Formation Bio
Formation Bio (formerly TrialSpark) is a New York pharmaceutical company that acquires and in-licenses clinical-stage drug candidates, many of them stalled or shelved by their original owners, and uses AI and centralised clinical operations to develop them faster before licensing them to large drugmakers.
Analytics date: 09.11.2026
Basic information
Head office
16 East 34th Street, Floor 10, New York, NY 10016, United StatesHead officeGeography of business
United States of AmericaGeography of businessDate of the last round
Last round 06/2024Date of the last roundTotal funds raised
$615.8M+Total funds raisedPrice per share
$8.18Price per sharePrice per share. Based on the latest known transaction. It is not an offer or investment recommendation.
Analytics date: 09.11.2026
About Formation Bio
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Basic Information
Logo |  |
Legal name | TrialSpark Inc. (trades as Formation Bio) |
Industry | BioTech, AI Utilization Software |
Specialization | Drug Discovery, Healthcare AI |
Nature of ownership | Private |
Last round valuation | $1.5B |
Funds raised | $615.8M+ |
Key shareholders | Andreessen Horowitz, Sequoia Capital |
Founded | 2016 |
Primary office | 16 East 34th Street, Floor 10, New York, NY 10016, United States |
Geographical presence | United States of America |
Employees * est. by Pitchbook | 150 |
Founder | Benjamine Liu, Linhao Zhang |
Key persons | Benjamine Liu (Co-founder and Chief Executive Officer), Linhao Zhang (Co-founder and Chief Technology Officer) |
Awards | Fierce 15 (Fierce Biotech), 2025 |