AI-Native Formation Bio Licenses Monoclonal Antibody After $372M Raise in 2024
Formation Bio has licensed global rights to a first-in-class anti-CD226 monoclonal antibody from IMIDomics, aiming to expand its immunology pipeline with a Phase 1–ready program for autoimmune diseases. The program’s initial target indication is ulcerative colitis.
The licensed antibody targets CD226 (also known as DNAM-1), an immune checkpoint involved in both innate and adaptive immune responses. By blocking CD226 interactions with its ligands CD112 and CD155, the antibody is designed to reduce immune overactivation in patients who are underserved by current treatments. The IND-cleared program was supported by longitudinal clinical data from IMIDomics’ Immune Mediated Inflammatory Diseases Consortium in Spain.
Under the deal terms, IMIDomics receives an upfront payment, potential development and commercial milestones, royalties on sales, and equity in a newly formed Formation Bio subsidiary, Riverview Bio. The program joins Libertas Bio and Highline Bio in Formation’s portfolio of asset-centric companies.
Formation Bio, formerly TrialSpark, operates an AI-native drug development model that integrates AI across trial design, operations, and asset sourcing. The company raised a $372M Series D in 2024 led by a16z and Sanofi, and partners with biopharma to develop deprioritized or in-licensed assets beyond proof of concept. Its model combines clinical-stage asset acquisition with in-house development, uniting pharma and tech talent to apply proprietary AI and operational platforms for what it describes as "hyper-efficient drug development."
Topics: Startups & Deals
