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About Formation Bio
Industries
AI & Machine Learning
Biotechnology
Healthcare
Company Size
51-200
Company Stage
Series D
Total Funding
$530.3M
Headquarters
New York City, New York
Founded
2013
Overview
Formation Bio focuses on speeding up the process of developing new drugs by using its own AI-based platform. The company works with clinical-stage assets, which are drugs that are already in the testing phase, and it acquires and develops these drugs using adaptable financing options. By doing this, Formation Bio aims to lower the high costs and long timelines that are usually involved in bringing new medications to market, making them more affordable and accessible to patients. Unlike many other companies in the pharmaceutical and biotech industries, Formation Bio emphasizes the use of advanced AI tools to improve the selection and development of drugs, which helps increase efficiency. The company's goal is to successfully commercialize drugs and form partnerships that will benefit both the company and the healthcare industry.
Simplify's Take
What believers are saying
- $372M Series D funding boosts platform expansion and asset acquisition capabilities.
- Collaboration with OpenAI and Sanofi advances AI-driven drug discovery standards.
- Precision genomics partnership with SomaLogic improves biomarker identification and patient stratification.
What critics are saying
- Competition from other AI-driven drug developers may impact market share.
- Regulatory scrutiny on AI processes could lead to delays and compliance costs.
- Dependence on partnerships poses risks if collaborations dissolve or underperform.
What makes Formation Bio unique
- Formation Bio uses AI to accelerate drug development, reducing costs and timelines.
- The company acquires clinical-stage assets, enhancing drug development flexibility and efficiency.
- Partnerships with major pharma firms provide access to proprietary data and resources.
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Funding
Total Funding
$530.3M
Above
Industry Average
Funded Over
3 Rounds
SV Angel
Andreessen HorowitzIndustry standards
Benefits
Company Equity
Remote Work Options
Flexible Work Hours
Growth & Insights and Company News
6 month growth
↓ -1%1 year growth
↑ 0%2 year growth
↓ -1%TrialSpark dba Formation Bio has filed a notice of an exempt offering of securities to raise $372,000,000.00 in New Equity Investment. TrialSpark dba Formation Bio has filed a notice of an exempt offering of securities to raise $372,000,000.00 in New Equity Investment.According to filings with the U.S. Securities and Exchange Commission, TrialSpark dba Formation Bio is raising up to $372,000,000.00 in new funding. Sources indicate that as part of senior management Chief Executive Officer, Benjamine Liu played a key role in securing the recent investment and it will aid in aggressively expanding the company, as well as broaden and accelerate product development.About TrialSpark dba Formation BioFormation Bio is a tech-driven pharmaceutical company differentiated by radically more efficient drug development. Formation Bio has built a technology platform that optimizes critical aspects of clinical drug development, enabling more efficient trial design, faster trial completion, and higher quality trial data. The company acquires clinical-stage drugs from pharmaceutical and biotech companies with the goal to develop them faster in order to accelerate access to new treatments for patients, and to unlock greater value per program.To learn more about TrialSpark dba Formation Bio, visit http://www.formation.bio/TrialSpark dba Formation Bio Linkedin Page: https://www.linkedin.com/company/formationbio/Contact:Benjamine Liu, Chief Executive Officer866-283-7544https://www.linkedin.com/in/benjamine-liu-54306518/SOURCE: http://www.intelligence360.ioCopyright (c) 2024 SI360 Inc
Formation Bio, a NYC-based tech-driven and AI-native pharma company, raised $372M in Series D funding
What You Should Know:– Sanofi, a global pharmaceutical leader, Formation Bio, an AI-powered drug developer, and OpenAI, a leading research and development company in artificial intelligence, have announced a groundbreaking collaboration. The first-of-its-kind partnership in the pharma and life sciences industries aims to leverage AI to accelerate drug development and bring new medicines to patients faster.– Sanofi, Formation Bio, and OpenAI believe this collaboration will be a game-changer in the pharmaceutical industry. By combining their expertise in data, AI technology, and drug development, they aim to revolutionize the way new medicines are discovered and brought to market.A Symphony of ExpertiseThe collaboration will combine the unique strengths of each partner:Sanofi: Will contribute proprietary data for building custom AI models, furthering their goal of becoming the first biopharma company powered by AI at scale. This data will be crucial for training and refining the AI tools used in drug discovery.Will contribute proprietary data for building custom AI models, furthering their goal of becoming the first biopharma company powered by AI at scale. This data will be crucial for training and refining the AI tools used in drug discovery. OpenAI: World-renowned for its advancements in AI technology, OpenAI will contribute access to cutting-edge AI capabilities
TrialSpark is also partnering with industry leaders such as SomaLogic to leverage precision genomics and proteomics platforms to identify key biomarkers and stratify patients using synovial fluid samples from prior clinical studies using AI and machine-learning approaches.
TrialSpark has collaborated with pharma companies such as Sanofi, Novartis, and Pfizer, among others.
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About Formation Bio
Industries
AI & Machine Learning
Biotechnology
Healthcare
Company Size
51-200
Company Stage
Series D
Total Funding
$530.3M
Headquarters
New York City, New York
Founded
2013
Formation Bio is Hiring for 20 Jobs on Simplify!
Find jobs on Simplify and start your career today