Formation Bio
Formation Bio is an AI-native drug development company that acquires clinical-stage pharmaceutical assets from pharma, biotech, and academic sources and develops them in-house using a proprietary six-module AI platform before out-licensing or commercializing the programs for large pharmaceutical partners.
- Company typePrivate
- Founded2016
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Formation Bio does
Formation Bio is an AI-native drug development company that acquires clinical-stage pharmaceutical assets from pharma companies, universities, and biotech firms and develops them in-house using a proprietary technology platform, then either out-licenses completed programs to larger pharmaceutical partners or advances them toward commercialization. The company is headquartered in New York City with additional hubs in Boston, the San Francisco Bay Area, and North Carolina's Research Triangle, operating with a deliberately compact 101–250-person cross-functional team that bridges pharma development and software engineering. Its current pipeline spans five assets across therapeutic areas including autoimmune disease, dermatology, CNS disorders, inflammatory bowel disease, and osteoarthritis.
The company's core technology stack is organized into six integrated modules: Delphi (clinical trial success prediction via multi-agent architecture), Atlas (asset sourcing and screening across dozens of upstream sources), Forge (AI-driven trial design evaluated across thousands of configurations trained on 300,000+ precedent trials), Apollo (trial execution currently managing 142 active sites), ARK (an MCP-based AI operating system connecting 80+ internal systems to OpenAI, Anthropic, and Google models), and a Data Platform unifying 720,000+ clinical trials, 150M+ real-world patient records, 4.6M+ scientific papers, and 290K+ deals. Muse, a GenAI patient recruitment tool, sits on top of Apollo. The platform is operated by a team whose leadership includes alumni of Pfizer, Allergan, Tessera Therapeutics, BenevolentAI, and Oscar Health, and whose advisors have collectively worked on 45+ approved drugs.
Formation Bio generates revenue through asset licensing and development partnerships, including upfront payments, development/regulatory/commercial milestones, and tiered royalties. Disclosed deal value includes a $630M Sanofi agreement for gusacitinib, a $605M-plus Lynk Pharmaceuticals transaction for the TYK2 inhibitor BLKR201, and a reported ~$2.5B from sales of two AI-optimized drug compounds. The company is privately held, has raised over $615M from investors including Andreessen Horowitz, Sequoia, Thrive Capital, Sanofi, and Sam Altman at a $1.8B valuation, and operates three wholly-owned asset subsidiaries (Bleecker Bio, High Line Bio, Libertas Bio) to ring-fence specific programs.
Formation Bio firmographics
Firmographics- Name
- Formation Bio
- Legal name
- Formation Bio
- Website
- https://formation.bio
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Formation Bio is an AI-native drug development company that acquires clinical-stage pharmaceutical assets from pharma, biotech, and academic sources and develops them in-house using a proprietary six-module AI platform before out-licensing or commercializing the programs for large pharmaceutical partners.
- Ownership category
- akta.pro rank
Formation Bio industry classification
Industry- Product category
- AI-Driven Pharmaceutical Drug Development
- NAICS
- Pharmaceutical and Medicine Manufacturing (3254), Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714), Pharmaceutical Preparation Manufacturing (325412)
- SIC
- Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Translational Medicine & Biomarkers (HLAIALAF)
- akta.pro secondary industries
- Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation) (HLAAAIAI), Process Development & Tech Transfer Services (upstream/downstream) (HLAAAKAF)
Keywords
Where Formation Bio is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
Formation Bio business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Asset Licensing and Development: Acquire clinical-stage drug candidates and develop them using proprietary AI platform. Realize value through out-licensing deals with milestone payments, royalties, or direct asset sales upon reaching development inflection points. Revenue comes from upfront payments, development/regulatory/commercial milestones, and tiered royalties.
- Asset Sales: Development partnerships where Formation Bio sells completed or advanced drug compounds to pharmaceutical partners. Examples include $630M Sanofi licensing deal and reportedly generated ~$2.5B from selling two AI-optimized drug compounds.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Formation Bio product offering
Product offeringCore offering
Formation Bio acquires clinical-stage drug candidates from pharma companies, universities, and biotech firms and develops them in-house using its proprietary AI-native drug development platform. The company then monetizes these assets through out-licensing deals, milestone payments, royalties, or asset sales to larger pharmaceutical partners. Current pipeline assets include BLKR201 (Phase 1), Sprifermin (Phase 2), Gusacitinib (Phase 3, licensed to Sanofi), RVW101 (Phase 1), and KMR301 (preclinical).
Product overview
Formation Bio is an AI-native pharma company operating a tech-driven drug development platform. The core platform consists of six interconnected modules: Delphi (predictive intelligence), Atlas (drug hunting), Forge (trial design), Apollo (trial execution), ARK (AI operating system), and the Data Platform. Muse is a GenAI-powered patient recruitment tool integrated with Apollo. The company acquires and develops clinical-stage drug candidates through subsidiaries including Bleecker Bio, High Line Bio, and Libertas Bio. Current pipeline includes BLKR201 (Phase 1 CNS TYK2 inhibitor), Sprifermin (Phase 2 osteoarthritis), Gusacitinib (Phase 3, licensed to Sanofi for chronic hand eczema), RVW101 (Phase 1 anti-CD226 antibody), and KMR301 (preclinical miR-124 inducer).
Differentiator
Problem solved
Functional benefit
Products and services
- BLKR201 (formerly LNK01006) CNS-penetrant TYK2 inhibitor in Phase 1 clinical development for autoimmune and inflammatory conditions affecting the central nervous system; licensed from Lynk Pharmaceuticals and developed within the Bleecker Bio subsidiary.
- Sprifermin Recombinant human fibroblast growth factor 18 (FGF18) in Phase 2 for knee osteoarthritis, a degenerative joint disease with no approved disease-modifying therapies; developed within the High Line Bio subsidiary.
- Gusacitinib SYK/JAK inhibitor licensed to Sanofi in Phase 3 development for chronic hand eczema, an underserved condition impacting up to 10% of adults with no approved US treatments.
- RVW101 Anti-CD226 monoclonal antibody in development for ulcerative colitis, a chronic inflammatory bowel disease affecting approximately 5 million people globally.
- KMR301 Oral small molecule miR-124 inducer in preclinical development for autoimmune disease; miR-124 is an anti-inflammatory microRNA reduced in multiple immunology and inflammatory diseases.
Quantifiable outcome
- 50% reduction in clinical trial timelines through AI optimization
- +3 more outcomes
Companies that use Formation Bio
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles2 records
Formation Bio technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability11 records
Feature8 records
Formation Bio partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered minor and core.
- CTFH (Clinical Trial Facility/Hospital)minorLicensed miR-124 activator for autoimmune diseases. Partnership to develop microRNA-based therapy targeting inflammatory diseases.
- Lynk PharmaceuticalscoreExclusive development and licensing agreement for CNS-penetrant TYK2 inhibitor LNK01006 (now BLKR201). Deal exceeds $605M including upfront payment, equity stake, milestones, and royalties. Formation Bio formed Bleecker Bio subsidiary for development. First patient dosed June 2026 in Phase 1 trial.
- SanoficoreThree-way AI collaboration with OpenAI and Sanofi to develop AI-powered software for drug development. Sanofi invested $372M in Formation Bio's Series D. Sanofi also licensed gusacitinib for up to $630M. Sanofi Ventures committed $1.4B fund with $625M focused on AI-driven drug discovery investments.
- OpenAIcoreThree-way collaboration with Sanofi and Formation Bio to fine-tune AI models on proprietary pharmaceutical data for drug development applications. Sam Altman personally invested and serves as backer.
- Eli LillycoreFormation Bio reportedly in $2B deal with Eli Lilly. Major pharmaceutical partnership for drug development.
Scale indicators7 records
Recent moves9 records
Expansion highlights6 records
Formation Bio competitors and assessment
Company assessmentDirect peers
- Recursion Pharmaceuticals: AI-native drug discovery and development company combining high-throughput biology with machine learning to advance clinical programs. Directly comparable as a tech-native pharma pursuing AI-driven development acceleration, though Recursion emphasizes discovery while Formation Bio emphasizes clinical execution.
- Insitro: Machine learning-driven drug discovery and development company. Comparable in applying AI/ML to pharma R&D and in operating at the intersection of technology and life sciences with a venture-backed business model.
- BenevolentAI: AI-driven drug discovery company using knowledge graphs and machine learning to identify novel targets and advance clinical programs. Comparable AI-native approach to pharma development; Formation Bio's CTO previously served as CTO at BenevolentAI.
- Exscientia: AI-driven precision medicine company focused on small molecule drug discovery and development. Comparable in using AI to accelerate drug development and in pursuing licensing/partnering business models with pharma.
- Schrödinger: Computational chemistry and AI-driven drug discovery platform serving both internal programs and external pharma partners. Comparable in providing AI/computational tools for pharma development with a hybrid business model.
- Isomorphic Labs: Alphabet-owned AI drug discovery company applying DeepMind's protein structure prediction and AI capabilities to pharmaceutical R&D. Comparable as a well-capitalized AI-native pharma pursuing end-to-end drug development.
- XtalPi: AI and quantum physics-driven drug discovery company combining computational platforms with wet-lab validation. Comparable in applying advanced AI/ML techniques to accelerate small molecule and biologic drug development.
Emerging players
- Owkin: AI biotech applying federated learning and AI to drug discovery and clinical development, with a particular emphasis on real-world patient data. Comparable in leveraging AI for clinical insights and pharma partnership models.
Broad incumbents
- Eli Lilly (Lilly Catalyze360 / TuneLab): Large pharmaceutical company that is both a partner (reported ~$2B deal) and increasingly developing in-house AI drug development capabilities. Relevant as a strategic counterparty and as a benchmark for incumbent AI investment in pharma.
- Sanofi: Major pharmaceutical partner and investor that licensed gusacitinib for $630M+ and led the Series D. Comparable as a strategic pharma partner pursuing AI-driven drug development, both as a collaboration partner and competitive incumbent.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Formation Bio social profiles
Digital presenceFormation Bio financial estimates
Financial estimateRevenue estimate
Valuation estimate
Formation Bio leadership team
Management profileNumber of profiles
Profiles11 records
Formation Bio subsidiaries and ownership
Company hierarchySubsidiaries3 records
Formation Bio funding detail
Funding detailFunding overview
Funding rounds4 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Formation Bio M&A and investment
M&A and investmentM&A1 record
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Formation Bio
What does Formation Bio do?
Formation Bio acquires clinical-stage drug candidates from pharma companies, universities, and biotech firms and develops them in-house using its proprietary AI-native drug development platform. The company then monetizes these assets through out-licensing deals, milestone payments, royalties, or asset sales to larger pharmaceutical partners. Current pipeline assets include BLKR201 (Phase 1), Sprifermin (Phase 2), Gusacitinib (Phase 3, licensed to Sanofi), RVW101 (Phase 1), and KMR301 (preclinical).
Is Formation Bio a public or private company?
Formation Bio is a private company. It is classified as venture growth investor backed and is currently operating.
When was Formation Bio founded?
Formation Bio was founded in 2016. It employs 101 to 250 people.
Where is Formation Bio based?
Formation Bio is headquartered in New York, United States, in the North America region.
How does Formation Bio make money?
Two revenue lines are on record. Asset Licensing and Development is the primary driver. The others are asset Sales.
Who are Formation Bio's main competitors?
Direct peers on record are Recursion Pharmaceuticals, Insitro, BenevolentAI, Exscientia, Schrödinger, Isomorphic Labs and XtalPi. Owkin is listed as an emerging player. Broad incumbents are Eli Lilly (Lilly Catalyze360 / TuneLab) and Sanofi.
Does Formation Bio have an API?
No public API is recorded for Formation Bio.
What industry is Formation Bio in?
Formation Bio's product category is AI-Driven Pharmaceutical Drug Development. Its primary akta.pro industry code is HLAIALAF, Translational Medicine & Biomarkers, with a secondary code of HLAAAIAI, Target Identification & Validation Platforms (omics-driven, chemoproteomics, genetic validation). Its NAICS code is 3254 and its SIC code is 2834.