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, Expert

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 a specialized platform that incorporates technology and artificial intelligence. The company works with clinical-stage assets, which are drugs that are already in testing phases, and it acquires and develops these assets using adaptable financial strategies. This method is designed to lower the high costs and long timelines typically involved in bringing new medications to market, making them more affordable and accessible to patients. Formation Bio primarily serves pharmaceutical and biotech companies that want to improve their drug development processes. By utilizing advanced AI tools, the company enhances the selection and development of drugs, aiming to generate revenue through successful commercialization and partnerships.

Company Stage

Series D

Total Funding

$515.8M

Headquarters

New York City, New York

Founded

2013

Growth & Insights
Headcount

6 month growth

0%

1 year growth

6%

2 year growth

13%
Simplify Jobs

Simplify's Take

What believers are saying

  • Formation Bio raised $372M in Series D funding to expand and accelerate product development.
  • Partnerships with Sanofi and OpenAI enhance AI capabilities in drug discovery.
  • AI-driven drug repurposing reduces development time and costs significantly.

What critics are saying

  • Increased competition from AI-driven drug development companies may impact market share.
  • Regulatory scrutiny over AI-driven processes could lead to delays or compliance costs.
  • Dependence on partnerships poses risks if collaborations face challenges or dissolve.

What makes Formation Bio unique

  • Formation Bio uses a proprietary AI-driven platform for drug development.
  • The company focuses on acquiring and developing clinical-stage assets efficiently.
  • Formation Bio partners with leading firms like Sanofi and OpenAI for AI-powered drug discovery.

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