$10 Billion Startup That Cloned Tom Brady’s Dog Grows Legal Team

Colossal Biosciences Inc., a biotechnology company looking to resurrect extinct species like the dire wolf and woolly mammoth, hired a former public company general counsel ahead of closing its first acquisition this month.

Albert Li, a former top lawyer at baby monitoring device maker Owlet Inc., joined Colossal in September, around the same time that the Dallas-based startup secured additional financing to boost its valuation to more than $10.3 billion. A spokeswoman confirmed Li’s hire and said as Colossal expands he’ll work alongside its chief global strategy and legal officer Brian Beard, a former Big Law partner who helped co-found the company in 2021.

Colossal announced last week its purchase of animal cloning outfit Viagen Pets and Equine. The deal was unveiled at the same time that former NFL star and company investor Tom Brady revealed that he used Colossal to create his dog, Junie, a genetic clone of Lua, a pit bull mix he owned who died in 2023.

Brady is one of a few notable names behind Colossal, whose other investors include Paris Hilton and Academy Award-winning director Peter Jackson. The company’s CEO Ben Lamm recently spoke at a conference with Bloomberg News about Colossal’s plans to bring back other defunct species like the flightless dodo bird, Tasmanian tiger, and functionally extinct northern white rhino.

While such science may have once only seemed possible in science fiction films like “Jurassic Park,” Colossal and Lamm have said advances in genomics and DNA technology will help the company preserve endangered species and restore biodiversity, efforts that have drawn scrutiny from some critics and ethicists.

Viagen, which was advised by Winstead partner Justin Hoover on its sale to Colossal, is one of the world’s leading cloners of cats, dogs, and horses, and charges clients between $50,000 to $85,000 per animal, according to its website.

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian partner John Tolpa represented Colossal on its acquisition of Viagen, the company said. Gunderson Dettmer, a law firm known for its startup client expertise, previously counseled Colossal on its fundraising work. Indianapolis-based Ice Miller has also handled such matters for Colossal, as well as other areas like litigation.

Colossal spokeswoman Emily Lowe Mailaender said the company doesn’t have any immediate plans for an initial public offering. She said Colossal employs three in-house lawyers and is looking to hire a corporate paralegal in Dallas. Beard, its legal chief, is a former partner at Gunderson Dettmer and Wilson Sonsini Goodrich & Rosati. Deputy general counsel Yousef Mian has worked at Foley Hoag and Paul Hastings. The newly hired Li is a former DLA Piper partner.

Prior to Colossal, Li was also a general counsel and compliance officer for the North American operations of Ottobock SE & Co., a German orthopedics giant that went public last month. Li joined Owlet in 2022, shortly after it went public by merging with a special purpose acquisition company. He left Owlet last year.