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VP, Search and Evaluation

New York, NY; Boston, MA

About Formation Bio

Formation Bio is a tech and AI driven pharma company differentiated by radically more efficient drug development. 

Advancements in AI and drug discovery are creating more candidate drugs than the industry can progress because of the high cost and time of clinical trials. Recognizing that this development bottleneck may ultimately limit the number of new medicines that can reach patients, Formation Bio, founded in 2016 as TrialSpark Inc., has built technology platforms, processes, and capabilities to accelerate all aspects of drug development and clinical trials. Formation Bio partners, acquires, or in-licenses drugs from pharma companies, research organizations, and biotechs to develop programs past clinical proof of concept and beyond, ultimately helping to bring new medicines to patients. The company is backed by investors across pharma and tech, including a16z, Sequoia, Sanofi, Thrive Capital, Sam Altman, John Doerr, Spark Capital, SV Angel Growth, and others. 

You can read more at the following links:

At Formation Bio, our values are the driving force behind our mission to revolutionize the pharma industry. Every team and individual at the company shares these same values, and every team and individual plays a key part in our mission to bring new treatments to patients faster and more efficiently.

About the Position

The VP of Search and Evaluation will lead Formation Bio’s search and evaluation efforts, overseeing all aspects of deal sourcing, evaluation, and diligence. This role is responsible for setting the strategy for in-licensing opportunities, including therapeutic area (TA) focus, modality, and stage of development. The successful candidate will open doors across the biotech and pharmaceutical industry, ensuring Formation Bio’s search team is well-connected to identify innovative opportunities.

Key responsibilities include:

  • Overseeing the search and evaluation process to identify potential deals for in-licensing, including scouting and assessing external innovation
  • Guiding in-licensing strategy, including therapeutic area focus, modality, and stage of drug development to align with Formation Bio’s goals
  • Building and maintaining relationships with academic institutions, biotech, and large pharma partners to identify and advance potential opportunities
  • Leading and setting the diligence process, including defining scope, parameters, and evaluation criteria
  • Collaborating closely with internal stakeholders (scientific, commercial, legal, etc.) to ensure cross-functional input during diligence and decision-making
  • Delivering fully vetted, high-potential deals to the transactions team for negotiation and execution
  • Representing Formation Bio externally at conferences, industry events, and in key partner discussions to strengthen the company’s visibility and deal-making network
  • Staying ahead of emerging trends in drug development, scientific breakthroughs, and partnership models to position Formation Bio as a leader in deal execution and innovation
  • Leading, mentoring, and managing the Search and Evaluation team, 
  • Fostering a high-performance culture, ensuring alignment with organizational goals, and providing strategic guidance to team members in scouting, evaluating, and advancing potential opportunities

About You

The ideal candidate will be a senior “buy side” leader with significant drug development expertise and a track record of success in search and evaluation. This individual should have a mix of large pharma and strong biotech or small company leadership experience, with an ability to navigate complex partnerships and drive successful outcomes.

Relevant Experience:

  • PhD preferred (in a relevant field such as biology, chemistry, pharmacology, etc.)
  • Senior industry leader with 10+ years of experience in drug acquisition and deal-making
  • A proven track record of identifying and successfully in-licensing assets that have progressed to clinical development or approval
  • Extensive exposure to the drug development process from discovery through to clinical development, including knowledge of regulatory, scientific, and commercial aspects of drug development
  • Deep relationships across the pharmaceutical and biotech industries, with a strong network to identify innovative partnership opportunities
  • Leadership experience in a biotech or smaller company, with a deep understanding of the unique challenges and opportunities in these environments
  • Strategic mindset with the ability to think long-term and align in-licensing activities with the company’s overall business goals

Formation Bio is prioritizing hiring in key hubs, primarily the New York City and Boston metro areas, with additional growth in the Research Triangle (NC) and San Francisco Bay Area. Please only apply if you reside in these locations or are willing to relocate.

Compensation:

The target salary range for this role is: $415,000 - $550,000.

Salary ranges are informed by a number of factors including geographic location. The range provided includes base salary only. In addition to base salary, we offer equity, comprehensive benefits, generous perks, hybrid flexibility, and more. If this range doesn't match your expectations, please still apply because we may have something else for you.

You will receive consideration for employment without regard to race, color, religion, gender, gender identity or expression, sexual orientation, national origin, genetics, disability, age, or veteran status.

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