Colossal Biosciences CEO Ben Lamm speaking at SXSW in Austin, Texas on March 9. Amy E. Price/SXSW Conference & Festivals via Getty Images

Bringing the woolly mammoth back to life is no easy task. But for Ben Lamm, CEO of Colossal Biosciences, the stress of the job is well worth it for such a breakthrough’s potential impact on conservation, technological advancement and what he thinks will eventually be a lucrative payoff.

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The biotech aspect, which involves genetically........

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