Formation Bio raises $600M fund to take stalled drugs into trials
The fund aims to acquire or license 10 to 15 candidates over three to five years. Formation Bio says it has already licensed two.
By Ryan Merket · Published
Primary source: Forbes - Innovation
Why it matters
Formation Bio is using a separate investment vehicle to scale its clinical-development strategy. The test is whether its AI-supported operations can help turn acquired drug candidates into convincing clinical evidence.
Ben Liu, Formation Bio's co-founder and CEO, has raised a $600 million investment fund to test his thesis that artificial intelligence can help drugs move through clinical development. On October 28th, Forbes reported the fund's launch, and Formation Bio's website introduced the Drug Development Accelerator Fund.…
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