Bio-IT World July 24, 2024
Formation Bio raises $372 million in Series D for their AI-driven drug discovery platform; Element Biosciences nets $277 million to launch combined sequencing and cyto-profiling platform; and more.
$372M: Series D for AI Expansion and Acquiring Candidate Drugs
Formation Bio raised $372 million in Series D funding, led by a16z with significant participation from Sanofi. Other investors include Sequoia, Thrive, Emerson Collective, Lachy Groom, SV Angel Growth, and FPV Ventures. The company takes an AI-enabled approach to drug discovery and clinical trials. The new capital will be used to acquire candidate drugs and expand their AI capabilities.
$277M: Series D for Genomics Innovator
Element Biosciences secured $277 million in Series D...
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