Formation Bio Launches Fund With $600 Million in Capital Commitments

Formation Bio launched a drug development fund backed by $600 million in capital commitments, giving the drug developer dedicated financing to acquire or license programs and advance them toward clinical milestones. The company plans to acquire or license 10 to 15 programs over the next three to five years. It is targeting programs from pharmaceutical companies and biotechs that have not completed clinical development, with particular interest in Phase 1 and Phase 2 candidates. The strategy centers on advancing existing drug candidates rather than starting discovery from the beginning. Each selected program will be housed in a separate company.

Source: TokenPost