About
Formation Bio (formerly TrialSpark), founded in 2013 in New York, partners with pharmaceutical companies to develop drugs more effectively using its AI platform, and has received backing from OpenAI CEO Sam Altman.
Full tier & rationale — an SVTR Intelligence benefit
Capital graph
Company· 12
Investor· 8
Founders / team· 1
Funding history
- 2024-06Series D+$372M
Investors · FPV Ventures, Thrive Capital, Emerson Collective, SV Angel Growth, SV Angel, Andreessen Horowitz, Sequoia Capital, SanofiSource · SVTR Weekly #059
Comparable companies· by market
This company
BusinessLatest roundTotal raisedDate- Formation Bio
Its business is partnering with pharmaceutical companies to develop drugs more efficiently using its AI platform.
Series D+ · $372M · 2024-06
$372M
United States
BusinessLatest roundTotal raisedDate- Iambic Therapeutics
Uses AI to predict protein-ligand structures and generate molecular designs to discover new drugs
IPO · $462M · 2026-09
$462M - Pathos AI
Uses artificial intelligence and robotic automation to accelerate the development of targeted therapies for solid tumors
Series D+ · $602M · 2026-10 · Valuation $3.0B
$602MValuation $3.0B - Xaira Therapeutics
Integrated biotechnology applications involving artificial intelligence across the entire drug discovery and development process
Undisclosed · $1.0B · 2024-04
$1.0B
China
BusinessLatest roundTotal raisedDate- Insilico Medicine
AI drug discovery company that uses generative models for target discovery and molecular design, and has advanced multiple drug candidates into clinical trials
Series D+ · $210M · 2025-03
$210M - Syneron Bio
AI-driven synthetic peptide drug developer focused on a pipeline of next-generation synthetic peptide and protein drugs
Series B · $280M · 2026-04
$280M - Deep Pharma
AI-driven drug discovery and clinical development platform
Series D+ · $200M · 2026-03
$200M
Europe
BusinessLatest roundTotal raisedDate- Healx
AI to discover and develop treatments for rare diseases
Undisclosed · $47M · 2024-08
$47M - CardiaTec
Uses AI and large-scale multi-omics data to discover new therapies for cardiovascular disease
Seed · $7M · 2024-09
$7M - Isomorphic Labs
AI-driven drug design platform (IsoDDE engine): uses AlphaFold-based technology to predict protein structures and design new drug molecules; builds its own therapeutic pipeline and conducts joint R&D with large pharmaceutical companies
Series B · $2.7B · 2026-05
$2.7B
Other / unspecified
BusinessLatest roundTotal raisedDate- Mana.bio
Uses AI to design lipid nanoparticles for delivering mRNA to specific parts of the body
Seed · $20M · 2023-10
$20M - Altis Labs
AI imaging biomarker platform across solid tumor types and therapeutic areas
Series A · $31M · 2026-09
$31M - Galux
AI plus physics-based protein/antibody design platform (GaluxDesign) for drug discovery
Series B · $58M · 2026-02
$58M
Confirmed rounds only. Matched on subsector, sector, stage and funding scale — each verifiable on the company profiles.
Investors that may fit
General Catalyst
40 Life Sciences deals in the last 24 months · 7 at a nearby stage · 36 in NYC Metro
Request intro →Y Combinator
38 Life Sciences deals in the last 24 months · 3 at a nearby stage · 31 in NYC Metro
Request intro →Khosla Ventures
21 Life Sciences deals in the last 24 months · 6 at a nearby stage · 20 in NYC Metro
Request intro →Lightspeed
17 Life Sciences deals in the last 24 months · 5 at a nearby stage · 15 in NYC Metro
Request intro →Lux Capital
15 Life Sciences deals in the last 24 months · 3 at a nearby stage · 15 in NYC Metro
Request intro →8VC
14 Life Sciences deals in the last 24 months · 4 at a nearby stage · 14 in NYC Metro
Request intro →Ranked by each firm’s deals in this sector over the last 24 months, weighted by nearby stage and shared geography. Indicative only — no rating judgment.