New York-based Formation Bio originally launched in 2016 under the name TrialSpark as a service provider that helped companies more rapidly enroll clinical trials. Its prior investors Sequoia, Thrive, Emerson Collective and Lachy Groom participated in the recent series D round along with new investors, including SV Angel Growth and FPV Ventures.
Formation Secures Huge Series D For AI Platform Growth
Biopharmaceutical venture capital fundraising is on the rise in 2024. In late June, Formation Bio secured a mega financing, raising $372m via a series D round led by a16z and Sanofi.
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An interactive look at pharma, medtech and diagnostics deals made during February 2025. Data courtesy of Biomedtracker.
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Three $1bn+ alliances were penned in February, and one exceeded $2bn.
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From a $7m discarded asset to a $336m commercial portfolio, In Vivo looks inside Mirum Pharma’s disciplined strategy for identifying, acquiring and revitalizing overlooked rare disease programs while building toward billion-dollar potential.