Formation Bio secured $372 million in new funding, bringing its total raised to $528 million. The investment is primarily allocated for partnership acquisitions and research and development.
Formation's valuation post-Series D is significantly above the $1 billion valuation in its Series C round, although the exact valuation remains undisclosed.
Formation, formerly TrialSpark, founded by Liu and Zhang, leverages AI for clinical trials and drug development. It works on licensing drug IP, co-developing drugs, and advancing them through clinical proof-of-concept.
Formation's AI-driven approach aims to enhance efficiency in clinical trials by optimizing processes like participant recruitment, data management, generating patient recruitment materials, and offering drug development recommendations.
Collection
[
|
...
]