion are buying that thesis or merely the scarcity of the opportunity is a question the round's eventual lead and terms may clarify.

For now, the talks are precisely that. No lead investor, no check size, no close date. What is clear is that Colossal has moved from a speculative moonshot to a company that sovereign wealth, venture capital, and strategic buyers are all engaging with on financial terms that would have been inconceivable at its 2021 seed round.