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Salary: USD 177,500 - 222,000 / annual
Formation Bio is a tech and AI-driven pharmaceutical company founded in 2016 (originally TrialSpark Inc.) that accelerates drug development through advanced technology platforms and efficient clinical trial processes. The company partners with and acquires drug candidates from pharma companies, research organizations, and biotechs to develop programs past clinical proof of concept. Formation Bio is backed by leading investors including a16z, Sequoia, Sanofi, Thrive Capital, and others.
The Associate Director of Business Development, Strategic Sourcing, will play a key role in evaluating and assessing early-stage assets and opportunities for Formation Bio's business development pipeline. This is a highly cross-functional role that bridges scientific evaluation with commercial strategy.
Key Responsibilities:
- Support deal-by-deal opportunity assessment teams from asset identification through transaction close
- Collaborate with the BD team to identify target areas for outreach, focusing on strategic alignment with Formation Bio's goals
- Maximize activity and ensure high-quality support and diligence in strategic asset growth across therapeutic areas and modalities
- Evaluate market potential and risk-based assessments of pipeline asset opportunities, assessing upside and engaging with the broader diligence team to ensure strategic fit
- Work cross-functionally with R&D, tech platform, and commercial teams in an AI-native drug development environment
The ideal candidate combines a strong scientific background with business acumen and experience in asset evaluation, venture investing, or business development. You will evaluate assets that would benefit from Formation Bio's tech-enabled development capabilities and build relationships across the biotech and pharmaceutical industries.
Formation Bio prioritizes hiring in the New York City and Boston metro areas with a hybrid model requiring 3 days per week in office. Applicants from the Research Triangle (NC) and San Francisco Bay Area may also be considered.
Requirements:
- PhD in biological science or MD with laboratory research experience strongly preferred
- 1-3 years of post-degree experience, combining scientific and business expertise
- Prior experience in biotech or pharmaceutical business development (search & evaluation), venture capital investing, or life sciences consulting highly preferable
- Ability to build strong relationships within the biotech and pharmaceutical industries, leveraging existing contacts where applicable
- Enthusiasm for networking, relationship building, and externally-facing activities
- Outgoing, motivated, and creative approach to business development
- Curiosity and insight around the role of AI in drug development, clinical trials, and business development
