Formation Bio

A tech-driven model focused on more efficient drug development and value creation.

About

Founded

2014

Headquarters

New York, New York

Industry

Biotech

Company Description

Formation 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.

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Funding

Total Raised

$600 million

Valuation

Undisclosed

Significant Investors

Andreessen Horowitz, Sequoia Capital, Thrive Capital, Spark Capital, Felicis Ventures, Lachy Groom, Dragoneer Investment Group, Sam Altman

Company Traction

  • As of May 2023, Formation Bio has four drugs under development for chronic hand eczema (phase 3), pruritus (phase 2), atopic dermatitis (pre-clinical), and knee osteoarthritis (phase 2).
  • Formation Bio claims a time savings of 1-3 years per drug program and a $1 billion+ sales advantage per drug program.

Leadership Team

  • Benjamine Liu: Co-Founder & CEO of Formation Bio. Former Computation Biologist at Translational Neuroscience and Dementia Research Group.
  • Linhao Zhang: Co-Founder & COO of Formation Bio. Former Product Engineer at Oscar Insurance.
  • Gavin Corcoran: Chief Medical Officer at Formation Bio. Former Chief Medical Officer at Allergan.
  • James Leslie: CFO at Formation Bio. Former CFO at Flatiron School.

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