Formation Bio announced a $600M fund it will use to acquire 10–15 drug programs over the next 3–5 years - it is a step in its plan to make drug development more efficient and become 'the next pharma'

Co-Founder and CEO Ben Liu describes the fund, and explains why Formation chose this structure rather than doing an equity raise. He also explains Formation's approach to drug development, the types of assets it likes to look for, why a smaller company might be more nimble than larger pharmas today, and the Formation's lofty long-term ambitions.

https://vimeo.com/1246420264?share=copy&fl=sv&fe=ci