Loading organizations...
§ Private Profile · Watertown, MA, USA
Clinical-stage biopharmaceutical company developing small molecule drugs for rare hematologic diseases, cancers, and sickle cell disease.
Founded in 2007 by Steve Tregay and Nikolai Kley, FORMA Therapeutics is a clinical-stage biopharmaceutical company based in Watertown, Massachusetts, that discovers and develops small molecule drugs for rare hematologic diseases, cancers, and sickle cell disease. Operating with a workforce of 176 employees, the enterprise transitioned from a platform-based drug discovery model to a fully integrated therapeutics developer that generated $56 million in revenue. Prior to its acquisition by pharmaceutical leader Novo Nordisk, the organization secured $471.8 million in total venture capital and public funding. This financial backing included a $278 million initial public offering in June 2020 to support ongoing clinical trials and drug development. Under the leadership of chief executive officer Frank D. Lee, the firm advanced clinical pipelines targeting oncology and inflammatory conditions, highlighted by its FT-4202 program for sickle cell disease.
FORMA Therapeutics has raised $143.0M across 5 funding rounds.
FORMA Therapeutics has raised $143.0M in total across 5 funding rounds.
FORMA Therapeutics has raised $143.0M in total across 5 funding rounds.
FORMA Therapeutics's investors include Peter Kolchinsky, Cormorant Asset Management, Janus Henderson Investors, Samsara BioCapital, Wellington Management, Steve Hall, Bio*One Capital, Cubist Pharmaceuticals, Novartis.
FORMA Therapeutics has raised $143.0M across 5 funding rounds. Most recently, it raised $100.0M Series D in December 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Dec 19, 2019 | $100M Series D | Peter Kolchinsky | Cormorant Asset Management, Janus Henderson Investors, Samsara BioCapital, Wellington Management | Announced |
| Sep 13, 2012 | $10M Venture Round | — | — | Announced |
| Dec 1, 2009 | $3M Series B | Steve Hall | Bio*one Capital, Cubist Pharmaceuticals, Novartis | Announced |
| Nov 1, 2009 | $26M Series B | — | — | Announced |
| Apr 1, 2008 | $4M Series A | — | — | Announced |
Forma Therapeutics is a clinical-stage biopharmaceutical company developing novel small-molecule therapeutics for rare hematologic diseases like sickle cell disease (SCD) and beta-thalassemia, as well as cancers including metastatic castration-resistant prostate cancer (mCRPC) and myelodysplastic syndromes.[1][2][3] Its lead candidate, etavopivat (previously FT-4202), is a PKLR agonist in Phase 3 for SCD and Phase 2 for beta-thalassemia, targeting red blood cell health and vaso-occlusion to address unmet needs in hemoglobinopathies affecting ~100,000 U.S. patients with SCD.[2][3] The company serves patients with high unmet needs in these areas, solving problems like chronic transfusions and disease-modifying therapy gaps through differentiated mechanisms, with a streamlined pipeline post-IPO focusing on etavopivat and FT-7051 for mCRPC.[2][5] Growth momentum includes positive Phase 1 data, trial initiations in pediatrics and thalassemia, and significant funding like a $100M Series D in 2019, though it underwent portfolio refocus and acquisition dynamics by 2022.[3][4][5]
Forma Therapeutics was founded in 2007, initially building a drug discovery platform merging biology and chemistry for cancer targets like stem cells, metabolism, and epigenetics.[1][4] Backed early by Novartis' Option Fund ($4M Series A, 2008) and Lilly Ventures in a $28.5M Series B (2009) with Cubist (later Merck), it evolved from broad oncology to hematologic focus, raising a $100M Series D in 2019 led by RA Capital for candidates like FT-4202 (etavopivat) in SCD Phase 1/2 and olutasidenib for AML/gliomas.[4] Pivotal moments included 2021 IPO, positive etavopivat Phase 1 results showing multimodal benefits, and a 2022 strategic pivot under CEO Frank Lee—shuttering non-core assets (e.g., discovery platform sold to Flagship Pioneering, becoming Valo Health) to rally around SCD/thalassemia programs amid patient-centric initiatives like PSAs and $1M Formabridge grants.[3][5] This refocus followed years of expertise in drug discovery, positioning Forma for clinical advancement.[2]
Forma rides the wave of precision medicine in rare hematologic diseases and oncology, where gene therapies (e.g., Casgevy for SCD) face high costs/access barriers, creating demand for oral small molecules like etavopivat as more scalable disease-modifiers.[2][3] Timing aligns with rising SCD awareness (affecting underserved populations) and regulatory pushes for breakthroughs in hemoglobinopathies/thalassemia, bolstered by FDA programs like Breakthrough Therapy.[2] Market forces favor it: ~100K U.S. SCD patients with limited options, plus global thalassemia needs; Forma's refocus amid biotech funding winters demonstrates resilience, influencing ecosystems via patient advocacy (e.g., first national SCD PSA) and platform tech transfers (to Valo).[3][4][5] It exemplifies biopharma's shift to focused, patient-first models over broad platforms.
Next steps center on etavopivat readout milestones—Phase 3 SCD data, Phase 2 thalassemia results—and potential NDA filings, with FT-7051 advancing in mCRPC.[2][3] Trends like oral therapies overtaking infusions, combo regimens in oncology, and equity-focused SCD investments will shape its path, potentially via partnerships or acquisition (as hinted in leadership transitions).[5] Forma's influence may evolve from pipeline innovator to commercial leader in hemoglobinopathies, amplifying patient impact through sustained advocacy—tying back to its core mission of transforming rare disease lives via targeted science.