Associate Director, Business Development - Search & Evaluation
Formation Bio
Summary
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 role will involve supporting and guiding asset opportunity evaluation along with potential strategic fit for the Formation Bio. This is a highly cross-functional role, collaborating closely with the BD team, R&D, Commercial, Tech and Leadership to continue growing Formation’s asset portfolio.
Job description
About the Position
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 role will involve supporting and guiding asset opportunity evaluation along with potential strategic fit for the Formation Bio. This is a highly cross-functional role, collaborating closely with the BD team, R&D, Commercial, Tech and Leadership to continue growing Formation’s asset portfolio.
Responsibilities
- Supporting deal-by-deal opportunity assessment teams from asset identification to transaction close.
- Collaborating with the BD team to identify target areas for outreach, focusing on strategic alignment with Formation Bio's goals.
- Maximizing activity and ensuring high-quality support and diligence in strategic asset growth therapeutic areas and modalities.
- Evaluating market potential and risk based assessments of pipeline asset opportunities, assessing upside and engaging with the broader diligence team to ensure strategic fit.
- Working cross-functionally with R&D, tech platform, and commercial teams in an AI native drug development company.
About You
The ideal candidate will have a strong scientific background paired with business acumen, ideally with experience in search and evaluation, venture, or business development. This role requires someone who can evaluate assets that would benefit from Formation Bio's tech-enabled development capabilities and build relationships across the biotech and pharmaceutical industries.
- PhD in biological science or MD with laboratory research experience strongly preferred.
- 1-3 years of post-degree experience, with a combination of scientific and business expertise
- Prior experience of biotech or pharmaceutical business development (search & evaluation), venture capital investing, or life sciences consulting is highly preferable.
- Ability to build strong relationships within the biotech and pharmaceutical industries, leveraging existing contacts where applicable.
- Enthusiastic about networking, relationship building, and externally-facing activities
- An outgoing, motivated, and creative approach to business development
- Curiosity and insight around the role of AI in drug development, clinical trials, and business development
Requirements
- PhD in biological science or MD with laboratory research experience strongly preferred.
- 1-3 years of post-degree experience, with a combination of scientific and business expertise
- Prior experience of biotech or pharmaceutical business development (search & evaluation), venture capital investing, or life sciences consulting is highly preferable.
- Ability to build strong relationships within the biotech and pharmaceutical industries, leveraging existing contacts where applicable.
- Enthusiastic about networking, relationship building, and externally-facing activities
- An outgoing, motivated, and creative approach to business development
- Curiosity and insight around the role of AI in drug development, clinical trials, and business development
Benefits
- Equity
- Comprehensive benefits
- Generous perks
Company overview
Formation Bio is an AI-native pharmaceutical company revolutionizing drug development through technology-driven innovation. Founded in 2013 and headquartered in New York City with additional hubs in Boston, San Francisco Bay Area, and North Carolina's Research Triangle, the company focuses on acquiring clinical-stage drug assets from pharmaceutical and biotech companies to develop them faster and more efficiently. Formation Bio has built proprietary AI platforms that optimize critical aspects of clinical drug development, enabling more efficient trial design, faster trial completion, and higher quality trial data. The company's mission is to bring new treatments to patients faster by applying first-principles thinking and data-driven iteration to the traditionally slow and complex drug development process. With a team of 51-200 employees combining expertise from both technology and pharmaceutical backgrounds, Formation Bio has raised significant funding from prominent investors including Andreessen Horowitz, Sequoia Capital, and Thrive Capital. The company's innovative approach has earned recognition including the 2025 CNBC Disruptor 50 and 2025 Fierce 15 awards.