About Formation Bio
Formation Bio is a company based in New York (United States) founded in 2016 by Benjamine Liu and Linhao Zhang.. Formation Bio has raised $608 million across 4 funding rounds from investors including Sanofi, Spark Capital and ArrowMark Partners. Formation Bio offers products and services including Drug Development Platform. Formation Bio operates in a competitive market with competitors including Incyte, LEO Pharma, Flexion Therapeutics, Owkin and AbSci, among others.
- Headquarter New York, United States
- Founders Benjamine Liu, Linhao Zhang
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Sectors
HealthcareTechnology
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$608 M (USD)
in 4 rounds
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Latest Funding Round
$372 M (USD), Series D
May 21, 2024
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Investors
Sanofi
& 12 more
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Employee Count
Employee Count
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Products & Services of Formation Bio
Formation Bio offers a comprehensive portfolio of products and services, including Drug Development Platform. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Accelerates drug development using AI for efficient clinical trials
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Software Development Team
9 people
Human Resources and Administration
6 people
Product Management Team
6 people
Advisor Team
6 people
Leadership Team
5 people
Finance and Accounting
4 people
Sales and Marketing
4 people
Data Analysis and Operations Team
3 people
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Funding Insights of Formation Bio
Formation Bio has successfully raised a total of $608M across 4 strategic funding rounds. The most recent funding activity was a Series D round of $372 million completed in May 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series D — $372.0M
- First Round First Round
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2024 | Amount | Series D - Formation Bio | Valuation | a16z | |
| Sep, 2021 | Amount | Series C - Formation Bio | Valuation |
investors |
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| Jun, 2018 | Amount | Series B - Formation Bio | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Formation Bio
Formation Bio has secured backing from 13 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Sanofi, Spark Capital and ArrowMark Partners. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments in technology sectors are handled by Andreessen Horowitz.
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Founded Year | Domain | Location | |
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Philanthropic assets are managed by Willett Advisors LLC.
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Founded Year | Domain | Location | |
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Sequoia Capital is engaged in venture capital investments.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Formation Bio
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Formation Bio
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Formation Bio Comparisons
Competitors of Formation Bio
Formation Bio operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Incyte, LEO Pharma, Flexion Therapeutics, Owkin and AbSci, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Small molecules are developed for cancer and skin disease treatments.
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| domain | founded_year | HQ Location |
Developer of drugs for treating dermatology diseases
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| domain | founded_year | HQ Location |
Developer of therapies for the treatment of musculoskeletal disorders
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| domain | founded_year | HQ Location |
An agentic AI platform is developed for biomedical research insights.
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| domain | founded_year | HQ Location |
AI-based technology is used for recombinant protein production in therapeutics.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Formation Bio
Frequently Asked Questions about Formation Bio
When was Formation Bio founded?
Formation Bio was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Formation Bio located?
Formation Bio is headquartered in New York, United States. It is registered at New York, New York, United States.
Who is the current CEO of Formation Bio?
Benjamine Liu is the current CEO of Formation Bio. They have also founded this company.
Is Formation Bio a funded company?
Formation Bio is a funded company, having raised a total of $608M across 4 funding rounds to date. The company's 1st funding round was a Series B of $80M, raised on Jun 01, 2017.
What does Formation Bio do?
AI-powered drug discovery platform for various diseases. The company leverages technology such as LLMs and the modern data stack in novel ways to efficiently design and operate clinical development in Atopic Dermatitis, Chronic Hand Eczema, and Knee Osteoarthritis.
Who are the top competitors of Formation Bio?
Formation Bio's top competitors include Owkin, Flexion Therapeutics and LEO Pharma.
What products or services does Formation Bio offer?
Formation Bio offers Drug Development Platform.
Who are Formation Bio's investors?
Formation Bio has 13 investors. Key investors include Sanofi, Spark Capital, ArrowMark Partners, Andreessen Horowitz, and Willett Advisors.
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