Formation Biologics closes HBM-led Series B financing
Formation Biologics Inc, a biopharmaceutical company based in Austin, Texas and Montréal, has raised an undisclosed Series B financing. The round was led by European investor HBM Healthcare Investments. Founded in 2011 as a spin out of YM BioSciences Inc, Formation is developing biotherapeutics for life-threatening cancers and orphan diseases. Led by President and CEO Ilia Tikhomirov, the company will use the funds raised to support development of its two lead programs, AVID100 and AVID200, through clinical validation. Formation is also backed by Canadian venture capital firm Lumira Capital and seed investor MaRS Innovation.
15 May 2017•2 mins read
