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Formation Bio

AI-native pharma — accelerating drug development
Biotech 📍 New York, NY Founded 2016
Current Valuation
$1.7B
as of 2024
UNICORN
Formation Bio (formerly TrialSpark) is an AI-native pharma company that in-licenses drug assets and uses AI plus in-house development to run trials faster and cheaper.

Company Profile

CEO
Benjamine Liu
Founded
2016
HQ
New York, NY
IPO Status
private

Fundraising Status

private

Secondary Market

Implied price / share
$2.61
Last round price / share
$8.18
vs last round
-68.1%
Open interest
2
Last round price vs secondary price
Last round vs current secondary price per share$8.18Last round$2.61Current
Secondary price return by period
Secondary market period returns3-month-35.2%6-month-36.5%1-year-42.0%All-time-82.6%
Implied per-share price from private secondary transactions, as of Jun 2026. This is a point estimate, not a quote — the feed carries no bid, ask or spread, and a secondary print is evidence of what someone paid on that date rather than a live market. Compare across every tracked name →

Founders & Key People

Benjamine Liu

Products

  • AI-native drug development platform

Competitors

Eikon Therapeutics · Recursion (RXRX) · Insitro
BiotechAI Drug DevelopmentPharma
Private-company numbers are not real-time. Reflects publicly disclosed valuations from press releases, news reports, and tender offers as of 2024. Refreshed quarterly.