Formation Bio (previously known as TrialSpark) is a clinical trial technology company focusing on connecting research sites with new studies and clinical trials via its platform solution. The company claims that its platform can reduce the time between selection and activation to 1-2 weeks in total.
In addition to supporting research sites, Formation Bio also connects with doctors and patients, providing a holistic solution for clinical trials. In terms of business growth, the company is exploring opportunities in the drug development space.
Key customers and partnerships
The company’s pharmaceutical partners include Novartis, Pfizer, Sanofi, and Aditum Bio.
Funding and fInancials
The company raised USD 156 million in Series C funding in October 2021 led by Sam Lachman and Lachy Groom. The proceeds are to be used for the business diversification into pharmaceutical development, including the acquisition of promising drug candidates.
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