Formation Bio secures $372m funds for AI-driven drug platform [Yahoo! Finance]
Sanofi - American Depositary Shares (SNY)
US:NYSE Investor Relations:
sanofi.com/en/investors
Company Research
Source: Yahoo! Finance
Spearheaded by venture capital firm a16z, the investment round also saw participation from Sanofi. Existing investors Sequoia, the Emerson Collective, Thrive and Lachy Groom also took part. New investors, including SV Angel Growth and FPV Ventures, joined the round, which represents a substantial increase from the company's Series C valuation. a16z managing partner Scott Kupor and Sequoia partner Alfred Lin will join the board of directors of Formation Bio. Established in 2016 as TrialSpark, Formation Bio uses technology and AI to streamline drug development. Its technology platforms and processes aim to expedite all aspects of drug development and clinical trials. Formation Bio works by partnering with, acquiring or in-licensing drugs from biotech and pharma companies, advancing these programmes beyond clinical proof of concept. The newly acquired funds are earmarked for two key objectives: the procurement and in-licensing of candidate drugs and the enhancement of thei
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SNY
Sec Filings
- 6/28/24 - Form 11-K
- 6/28/24 - Form 11-K
- 6/11/24 - Form 6-K
- SNY's page on the SEC website