Thursday, January 16, 2025

$10B 'De-extinction' Startup, a $13,187 Water Bill, and Southwest Sued

Colossal Biosciences, a Dallas-based genetic engineering startup founded in 2021, has reached a $10 billion valuation after receiving $435 million in funding from financier Mark Walter, adventurer Victor Vescovo, and Lord of the Rings director Peter Jackson.

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The Roundup

Article Icon 1Brazoria County Deputy Killed in Line of Duty

Deputy Jesus Vargas of the Brazoria County Sheriff's Office was shot and killed while serving a warrant in southwest Houston yesterday. The suspect, Sean Christopher Davis, was killed hours later in a shootout with police near the crime scene.

Wanted for aggravated sexual assault, Davis, 56, allegedly shot Vargas during a traffic stop and fled the scene. After an hours-long manhunt, Davis was found in a dumpster at the site of the shooting by a K-9 working with the U.S. Marshals.

Davis opened fire from inside the dumpster, striking the dog at least twice, prompting deputies to return fire and kill him. The dog was rushed to an area vet via helicopter and is reportedly in stable condition.

Vargas was a 17-year veteran of the sheriff's office and leaves behind a wife and three children.

"He was more than a team member—he was a friend, mentor, and inspiration to everyone who knew him. His professionalism and kind nature left a lasting impact on our office and the residents he served," said the Brazoria County Sheriff's Office in a statement.

Article Icon 1Study on Massive Reservoir Submitted to Abbott

The Texas Water Development Board submitted a report to Gov. Greg Abbott earlier this month, deeming the proposed Marvin Nichols Reservoir in northeast Texas feasible and suggesting it could be completed by 2050.

The 66,000-acre reservoir has long been proposed as a source of water for Region C, which includes the fast-growing Dallas-Fort Worth area. However, it has faced decades of opposition from residents and officials in Region D, where the reservoir would be built.

The project's estimated cost has ballooned to more than $7 billion in recent years. It would require extensive state and federal permitting processes that could take 15 to 20 years.

Public comments on the feasibility review, mostly from residents in northeast Texas, overwhelmingly opposed the reservoir. Key concerns cited were the potential displacement of generational landowners and the use of eminent domain.

A decision on the reservoir won't happen anytime soon. Each of the state's sixteen regional planning groups will submit a proposal to state planners by March 3. Revised plans incorporating public comments and the water board's feedback will be submitted by Oct. 20.

Article Icon 1Dallas "De-extinction" Startup Valued at $10 Billion

Colossal Biosciences, a Dallas-based genetic engineering startup founded in 2021, has reached a $10 billion valuation after receiving $435 million in funding from financier Mark Walter, adventurer Victor Vescovo, and Lord of the Rings director Peter Jackson.

The company focuses on "de-extinction" projects, aiming to resurrect species such as the woolly mammoth, dodo bird, and Tasmanian tiger through advanced genetic editing.

With 170 scientists and partners on staff across three labs in Dallas, Boston, and Melbourne, Colossal has developed genomes for each of these species and hatched "chimeric chicks" to serve as surrogates for dodos.

"The technological advances we're seeing in genetic engineering and synthetic biology are rapidly transforming our understanding of what's possible in species restoration," Chief Science Officer Beth Shapiro said.

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The Flyover

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Around Texas

➤ McKinney: The city council's planning and zoning commission approved plans Tuesday to expand McKinney National Airport to accommodate commercial flights. The 45,000-square-foot passenger terminal with up to five gates is projected to cost more than $70 million. (See Rendering)

➤ Odessa: Residents and city officials are questioning why water bills have been inconsistent and inordinately high—as much as $13,187 for 187,000 gallons—in recent years. A city councilman who's been affected himself blamed the recurring issue on outdated systems, staff shortages, and technical issues. (More)

➤ McClennan County: A multi-vehicle crash involving three 18-wheelers on northbound I-35 early Wednesday shut down all lanes for several hours. One truck caught fire, and a 39-year-old woman was killed, with six others hospitalized. (See Photo)

➤ Houston: Five former Houston Housing Authority employees have been accused of racking up over $100,000 in personal expenses on upscale dinners, massages, workplace parties, and exercise equipment, according to an investigation by a local news outlet. (More)

➤ Bastrop: Mayor Lyle Nelson resigned Tuesday ahead of a city council meeting during which members had planned to discuss a recall election to remove Nelson from office over allegations that he had misused public funds. (More)

➤ San Antonio: Nearly $1,600 in cash was stolen from a woman hospitalized for smoke inhalation after her Corpus Christi home was destroyed in a fire. Thieves also took credit cards, IDs, and a passport. (See Details)

➤ Austin: A $23.76 billion surplus from the current budget cycle is available for legislators to spend during the session. Lt. Gov. Dan Patrick announced Monday he wants to put the money toward property tax cuts and raising teacher salaries, while House Democratic Caucus Chair Gene Wu said he wants to increase funding for public schools and healthcare. (More)

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Texas Sports

Texas Longhorns quarterback Quinn Ewers announced Wednesday he is entering this year's NFL Draft, clearing the way for Arch Manning to be the team's starter next year. Over three years with the Longhorns, Ewers had 27 wins, threw for 9,128 yards, and notched 68 touchdowns. (More)

Former Dallas Cowboys quarterback and Hall of Famer Troy Aikman said the team's head coaching vacancy is not a "coveted job." He explained that "most football people that take over as a head coach, they want to do it on their terms, and that's hard to do" with Jerry Jones as the general manager. (More)

The Texas Rangers announced that their games will be broadcast on the Victory+ streaming service this season, joining the Dallas Stars, whose games local fans can already watch for free. A season pass to watch the Rangers will cost $100. (More)

Yesterday's Results: NBA | NHL | NCAAM | NCAAW | Soccer | Tennis

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The Business Of Texas
Plano-based Aligned Data Centers has raised more than $12 billion in funding to accelerate the development of more than 5 gigawatts of AI and cloud computing capacity. (More)

The U.S. Department of Transportation sued Dallas-based Southwest Airlines on Wednesday for operating two flights—one between Chicago and Oakland and another between Baltimore and Cleveland—that were delayed 180 times during a five-month period in 2022. The airline said the chronic delays from more than two years ago are not representative of their overall record. (More)

Tellus Group, a real estate developer based in Prosper, purchased 970 acres in Anna to build a $1.5 billion master-planned community with 3,000 homes. Construction is expected to begin this summer and finish in early 2027. (More)

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Et Cetera

Parents with students at Herrera Elementary School in Houston are questioning the legitimacy of a $1-per-minute late pickup fee being imposed by administrators. (See Details)

Stephen El Gidi—a former Olympic swimmer turned baker whose cheesecake won a Big Tex Choice Award at the Texas State Fair in 2023—is opening Drizzle Cheesecakes in Las Colinas on Saturday. (See Photo)

The Southlake Police Department made a parody video of the South Korean game show Squid Game to show drivers how to navigate a roundabout. (See Video)

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The Polling Station

How do you feel about roundabouts?

  1. I'm a fan
  2. Don't like them
  3. Hate them
  4. No opinion

Yesterday's Results:

Have you ever visited Guadalupe Mountains National Park?

  1. Yes: 30%
  2. No: 70%
Texas Trivia

Where in Texas can you drive on a road made out of gold?

Show me the answer

Disclaimers for Mode Mobile: 1 Mode Mobile recently received their ticker reservation with Nasdaq ($MODE), indicating an intent to IPO in the next 24 months. An intent to IPO is no guarantee that an actual IPO will occur. 2 The rankings are based on submitted applications and public company database research, with winners selected based on their fiscal-year revenue growth percentage over a three-year period. 3 A minimum investment of $1,950 is required to receive bonus shares. 100% bonus shares are offered on investments of $9,950+. Past performance is no guarantee of future results. Start-up investments are speculative and involve a high degree of risk. Those investors who cannot afford to lose their entire investment should not invest in start-ups. Companies seeking startup investment tend to be in earlier stages of development and their business model, products and services may not yet be fully developed, operational or tested in the public marketplace. There is no guarantee that the stated valuation and other terms are accurate or in agreement with the market or industry valuations. Further, investors may receive illiquid and/or restricted stock that may be subject to holding period requirements and/or liquidity concerns. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck. This is a paid advertisement for Mode Mobile Reg A offering. Please read the offering statement at https://invest.modemobile.com/. Rainmaker Ad Ventures is paid by Mode Mobile for promoting their securities offering. Payment is in cash and billed monthly. As of the end of December, Rainmaker has received $118,085. Additional fees may have accrued since then. **https://www.sec.gov/Archives/edgar/data/1748441/000149315224029326/0001493152-24-029326-index.html
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