Full-Time

Senior Director

Business Development Strategy

Confirmed live in the last 24 hours

Formation Bio

Formation Bio

51-200 employees

Accelerates drug development using AI technology

AI & Machine Learning
Biotechnology
Healthcare

Compensation Overview

$250k - $310kAnnually

+ Equity + Generous Perks

Senior

Boston, MA, USA + 1 more

More locations: New York, NY, USA

Hybrid position requiring in-office presence.

Category
Business Development
Business & Strategy
Requirements
  • Advanced degree (PhD, MBA, MD, or equivalent)
  • Significant experience in strategy plus business development, M&A or investing within consulting, investment banking, venture capital, or an internal corporate strategy team
  • Significant hands-on operating experience in the biotech or pharmaceutical industry, with exposure to strategy, business development, or operations
  • Proven ability to develop market maps, technology roadmaps, or other strategic frameworks to guide corporate decision-making
  • Strong understanding of the biotech/pharma landscape, including market trends, emerging technologies, and deal-making structures
  • Excellent collaboration skills with experience working cross-functionally with teams like Business Development, Search & Evaluation, and Technology
  • Experience managing portfolios, conducting diligence, and identifying strategic partnerships or alliances
  • Demonstrated interest and expertise in the application of AI/technology in life sciences
Responsibilities
  • Acting as the right-hand to the Chief Business Officer (CBO), supporting key strategic initiatives across the Business Development function
  • Collaborating with the Head of Search & Evaluation to identify promising opportunity areas and themes
  • Leading market mapping and competitive landscaping to help guide strategic investments and focus areas
  • Partnering with the technology team to build and enhance AI-powered diligence capabilities for evaluating opportunities
  • Managing and monitoring the existing portfolio of deals and assets, providing regular updates and refining opportunity areas as needed
  • Supporting creative deal structures and alliance formation, both inbound and outbound, to drive strategic partnerships and collaborations
  • Leading the BD team's efforts in branding and visibility, including representing Formation Bio at conferences and industry events to promote partnerships and raise the company's profile
  • Staying ahead of industry trends and ensuring that Formation Bio’s strategy remains aligned with long-term goals and emerging opportunities

Formation Bio focuses on speeding up the process of developing new drugs by using its own AI-driven platform. This platform helps the company identify and acquire clinical-stage assets, which are drugs that are already in testing phases. By using flexible financing options, Formation Bio aims to lower the high costs and long timelines usually involved in drug development, making new treatments more accessible and affordable for patients. The company works with pharmaceutical and biotech firms to help them improve their drug development processes. What sets Formation Bio apart from its competitors is its emphasis on using advanced AI tools to enhance the selection and development of drugs, with the goal of successfully bringing these drugs to market and forming partnerships that generate revenue.

Company Stage

Series D

Total Funding

$515.8M

Headquarters

New York City, New York

Founded

N/A

Growth & Insights
Headcount

6 month growth

-1%

1 year growth

3%

2 year growth

13%
Simplify Jobs

Simplify's Take

What believers are saying

  • The recent $372M Series D funding will significantly bolster Formation Bio's expansion and product development efforts.
  • Collaborations with industry leaders like Sanofi and OpenAI could revolutionize drug discovery and development, enhancing the company's market position.
  • Formation Bio's innovative approach to clinical trials promises more efficient and faster drug development, potentially leading to quicker market entry and higher revenue.

What critics are saying

  • The high dependency on AI and technology platforms may pose risks if these technologies fail to deliver as expected.
  • The competitive nature of the pharmaceutical industry means that Formation Bio must continuously innovate to maintain its edge.

What makes Formation Bio unique

  • Formation Bio leverages a tech-driven platform to optimize clinical drug development, unlike traditional pharmaceutical companies that rely on conventional methods.
  • Their strategic partnerships with AI leaders like OpenAI and pharmaceutical giants such as Sanofi set them apart in the competitive landscape.
  • Formation Bio's focus on acquiring and accelerating the development of clinical-stage drugs enables faster access to new treatments for patients.

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