Formation Bio Raises $372M in Series D to Expand AI-Driven Pharma Capabilities
Formation Bio is an AI-native pharmaceutical company that integrates cutting-edge technology into every aspect of drug development.
Company Name: Formation Bio
Location: New York City, NY
Sector: Pharmaceuticals, Artificial Intelligence
Funding Details: Raised $372M in Series D funding. Led by a16z, with participation from Sanofi, Sequoia, Thrive, Emerson Collective, Lachy Groom, SV Angel Growth, and FPV Ventures. Board members include Scott Kupor (a16z) and Alfred Lin (Sequoia), with Michael Moritz (Sequoia Heritage) and board observer Kareem Zaki (Thrive Capital).
Purpose of Investment: To acquire and in-license candidate drugs and expand AI capabilities.
Leadership: With board directors from major investment firms and strategic guidance from industry leaders, Formation Bio is positioned to enhance its impact in the pharma sector.
Product: Originally launched as TrialSpark in 2016, Formation Bio has developed a tech and AI-enabled platform that accelerates drug development and clinical trials. The company specializes in partnering, acquiring, or in-licensing drugs and advancing them through critical clinical development stages using a unique NewCo model. This approach allows for shared ownership and outcomes with partners, supported by significant capital and technological capabilities.
About Company: Formation Bio is an AI-native pharmaceutical company that integrates cutting-edge technology into every aspect of drug development. By leveraging AI and a tech-driven approach, the company aims to streamline the lengthy processes of drug development, from discovery through to clinical trials, enhancing efficiency and effectiveness in bringing new therapies to market.