Job description
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
As Senior Director, Business Transactions, reporting to the Chief Business Officer, you will be responsible for leading deal structuring, negotiations, and execution across asset licensing, M&A, and venture financing. Given our hub-and-spoke model, this role offers a unique opportunity to lead a diverse range of transactions, from acquiring assets to structuring partnerships that fuel our portfolio’s growth. You will play a critical role in shaping Formation Bio’s business strategy, ensuring that transactions are strategically aligned, financially sound, and efficiently executed.
Responsibilities
- Lead Deal Structuring & Negotiation: Drive negotiations for asset licensing, M&A, and venture financing, ensuring optimal deal terms and strategic alignment.
- Strategic Business Partnerships: Collaborate closely with the Search & Evaluation team to assess opportunities and structure deals that maximize portfolio value.
- Term Sheet & Contract Execution: Lead the drafting, negotiation, and execution of term sheets and contracts, working alongside internal stakeholders and legal counsel.
- Financial & Risk Assessment: Conduct risk assessments and support financial due diligence to ensure transaction viability.
- Cross-functional Collaboration: Partner with finance, R&D, BD, and legal teams to streamline transaction processes and execution.
- Market & Competitive Analysis: Stay ahead of industry trends, competitor activity, and market dynamics to inform deal strategy.
- AI & Automation Integration: Work with the technology team to develop AI-powered tools that enhance efficiency and precision in transaction processes.
About You
- Extensive experience (10+ years) in deal structuring and negotiation within biotech or pharma, including licensing, M&A, and venture financing, including at least five years as primary negotiator on deals.
- Proven track record of leading complex transactions from inception to execution.
- Strong financial and strategic acumen with the ability to assess deal economics and risk.
- Deep understanding of legal frameworks governing biotech and pharma transactions.
- Experience collaborating with internal teams and external advisors, including legal, financial, and regulatory professionals.
- Excellent negotiation, communication, and relationship management skills.
- Proficiency and demonstrated interest in deploying AI to continuously transform the business.
- JD, MBA, or advanced degree in life sciences, finance, or a related field preferred.
Formation Bio is headquartered in New York City, with plans to build a larger team and presence in Boston. We are prioritizing hiring in these areas, with an expectation for NYC-based employees to work in the office at least two days per week. While our primary focus is on candidates in NYC (including the Tri-state Area) and Boston, we may consider remote candidates from specific geographies based on qualifications, skills, and business needs. We believe that in-person collaboration is essential for breaking down silos, fostering cross-functional teamwork, and embedding our company values into daily work. All employees located outside of the NYC Metro Area will be expected to travel to the NYC office at least four times per year for company events and team-specific meetings or activities.
Compensation:
Salary ranges are informed in part by geographic location, in addition to other factors. The target salary ranges for this role are:
- NYC Metro Area, Boston Metro Area, SF Bay Area: $300,000 - $372,000
- All Other Eligible Remote Locations: $285,000 - $353,000
The ranges provided above include base salary only. In addition to base salary, we offer equity, generous perks, hybrid flexibility, and comprehensive benefits.
If this range doesn’t match your expectations, please still apply because we may have something else for you.
** Eligible Remote Locations: Alabama (AL), Arizona (AZ), California (CA), Connecticut (CT), Florida (FL), Georgia (GA), Illinois (IL), Indiana (IN), Maryland (MD), Massachusetts (MA), New Hampshire (NH), New Jersey (NJ), North Carolina (NC), Ohio (OH), Pennsylvania (PA), South Carolina (SC), Texas (TX), Utah (UT), Virginia (VA), and Washington, D.C. (DC).
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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