Formatech is a technology company.
Formatech has raised $7.0M across 1 funding round.
Formatech has raised $7.0M in total across 1 funding round.
Formatech has raised $7.0M in total across 1 funding round.
Formatech's investors include Abstract Ventures, Accel, ACME Capital, Andreessen Horowitz, Angel investor, Jana Messerschmidt, Banana Capital, BoxGroup, Cota Capital, Craft Ventures, First Round Capital, Inspired Capital.
Formatech, Inc. is a contract development and manufacturing organization (CDMO) founded in 1993 and headquartered in Andover, Massachusetts, specializing in biopharmaceutical services to accelerate drug development.[1][4] It provides preformulation, formulation development for dosage forms like lyophilized products, cell culture/fermentation process optimization, aseptic manufacturing of clinical and small-scale commercial supplies, and support services including stability testing—guided by its mission to "help make new drugs happen at the speed of science."[1][4] With around 61 employees and $17 million in revenue, Formatech serves biotech and pharmaceutical clients facing complex product development challenges, enabling faster progression from lab to market without building in-house capabilities.[1]
Note: Multiple entities share similar names, including FormaTech IT Services (a managed IT provider in Napa, CA, since ~2001/2002)[2][5][6] and Formatech.pro (a metal forming simulation firm using AI).[3] This profile focuses on Formatech, Inc., the most prominent match as a longstanding technology-enabled services company in biotech.[1][4]
Formatech, Inc. was established in 1993 in Andover, Massachusetts, emerging as a specialized contract services provider amid the biotech boom of the 1990s, when drug developers needed agile partners for formulation and manufacturing hurdles.[1][4] Key details on founders are not specified in available sources, but the company quickly built expertise in challenging areas like lyophilized dosage forms and aseptic processing, filling gaps for emerging biotechs lacking scale.[1] Pivotal early traction came from its aseptic facility, which supports clinical trials and small commercial runs, establishing reliability in an industry demanding precision and speed—evolving into a full-service CDMO with ICH-compliant stability programs.[1][4]
Formatech rides the wave of biologics and advanced therapies expansion, where demand for outsourced formulation and aseptic fill-finish has surged due to complex modalities like cell therapies and mRNA vaccines.[1] Timing aligns with post-pandemic biotech resurgence, as smaller firms prioritize speed over in-house builds amid funding constraints—market forces like rising clinical trial volumes and supply chain pressures favor specialized CDMOs.[1][4] It influences the ecosystem by de-risking early-stage drug pipelines, enabling startups to focus on innovation while Formatech handles manufacturing scalability, contributing to faster FDA approvals and broader access to novel therapies.
Formatech is poised for growth as biotech funding rebounds and outsourcing intensifies, potentially expanding capacity in high-demand areas like gene/cell therapies or personalized medicines. Trends like AI-driven formulation optimization and sustainable manufacturing could amplify its edge, evolving it from a niche player to a key enabler in the "speed of science" era. Its influence may grow by partnering with venture-backed biotechs, solidifying its role in delivering therapies at the pace innovation demands—much like its foundational mission to make new drugs happen.
Formatech has raised $7.0M across 1 funding round. Most recently, it raised $7.0M Seed in January 2020.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jan 1, 2020 | $7.0M Seed | Abstract Ventures, Accel, ACME Capital, Andreessen Horowitz, Angel investor, Jana Messerschmidt, Banana Capital, BoxGroup, Cota Capital, Craft Ventures, First Round Capital, Inspired Capital, Moving Capital, Pareto Holdings, Pioneer Fund, Plug & Play Ventures, Polychain Capital, QueensBridge Venture Partners, Republic Records, Tribe Capital, U.S. Department of Energy, Y Combinator, YLEM, Aaron Harris, David Marcus, Demetrios Christofidis Jr, Jeremy Yap, Josh Mohrer, Kristian Segerstrale, Nick Jonas, Rashaun Williams, Shervin Pishevar, Steve Aoki, Troy Carter |