Michael Ehlers joins Formation Bio to lead R&D; Black Diamond co-founder dies at 67
Michael Ehlers joins Formation Bio to lead R&D; Black Diamond co-founder dies at 67.
Formation Bio
Private
Formation Bio is an AI-native drug development company building a clinical-stage pipeline through in-licensing and asset acquisition, with a focus on using technology and AI to accelerate clinical trial execution. In early 2026, the company launched a new subsidiary, Kenmare Bio, to develop a miR-124 inhibitor licensed from a Chinese partner for inflammatory diseases.
Company Info
Sector:AI Drug Discovery / TechBio
Headquarters:New York, New York, USA
Founded:2016
Website:www.formation.bio/
Funding Round:Series C (2024) and ongoing growth rounds
Total Funding:$600M+
Funding & Investor Relations
Notable Investors
- Founders Fund
- Sequoia Capital
- Thrive Capital
- General Catalyst
- Khosla Ventures
- Lachy Groom
- SVB Capital
IPO Outlook / Plans
None publicly disclosed; private AI-native drug developer focused on in-licensing and clinical development.
Upcoming Milestones & Key Dates
2026
Clinical Trial
FHND5032 IND-enabling studies and Phase 1 entry
Mid-2026
Business Development
Additional pipeline asset in-licensing announcements
Clinical Development Pipeline
FHND5032 (via Kenmare Bio)
Target: miR-124 inhibitor (licensed from Chia Tai Feng Hai)Pipeline programs (multiple)
Target: Various (in-licensed and proprietary programs)Recent News
Sanofi, OpenAI, and Formation Bio Partner to Accelerate Drug Development
A first-of-its-kind collaboration to build AI-powered software and custom applications, aiming to bring new medicines to patients more efficiently by leveraging OpenAI's technology and Formation Bio's clinical platform.
Leadership Team
Careers & Job Openings