TrialSpark
Formation Bio
New York, United States · Founded 2016 · $598.0M raised
- Headquarters
- New York, New York
- Employees
- 51–200
- Founded
- 2016
- Business Model
- B2B
- Website
- trialspark.com
- Total Funding
- $598.0M
- Last Round
- $156.0M Series CJan 2024
- Rounds
- 4
Totals include recorded grants and other qualifying funding, not just equity. What counts toward funding.
About
TrialSpark was a New York City-based clinical trial technology company founded in 2016 by Benjamine Liu, Linhao Zhang, and Kit Dobyns with the goal of building a technology-driven pharma company differentiated by radically more efficient drug development. The company built proprietary technology platforms and processes to optimize critical aspects of clinical drug development including site operations, patient recruitment, data management, and regulatory workflows. TrialSpark operated a network of clinical trial sites and developed software infrastructure to modernize trial execution. The company raised approximately $226 million in venture funding from investors including GV and a16z. In December 2023, TrialSpark rebranded as Formation Bio, reflecting its evolved strategy of partnering with, acquiring, or in-licensing late-stage drug assets from pharma companies to develop them using its AI-powered platform.
Summary
TrialSpark is a Biotech company based in New York, United States, founded in 2016. It has raised $598.0M in total across 4 rounds, most recently a $156.0M Series C round in Jan 2024. Investors include Sequoia Capital, Thrive Capital and Sam Altman.
Tech & App Stack
9 technologies & apps tracked
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Funding History
2024 (est.)
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Funding: Series B through Series C. Amounts, valuations, and investors where available.
Investors
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