Scientists at the San Diego Zoo Safari Park are hoping that their "frozen zoo" can save the world's endangered species.

This advanced technology involves turning skin cells into stem cells, which then become egg and sperm necessary for in-vitro fertilization. A surrogate mom from a related species would then carry the resulting embryo, theoretically resulting in new offspring.

While this method has been successful in mice, scientists hope to apply it to rhinos. The northern white rhino, specifically, is on the brink of extinction, with just five remaining in all the world.

In 2014, a record 1,215 rhinos died from poaching - a 21 percent increase from the previous year. These animals are being wiped out from the wild mainly because of poaching for their horns, which many mistakenly believe have medicinal value.

"The horn is made out of keratin, the same thing as your fingernail," rhino keeper Jane Kennedy told CBS News. "If rhino horn cured cancer, then all you'd have to do is chew on your fingernails and there would be no more cancer in the world."

Despite successful breeding programs, the rhino is still struggling, and Safari Park's "frozen zoo" could be the answer. It is the world's largest genetic bank, with samples from some 10,000 animals, including 12 northern white rhinos. And while it could potentially save all of these endangered species, others argue that conservation efforts should look to different, more effective methods.

"What zoos need to focus on is improving the conditions for the animals who are already in their care, not pouring millions and millions of dollars into a futile effort to clone animals, for whom there is no natural habitat left on earth," said Brittany Peet, deputy director of captive animal law enforcement at PETA.

It remains to be seen whether this novel approach will be successful, but with many species expected to go extinct soon, it's worth a try.

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