Yeah, the last time new geneseed was crafted, arguably, was the Grey Knights with two seemingly specific goals in mind, one was crafting powerful Astares psykers and the other was ensuring they were inviolable by Chaos. What the OP is describing sounds more like a Fabius Bile experiement, with his usual results, than anything that can be performed by 40K Mechanicum.
Hell, for Corax to even contemplate crafting new gene seed, he required a brain-dump from the Emperor himself... which he didn't really have conscious control over anyway.
I'd say exterminatus.
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