Biotech
Musk's biotech company Neuralink raises $650m
Elon Musk’s biotechnology company Neuralink has raised US$650 million in funding, as the race to produce brain interface technology heats up. The company, which specialises in brain implants that control external devices, was reportedly valued at US$9 billion before the new funding. The Series E funding round included investors like ARK Invest, Sequoia Capital, and Valor Equity Partners. “This funding helps us bring our technology to more people — restoring independence for those with unmet medical needs and pushing the boundaries of what’s possible with brain interfaces,” Neuralink wrote. Neuralink said that it had implanted its technology into five people with severe paralysis, to allow them to control devices with their thoughts. It has also begun clinical trials in the United States, Canada, and the United Arab Emirates. Its brain-computer interface implant records brain activity through 1,024 electrodes, before transferring the data to external digital devices using Neuralink’s software. Competitor company Paradromics said yesterday that it had implanted a similar chip into a human patient for the first time, and aims to start clinical trials later in 2025. Paradromics’ Connexus Brain-Computer Interface is awai
DNA test firm 23andMe files for bankruptcy, seeks sale
Genetic testing company 23andMe has filed for bankruptcy protection, after reporting significant financial losses in recent years. The company is seeking authorisation to be sold under a chapter 11 bankruptcy plan. Its CEO, Anne Wojcicki, is stepping down from her role to pursue a bid to acquire 23andMe. “After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximise the value of the business,” said 23andMe chair Mark Jensen. “We expect the court-supervised process will advance our efforts to address the operational and financial challenges we face, including further cost reductions and the resolution of legal and leasehold liabilities.” “In addition, we are committed to continuing to safeguard customer data and being transparent about the management of user data going forward, and data privacy will be an important consideration in any potential transaction.” 23andMe said it plans to continue operating during the sale process, having secured US$35 million in funding from JMB Capital Partners to do so. California Attorney General Rob Bonta recommended last week that the state’s residents ask the company to delete or destroy their g
US$10bn plan to resurrect woolly mammoths, dodos
Colossal Biosciences, a biotechnology company, has raised $200 million in funding to bring back extinct species like the woolly mammoth, thylacine, and dodo. In a Series C round of funding led by Mark Walters' TWG Global, Colossal raised $200 million at a post-money valuation of US$10.2 billion. Founded by entrepreneur Ben Lamm and Harvard geneticist George Church, Colossal aims to use advanced gene-editing techniques, particularly CRISPR technology, to revive these long-lost species. “Our recent successes in creating the technologies necessary for our end-to-end de-extinction toolkit have been met with enthusiasm by the investor community. TWG Global and our other partners have been bullish in their desire to help us scale as quickly and efficiently as possible,” said CEO and co-founder Lamm. “This funding will grow our team, support new technology development, expand our de-extinction species list, while continuing to allow us to carry forth our mission to make extinction a thing of the past.” The company plans to create hybrid embryos by inserting modified genes from ancient DNA samples into cells of closely related species, such as Asian elephants and the woolly mammoth. Colossal's de-extinction efforts aim to