Associate Director, Business Development - Search & Evaluation

formationbio; Boston (MA); Hybrid; USD 178,000 - 222,000; Full time

Benefits offered by this job

Equity

Comprehensive benefits

Generous perks

Job summary

Formation Bio is seeking an Associate Director of Business Development, Strategic Sourcing to evaluate early-stage assets and guide strategic fit for the company. This cross-functional role partners with the BD, R&D, Tech and Leadership teams to grow the asset portfolio.

The ideal candidate will have a PhD in biological science or MD with lab experience, 1–3 years post-degree, and a mix of scientific and business expertise, including biotech BD, search & evaluation, venture, or life sciences

Qualifications

• The candidate will have a strong scientific background paired with business acumen.
• Experience in search and evaluation, venture, or business development is preferred.
• Ability to build relationships across biotech and pharmaceutical industries.

Responsibilities

• Supporting deal-by-deal opportunity assessment from asset identification to close.
• Collaborating with the BD team to identify outreach areas and strategic alignment.
• Maximizing activity with high-quality support and diligence in asset growth.
• Evaluating market potential and risk of pipeline assets for strategic fit.
• Working cross-functionally with R&D, tech platform, and commercial teams.

Skills

Scientific background

Business acumen

Relationship building

Networking

AI in drug development

Education

PhD in Biological Science

MD with laboratory experience

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, 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

About the Position

The Associate Director of Business Development, Strategic Sourcing, will play a key role in evaluating and assessing early-stage assets and opportunities for Formation Bio's business development pipeline. This role will involve supporting and guiding asset opportunity evaluation along with potential strategic fit for the Formation Bio. This is a highly cross-functional role, collaborating closely with the BD team, R&D, Commercial, Tech and Leadership to continue growing Formation's asset portfolio.

Responsibilities

• Supporting deal-by-deal opportunity assessment teams from asset identification to transaction close.
• Collaborating with the BD team to identify target areas for outreach, focusing on strategic alignment with Formation Bio's goals.
• Maximizing activity and ensuring high-quality support and diligence in strategic asset growth therapeutic areas and modalities.
• Evaluating market potential and risk based assessments of pipeline asset opportunities, assessing upside and engaging with the broader diligence team to ensure strategic fit.
• Working cross-functionally with R&D, tech platform, and commercial teams in an AI native drug development company.

About You

• The ideal candidate will have a strong scientific background paired with business acumen, ideally with experience in search and evaluation, venture, or business development. This role requires someone who can evaluate assets that would benefit from Formation Bio's tech-enabled development capabilities and build relationships across the biotech and pharmaceutical industries.
• PhD in biological science or MD with laboratory research experience strongly preferred.
• 1-3 years of post-degree experience, with a combination of scientific and business expertise.
• Prior experience of biotech or pharmaceutical business development (search & evaluation), venture capital investing, or life sciences consulting is highly preferable.
• Ability to build strong relationships within the biotech and pharmaceutical industries, leveraging existing contacts where applicable.
• Enthusiastic about networking, relationship building, and externally-facing activities.
• An outgoing, motivated, and creative approach to business development.
• Curiosity and insight around the role of AI in drug development, clinical trials, and business development.

Where We Hire

Formation Bio is prioritizing hiring in key hubs, primarily the New York City and Boston metro areas, with a hybrid model requiring 3 days per week in office. Applicants from the Research Triangle (NC) and San Francisco Bay Area may also be considered.

Total Compensation Range

$177,500 - $222,000

Compensation Individual compensation is determined by several factors, including role scope, geographic location, and skills & experience. Your offer will reflect where you fall within the range based on these considerations. In addition to base salary, we offer equity, comprehensive benefits, and generous perks.

Equal Opportunity

Formation Bio is committed to building a diverse and inclusive team. We are an equal opportunity employer and welcome candidates from all backgrounds. All qualified applicants will receive considerat