Senior Director of Business Development Strategy, Formation Bio
$300-372k
+ Equity + Competitive Compensaion
End-to-end medical trial solutions
Open for applications
End-to-end medical trial solutions
101-200 employees
Open for applications
$300-372k
+ Equity + Competitive Compensaion
101-200 employees
Company mission
To bring new treatments to patients faster and more efficiently.
Role
Who you are
- The ideal candidate for this role will have significant experience in strategy consulting, business development, banking, venture capital, or in-house corporate strategy, coupled with hands-on operating experience in the biotech or pharmaceutical industry
- You should have a proven track record of leading strategic efforts and working cross-functionally to drive business success
- Advanced degree (PhD, MBA, MD, or equivalent)
- Significant experience in strategy plus business development, M&A or investing within consulting, investment banking, venture capital, or an internal corporate strategy team
- Significant hands-on operating experience in the biotech or pharmaceutical industry, with exposure to strategy, business development, or operations
- Proven ability to develop market maps, technology roadmaps, or other strategic frameworks to guide corporate decision-making
- Strong understanding of the biotech/pharma landscape, including market trends, emerging technologies, and deal-making structures
- Excellent collaboration skills with experience working cross-functionally with teams like Business Development, Search & Evaluation, and Technology
- Experience managing portfolios, conducting diligence, and identifying strategic partnerships or alliances
- Demonstrated interest and expertise in the application of AI/technology in life sciences
What the job involves
- The Senior Director of Business Development Strategy will play a pivotal role in driving Formation Bio’s strategic efforts across the Business Development function
- An independent operator acting as the right-hand person to the Chief Business Officer (CBO), this individual will lead the identification of high-value opportunity areas, collaborate with cross-functional leaders, and drive the creation of market and technology roadmaps
- This role will also be instrumental in helping to develop the company’s AI capabilities for strategic planning, diligence and managing existing portfolio assets
- Acting as the right-hand to the Chief Business Officer (CBO), supporting key strategic initiatives across the Business Development function
- Collaborating with the Head of Search & Evaluation to identify promising opportunity areas and themes
- Leading market mapping and competitive landscaping to help guide strategic investments and focus areas
- Partnering with the technology team to build and enhance AI-powered diligence capabilities for evaluating opportunities
- Managing and monitoring the existing portfolio of deals and assets, providing regular updates and refining opportunity areas as needed
- Supporting creative deal structures and alliance formation, both inbound and outbound, to drive strategic partnerships and collaborations
- Leading the BD team's efforts in branding and visibility, including representing Formation Bio at conferences and industry events to promote partnerships and raise the company's profile
- Staying ahead of industry trends and ensuring that Formation Bio’s strategy remains aligned with long-term goals and emerging opportunities
Our take
Clinical drug trials are lengthy and expensive, delaying the supply of vital new drugs to patients and costing lives. For Formation Bio, this is an efficiency issue - one which it hopes to solve with its end-to-end automation solution.
According to the company, its approach has teams running medical trials twice as fast and at half the cost. It's worked so well, in fact, that Formation Bio is looking to take drug development in-house.
Now a Unicorn, the company has secured heavyweights like Pfizer, Sanofi, Novartis and 23andMe as partners. Precisely how it will fare in the Big Pharma ecosystem remains to be seen, but the promise of cheaper drugs and faster innovation is certainly causing a stir in a market that has historically been resistant to both.
Kirsty
Company Specialist at Welcome to the Jungle
Insights
30% employee growth in 12 months
Company
Funding (last 2 of 3 rounds)
Jun 2024
$372m
SERIES D
Sep 2021
$156m
SERIES C
Total funding: $530.3m
Company HQ
Midtown South, New York, NY
Leadership
Benjamine Liu
(CEO)Worked as a computational biologist at various Neurology departments, following a D.Phil in computational Biology and Psychiatry at Oxford. They are also an Advisor at Harvard Business School.
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