Business Development Operations Associate

Business Development Operations Associate
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:

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
This role keeps Business Development (BD) running and makes it run better. You will own the recurring workflows BD depends on, including project managing the end-to-end deal process across sourcing, diligence, negotiations, and contracting; the CRM, deal flow reporting, meeting cadence, the BD process, and the materials BD produces for leadership, the Board, and town halls. You will also propose and implement improvements, using AI wherever it can raise the speed and quality of BD's work. You will report to a Director, Business Development, and work closely with the broader BD team, Product, Tech, and BizOps.

Responsibilities

Own and maintain the BD process and its documentation as the team's work evolves

Propose and implement improvements to BD processes, tools, and workflows, with review from BD leadership for changes that affect the team, and track whether they work

Identify, test, and implement AI tools and automations that improve BD outcomes, and share what works with the team

Build and maintain reporting and dashboards on deal flow, pipeline stage, and team activity for BD leadership

Own the BD CRM, including data entry standards, upkeep, and data quality, and work with Tech and Product to improve its workflows

Coordinate agendas, materials, and follow-ups for standing, triage, and ad hoc BD meetings

Prepare first drafts of materials for BD leadership, the Board of Directors, quarterly town halls, and fund partners

Support cross-functional BD initiatives by tracking milestones, owners, and follow-through

Skills & Qualifications

Strong organization, attention to detail, and reliability on recurring deadlines

Proficiency with the Microsoft Office suite, including Excel and PowerPoint

An aggressive AI adopter who is eager to implement AI in ways that improve BD outcomes, and comfortable testing new tools and building automations

Ability to design, improve, and clearly document processes

Ability to manage competing requests and work cross-functionally with Product, Tech, BizOps, and R&D

Interest in biotech and pharma business development

Experience & Education Requirements

1-3 years of consulting, operations, or corporate strategy experience, preferably in the biotech/pharma industry; project management experience preferred

Bachelor's degree required, with strong focus in Biology or related scientific discipline preferred

Total Compensation Range: $106,000 - $132,500

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.

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.

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 consideration for employment without regard to race, color, creed, religion, national origin, ancestry, sex (including pregnancy, childbirth, breastfeeding, and related medical conditions), gender identity or expression, sexual orientation, age, disability, genetic information, marital status, military or veteran status, or any other characteristic protected by federal, state, or local law.

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