Arena BioWorks, a high‑profile, privately funded Boston research institute launched with $500 million, abruptly announced it will shut down operations and lay off staff, citing adverse biotech market conditions and funding uncertainty. Founders and investors said they will support severance and explore paths to advance the most promising science, but the closure highlights investor caution for large, long‑dated discovery ventures. Meanwhile Colossal Biosciences acquired Viagen Pets & Equine, a cloning and biobanking company, to expand cloning and species‑preservation capabilities. Colossal said Viagen’s cloning expertise and biobank complement its de‑extinction and conservation ambitions. Together, these moves underscore a period of consolidation, reprioritization and risk reassessment across capital‑intensive biotech ventures.