Business Development Associate

About Formation Bio

Formation Bio is a tech and AI driven pharma company differentiated by radically more efficient drug development. 

Advancements in AI and drug discovery are creating more candidate drugs than the industry can progress because of the high cost and time of clinical trials. Recognizing that this development bottleneck may ultimately limit the number of new medicines that can reach patients, Formation Bio, founded in 2016 as TrialSpark Inc., has built technology platforms, processes, and capabilities to accelerate all aspects of drug development and clinical trials. Formation Bio partners, acquires, or in-licenses drugs from pharma companies, research organizations, and biotechs to develop programs past clinical proof of concept and beyond, ultimately helping to bring new medicines to patients. The company is backed by investors across pharma and tech, including a16z, Sequoia, Sanofi, Thrive Capital, Sam Altman, John Doerr, Spark Capital, SV Angel Growth, and others. 

You can read more at the following links:

• Our Vision for AI in Pharma
• Our Current Drug Portfolio
• Our Technology & Platform

At Formation Bio, our values are the driving force behind our mission to revolutionize the pharma industry. Every team and individual at the company shares these same values, and every team and individual plays a key part in our mission to bring new treatments to patients faster and more efficiently.

About the Position

This role will play a critical part in supporting Formation Bio’s business development efforts. You will be responsible for building the scientific and clinical rationale and developing compelling investment cases for novel drug development ideas and acquisition targets. This role encompasses a wide range of activities, including sourcing, diligence, strategy, and transactions, as well as supporting the creation of new companies. By contributing across these areas, you will help drive Formation Bio’s growth targets and advance its mission to deliver transformative therapies.

Responsibilities

• Conduct in-depth financial and strategic analysis,  and market research and financial modeling to support investment recommendations
• Help inform the investment thesis through rigorous modeling of clinical development activities, potential commercial launch trajectories and revenue projections
• Help develop and grow a robust pipeline of targets by searching publicly available databases and online resources for novel drug development ideas
• Review, aggregate, analyze and monitor pharmaceutical development databases and market research reports to source and evaluate potential acquisition targets
• Construct persuasive investment theses in the form of PowerPoint presentations and supporting Excel models
• Communicate theses directly to senior management advocating for specific drug development projects
• Partner with senior members of the Business Development group to assist with all elements of transactions on new investments through closing, including due diligence, valuation, deal structuring, and negotiations
• Support broader strategic initiatives with the Formation Bio Leadership Team
• Contribute to strategic initiatives around applications of AI to asset sourcing and diligence

Skills & Qualifications

• Familiarity with the major business, scientific and medical aspects of drug development
• Strong analytical skills and attention to detail
• Experience writing research reports and/or presentations and delivering presentations that integrate multiple data sources
• Expertise in quantitative analysis and modeling
• Excellent written and verbal communication skills
• Ability to work cross-functionally within the organization (marketing, R&D, finance, etc.)

Experience & Education Requirements

2-4 years biotech/pharma industry experience, preferably in consulting or corporate strategy, possibly bankingBachelor’s degree required (preferably in science)

 

Compensation:

Salary ranges are informed in part by geographic location, in addition to other factors. The target salary ranges for this role are: 

• NYC Metro Area, Boston Metro Area, SF Bay Area: $80,000 - $105,000
• All Other Eligible Remote Locations: $70,000 - $95,000

The ranges provided above include base salary only. In addition to base salary, we offer equity, generous perks, hybrid flexibility, and comprehensive benefits.

If this range doesn’t match your expectations, please still apply because we may have something else for you.

**Eligible Remote Locations:
Alabama (AL), Arizona (AZ), California (CA), Connecticut (CT), Florida (FL), Georgia (GA), Illinois (IL), Indiana (IN), Maryland (MD), Massachusetts (MA), New Hampshire (NH), New Jersey (NJ), North Carolina (NC), Ohio (OH), Pennsylvania (PA), South Carolina (SC), Texas (TX), Utah (UT), Virginia (VA), and Washington, D.C. (DC).

You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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