Formation Bio raises $372M to boost drug development with AI
Who led Formation Bio's Series D funding round?
Formation Bio's Series D funding round was led by Andreessen Horowitz, raising a total of $372 million. Other participants in the round included Sanofi, Sequoia, Thrive, Emerson Collective, Lachy Groom, SV Angel Growth, and FPV Ventures4. This brings Formation Bio's total funding to over $600 million.
How does Formation Bio enhance the efficiency of clinical trials?
Formation Bio enhances the efficiency of clinical trials by streamlining processes such as study startup, participant recruitment, and data management. The company deploys AI to generate patient recruitment materials and reports for adverse events, as well as fine-tuning AI models to provide drug development teams with recommendations for R&D decisions and predicting drug toxicity, tolerability, and efficacy.
What are the three drug candidates in Formation Bio's clinical pipeline?
Formation Bio's clinical pipeline includes three drug candidates: a treatment for chronic hand eczema, a sensory neuropathy treatment, and a knee osteoarthritis treatment5. The eczema treatment has reached phase 3, the last stage of testing before submission to regulatory authorities.