AI biotech Formation Bio launches $600M fund to buy stalled drugs

AI drug developer Formation Bio has created a $600 million fund to buy or license drugs that have stalled in development. The startup argues the real bottleneck in pharma is clinical trials, not discovery, and aims to prove it.

• The $600M fund will buy or license stalled drug candidates
• Formation Bio bets on clinical trials rather than molecule discovery
• The company uses AI to speed up clinical development