Director of Business Development

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. 

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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

The Director will identify drug assets for Formation Bio to in-license or acquire in, and lead the research and evaluation of those specific opportunities. This position is critically important to building the company and this team will help to set the pace of growth for the organization.  

Responsibilities

• In coordination with the executive leadership of Formation Bio, lead the assessment of science, clinical development plans, regulatory outlook, commercial opportunities, intellectual property, competitive landscape and valuation analysis to help determine the overall attractiveness of potential investment and asset licensing opportunities
• Conduct due diligence calls with physicians, scientists, and other subject matter experts (consultants) and build therapeutic market and financial models to support investment recommendations
• Prepare and present investment materials and supporting documentation associated with potential investments
• Attend scientific, business development and broker conferences to identify investment and asset licensing opportunities
• Lead idea generation and develop thematic investment strategies to identify areas where Formation Bio can unlock additional value using our clinical development engine
• Assist in operations and other ad hoc tasks to support portfolio management
• Mentor junior team members

About You

• Either an MBA or graduate degree in biological sciences
• 4+ years non-academic work experience in analyzing biotech companies – ideally in business development roles at pharmaceutical companies or on the buy-side at a venture capital or private investment firm 
• Experience with licensing transactions, term sheet negotiations, and partnerships across the biopharma industry
• Proficiency with financial statement analysis, accounting and financial modeling
• Experience working with various databases, libraries and other data sources to assist in researching companies, clinical trials, competitive positioning, commercial opportunities and other areas of interest is preferred
• Strong track record in sourcing, negotiating and closing transactions, with a high degree of diplomacy and empathic awareness
• Advanced ability creating decks to correspond meeting

We offer competitive compensation because we want to hire the best people and reward them for their contributions to our mission. We pay all employees competitively relative to the New York City market, regardless of their location. In compliance with NYC’s pay transparency law and in pursuit of pay equity and fairness, we publish salary ranges for all open roles at Formation Bio. The target salary range for this role is $195,00 - $250,000.

On top of base salary, we also offer equity, generous perks, location flexibility, and comprehensive benefits – learn more about them and our compensation philosophy here.

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

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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.