About the Position The Director of Business Development, Strategic Sourcing, will play a key role in identifying, evaluating, and managing early-stage assets and opportunities for Formation Bio's business development pipeline. This role will involve guiding potential opportunities from asset identification through to transaction closing, working closely with the business development team to identify outreach areas and drive deal flow within designated outreach regions.
Responsibilities- Leading deal-by-deal opportunity/asset 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
- Owning and managing one or more designated business development outreach areas (e.g., big pharma, biotech companies, designated therapeutics areas)
- Maximizing activity and ensuring high-quality deal flow in assigned outreach areas, developing a steady stream of opportunities
- Conducting initial triage of opportunities, evaluating potential deals before engaging the broader diligence team to ensure strategic fit
- Working cross-functionally with R&D, tech platform, and commercial teams to ensure smooth handoffs and successful transitions in the diligence process
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 identify 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.
- 3-7 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.
- Strong network within the biotech and pharmaceutical industries, with the ability to leverage contacts for sourcing early-stage assets; 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
This role offers the opportunity to help build the pharma company of the future, combining strategic asset acquisition with tech-enabled development capabilities to bring new treatments to patients faster and more efficiently.
Total Compensation Range: $235,000 - $307,000
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. If the posted range doesn't match your expectations, we still encourage you to apply!
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. Please apply only if you reside in these locations or are willing to relocate
