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AP Photo/Alexandre Meneghini

eGenesis, a Cambridge, Mass.-based xenotransplantation startup, today announced that it has raised $38 million in Series A funding. Biomatics Capital and ARCH Venture Partners co-led the round, and were joined by Khosla Ventures, Alta Partners, Alexandria Venture Investments, Heritage Provider Network, Berggruen Holdings North America, Uprising and Fan Ventures.

Why it's a big deal: Because "xenotransplantation" is a process by which you take the organs of one species (i.e. pigs) and putting them in another species (i.e. humans). Obviously this isn't just a cut-and-paste job, which is why eGenesis is using CRISPR gene editing tools to modify the pig organs. It's also worth noting that eGenesis isn't the only company working in this space.

Bottom line: "This pig may save your bacon." -- slogan on eGenesis t-shirts

Go deeper

OIG: HHS misused millions of dollars intended for public health threats

Vaccine vials. Photo: Punit Paranjpe/AFP via Getty Images

The U.S. Office of Special Counsel alerted the White House and Congress on Wednesday of an investigation that found the Department of Health and Human Services misused millions of dollars that were budgeted for vaccine research and public health emergencies for Ebola, Zika and now the COVID-19 pandemic.

Why it matters: The more than 200-page investigation corroborated claims from a whistleblower, showing the agency's violation of the Purpose Statute spanned both the Obama and Trump administrations and paid for unrelated projects like salaries, news subscriptions and the removal of office furniture.

John Kerry: U.S.-China climate cooperation is a "critical standalone issue"

President Biden's special climate envoy John Kerry said Wednesday that the U.S. must deal with China on climate change as a "critical standalone issue," but stressed that confronting Beijing's human rights and trade abuses "will never be traded" for climate cooperation.

Why it matters: The last few years have brought about a bipartisan consensus on the threat posed by China. But as the world's largest greenhouse gas emitter, China will be a vital player if the world is going to come close to reining in emissions on the scale needed to meet the Paris Agreement goals of limiting warming to 2°C above pre-industrial levels.

In cyber espionage, U.S. is both hunted and hunter

Illustration: Eniola Odetunde/Axios

American outrage over foreign cyber espionage, like Russia's SolarWinds hack, obscures the uncomfortable reality that the U.S. secretly does just the same thing to other countries.

Why it matters: Secrecy is often necessary in cyber spying to protect sources and methods, preserve strategic edges that may stem from purloined information, and prevent diplomatic incidents.