Formation Bio, based in New York and founded in 2016 as TrialSpark, licenses drug candidates and uses AI to move them through clinical development faster. It raised a $372 million Series D led by a16z, with Sanofi taking part, in June 2024.
At a glance
| Price from | Custom |
| Best for | Biotechs looking to license or co-develop drug assets |
From Formation Bio's own website.
What stands out
- Backed by a16z and Sanofi
- Works on clinical development, not only discovery
Worth knowing
- In-licenses rather than discovers most assets
- Older than most startups on this list
How it ranks
Formation Bio is ranked 6th of 10 in Best AI Drug Discovery Startups (Lister Score 90.7).
#6 in Best AI Drug Discovery Startups · Lister Score 90.7
Formation Bio has raised more than $600 million in total, according to press reports..
| Rank | Best AI Drug Discovery Startups | Score |
|---|---|---|
| 1 | Isomorphic Labs | 97.1 |
| 2 | Xaira Therapeutics | 95.8 |
| 3 | Chai Discovery | 94.6 |
| 4 | Enveda | 93.3 |
| 5 | insitro | 92.0 |
| 6 | Formation Bio | 90.7 |
| 7 | Genesis Molecular AI | 89.4 |
| 8 | BigHat Biosciences | 88.1 |
| 9 | Terray Therapeutics | 86.7 |
| 10 | Cradle | 85.3 |
Frequently asked questions
How does Formation Bio rank on Lister?
Formation Bio is ranked 6th of 10 in Best AI Drug Discovery Startups (Lister Score 90.7).
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