Formation Bio raised $372MM in a Series D funding led by a16z with participation from Sanofi and other investors
Formation Bio raised $372MM in a Series D funding led by a16z with participation from Sanofi and other investors
06/26/24, 1:17 PM
Location
new yorkMoney raised
$372 million
Industry
pharmaceutical
artificial intelligence
biotechnology
health care
Round Type
series d
Investors
Fpv Ventures, Sv Angel Growth, Lachy Groom, Emerson Collective, Thrive, Sequoia, Sanofi, A16z
Formation Bio, a tech-driven and AI-native pharma company, raised $372MM in a Series D financing round. The funding was led by a16z with significant participation from Sanofi, along with other existing and new investors. The company aims to use the funding to grow its drug pipeline and continue expanding its AI-driven drug development platform.
Company Info
Location
new york, new york, united states
Additional Info
TrialSpark, a tech-driven drug developer with a portfolio of clinical stage drug assets, is rebranding to Formation Bio. 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.