Total amount raised
$528 Millions
Latest funding date
06/01/2024
Location
Formation Bio leverages a proprietary tech-driven, AI-native platform to accelerate drug development, aiming to bring new treatments to patients more efficiently. The company focuses on acquiring clinical-stage drugs and developing them to reach critical milestones faster.
Keep reading to explore the intricacies of Formation Bio's fundraising journey and the investors backing this innovative platform.
What Is Formation Bio?
Formation Bio is a tech-driven, AI-native pharmaceutical company focused on revolutionizing drug development. Founded around 2025, the company aims to bring new treatments to patients faster and more efficiently by leveraging advanced technology and artificial intelligence.
Specializing in the pharmaceutical industry, Formation Bio acquires clinical-stage drugs and develops them through a proprietary platform. Their multidisciplinary team has extensive experience, having worked on over 45 approved drugs, and is dedicated to addressing the bottlenecks in the current drug development ecosystem.
How Much Funding Has Formation Bio Raised?
- Seed Round
- Amount Raised: -
- Date: September 2017
- Lead Investors: -
- Venture Round
- Amount Raised: -
- Date: October 2018
- Lead Investors: -
- Series C
- Amount Raised: $156M
- Date: September 2021
- Lead Investors: Lachy Groom, Sam Altman
- Series D
- Amount Raised: $372M
- Date: June 2024
- Lead Investors: Andreessen Horowitz
Formation Bio has raised a total of $528M in funding.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz, also known as a16z, is a private American venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. The firm is known for its investments in both early-stage startups and established growth companies.
- Investment Focus Areas: Technology, healthcare, fintech, consumer, enterprise.
- Notable Investments: Facebook, Airbnb, Lyft.
- Lachy Groom
- Details: Lachy Groom is a prominent angel investor and former executive at Stripe. He has a reputation for backing early-stage technology startups.
- Investment Focus Areas: Fintech, SaaS, consumer technology.
- Notable Investments: Figma, Notion, Rippling.
- Sam Altman
- Details: Sam Altman is an entrepreneur, investor, and the former president of Y Combinator. He is currently the CEO of OpenAI.
- Investment Focus Areas: Artificial intelligence, biotech, energy.
- Notable Investments: Reddit, Stripe, OpenAI.
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