Senior Director, Business Development Strategy

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:

• Our Vision for AI in Pharma
• Our Current Drug Portfolio
• Our Technology & Platform

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 Senior Director of Business Development Strategy will play a pivotal role in driving Formation Bio’s strategic efforts across the Business Development function. An independent operator acting as the right-hand person to the Chief Business Officer (CBO), this individual will lead the identification of high-value opportunity areas, collaborate with cross-functional leaders, and drive the creation of market and technology roadmaps. This role will also be instrumental in helping to develop the company’s AI capabilities for strategic planning, diligence and managing existing portfolio assets.

Key responsibilities include:

• Acting as the right-hand to the Chief Business Officer (CBO), supporting key strategic initiatives across the Business Development function
• Collaborating with the Head of Search & Evaluation to identify promising opportunity areas and themes
• Leading market mapping and competitive landscaping to help guide strategic investments and focus areas
• Partnering with the technology team to build and enhance AI-powered diligence capabilities for evaluating opportunities
• Managing and monitoring the existing portfolio of deals and assets, providing regular updates and refining opportunity areas as needed
• Supporting creative deal structures and alliance formation, both inbound and outbound, to drive strategic partnerships and collaborations
• Leading the BD team's efforts in branding and visibility, including representing Formation Bio at conferences and industry events to promote partnerships and raise the company's profile
• Staying ahead of industry trends and ensuring that Formation Bio’s strategy remains aligned with long-term goals and emerging opportunities

About You

The ideal candidate for this role will have significant experience in strategy consulting, business development, banking, venture capital, or in-house corporate strategy, coupled with hands-on operating experience in the biotech or pharmaceutical industry. You should have a proven track record of leading strategic efforts and working cross-functionally to drive business success.

Relevant Experience:

• Advanced degree (PhD, MBA, MD, or equivalent)
• Significant experience in strategy plus business development, M&A or investing within consulting, investment banking, venture capital, or an internal corporate strategy team
• Significant hands-on operating experience in the biotech or pharmaceutical industry, with exposure to strategy, business development, or operations
• Proven ability to develop market maps, technology roadmaps, or other strategic frameworks to guide corporate decision-making
• Strong understanding of the biotech/pharma landscape, including market trends, emerging technologies, and deal-making structures
• Excellent collaboration skills with experience working cross-functionally with teams like Business Development, Search & Evaluation, and Technology
• Experience managing portfolios, conducting diligence, and identifying strategic partnerships or alliances
• Demonstrated interest and expertise in the application of AI/technology in life sciences

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: $292,000 - $400,000.

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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