What are the responsibilities and job description for the VP, Search and Evaluation position at Formation Bio?

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 VP of Search and Evaluation will lead Formation Bio's search and evaluation efforts, overseeing all aspects of deal sourcing, evaluation, and diligence. This role is responsible for setting the strategy for in-licensing opportunities, including therapeutic area (TA) focus, modality, and stage of development. The successful candidate will open doors across the biotech and pharmaceutical industry, ensuring Formation Bio's search team is well-connected to identify innovative opportunities.

Key responsibilities include :

Overseeing the search and evaluation process to identify potential deals for in-licensing, including scouting and assessing external innovation

Guiding in-licensing strategy, including therapeutic area focus, modality, and stage of drug development to align with Formation Bio's goals

Building and maintaining relationships with academic institutions, biotech, and large pharma partners to identify and advance potential opportunities

Leading and setting the diligence process, including defining scope, parameters, and evaluation criteria

Collaborating closely with internal stakeholders (scientific, commercial, legal, etc.) to ensure cross-functional input during diligence and decision-making

Delivering fully vetted, high-potential deals to the transactions team for negotiation and execution

Representing Formation Bio externally at conferences, industry events, and in key partner discussions to strengthen the company's visibility and deal-making network

Staying ahead of emerging trends in drug development, scientific breakthroughs, and partnership models to position Formation Bio as a leader in deal execution and innovation

Leading, mentoring, and managing the Search and Evaluation team,

Fostering a high-performance culture, ensuring alignment with organizational goals, and providing strategic guidance to team members in scouting, evaluating, and advancing potential opportunities

About You

The ideal candidate will be a senior "buy side" leader with significant drug development expertise and a track record of success in search and evaluation. This individual should have a mix of large pharma and strong biotech or small company leadership experience, with an ability to navigate complex partnerships and drive successful outcomes.

Relevant Experience :

PhD preferred (in a relevant field such as biology, chemistry, pharmacology, etc.)

Senior industry leader with 10 years of experience in drug acquisition and deal-making

A proven track record of identifying and successfully in-licensing assets that have progressed to clinical development or approval

Extensive exposure to the drug development process from discovery through to clinical development, including knowledge of regulatory, scientific, and commercial aspects of drug development

Deep relationships across the pharmaceutical and biotech industries, with a strong network to identify innovative partnership opportunities

Leadership experience in a biotech or smaller company, with a deep understanding of the unique challenges and opportunities in these environments

Strategic mindset with the ability to think long-term and align in-licensing activities with the company's overall business goals

Salary ranges are informed in part by geographic location, in addition to other factors.

The target salary range for this role : $366,000 - $456,000. The ranges provided above include base salary only. In addition to base salary, we offer equity, generous perks, location flexibility, and comprehensive benefits.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.

Salary : $366,000 - $456,000

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