Formation Bio

Formation Bio, founded in 2016 in New York City, has raised approximately $608 million in funding and achieved a valuation of $1 billion as of June 2024. Its significant latest financing was a $372 million Series D, backed by top investors including Andreessen Horowitz, Sequoia Capital, and Sanofi. The company leverages large language models (LLMs), generative AI, and a modern data stack to accelerate clinical development for diseases such as atopic dermatitis, chronic hand eczema, and knee osteoarthritis. By combining AI-native workflows with drug-asset licensing and in-licensing, Formation Bio aims to significantly shorten development timelines and increase efficiency in the biopharma sector.