Formation goes all in on AI, wins giant series D investment
AI-focused start-up Formation Bio has raised $372 million in a series D financing.
The round was led by a16z, with significant participation from Sanofi (Nasdaq: SNY) as well as Sequoia, Thrive, Emerson Collective, and others.
Scott Kupor, managing partner at a16z, and Alfred Lin, partner at Sequoia, will join the board of directors at the firm, which leverages advances in artificial intelligence to enhance drug development efficiency.
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