Formation Bio
↗New York, USA
Formation Bio (formerly TrialSpark) is an AI-native, tech-enabled pharmaceutical company that aims to radically accelerate drug development. The company operates by acquiring or in-licensing clinical-stage drug candidates from biotech and pharmaceutical companies and advancing them through its proprietary technology platform.
By integrating software, AI, and streamlined clinical trial operations, Formation Bio reduces the time and cost of drug development. The company recently entered a first-of-its-kind collaboration with OpenAI and Sanofi to build specialized AI models and tools, such as 'Muse', designed to automate and optimize patient recruitment and trial design.
CLASSIFICATION
SIZE & FINANCIALS
Employees:201-500
Revenue:Pre-revenue
Founded:2016
Ownership:private
Status:operating
FUNDING
Stage:Series D
Total Raised:$622M
Investors:Andreessen Horowitz (a16z), Sanofi, Sequoia Capital, Thrive Capital, Emerson Collective, SV Angel Growth, FPV Ventures, Lachy Groom
PIPELINE
Stage:Phase 3
Lead Drug Stage:Phase 3 (Gusacitinib)
Modalities:Small molecule, mAb, Biologic
Active Trials:4
Trial Phases:Phase 1: 2 | Phase 2: 1 | Phase 3: 1
FDA Approvals:0
EMA Approvals:0
CORPORATE STRUCTURE
Key Partnerships:Sanofi (Strategic AI collaboration and asset licensing), OpenAI (AI model development for drug R&D), Lynk Pharmaceuticals (In-licensing of TYK2 inhibitor), IMIDomics (In-licensing of immunology assets)
COMPETITION
Position:Challenger
Competitors:Roivant Sciences, BridgeBio Pharma, Recursion Pharmaceuticals, Schrodinger
LEADERSHIP
Key Executives:
Benjamine Liu - CEO & Co-Founder
Linhao Zhang - CTO & Co-Founder
James Leslie - CFO
David Steinberg - Chief Business Officer
Scientific Founders:Benjamine Liu, Linhao Zhang
Board Members:Scott Kupor (a16z), Alfred Lin (Sequoia), Michael Moritz (Sequoia Heritage), James Robinson (Former CEO of Urovant), James Hardiman (DCVC)
LINKS
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