Our Partners : ADDCo Initiative
Asset Discovery and Development Companies (ADDCos)
At FORMA, we embrace working with others and recognize it is essential for success, which we define as delivering transformative, relevant medicines tailored for specific patients. Whether understanding disease biology, developing biomarkers to predict effective interventions, or organizing patients and investigators to rapidly conduct highly focused clinical trials, we strive to build one unified team with our partners. The creation of ADDCos is part of an initiative to facilitate FORMA's collaboration with select academic, not-for-profit and venture philanthropy institutions to transform basic research discoveries into life-saving therapies.
ADDCos are virtual NewCos (new companies), and each one is created around a specific target asset. Within an ADDCo, we combine our ultra-efficient drug discovery engine with a world-class basic research and clinical development network to rapidly execute on a compelling area of science.
An ADDCo integrates diverse expertise from multiple institutions into a unified team. This open-innovation concept of collective information sharing should enhance scientific rigor and accelerate decision making to ultimately generate more rapid value for patients, our partners and investors.
Scientific success, which we define as delivering transformative, relevant medicines tailored for specific patients, can be achieved in an environment that:
- Nurtures basic research creativity and innovation
- Emphasizes an applied focus to advance assets in a capital-efficient manner
- Has access to robust tools to deeply probe the biology and mechanism of action
- Welcomes serendipity
Business structures can accelerate or undermine the likelihood of success. The ADDCo platform was designed to facilitate the transition of scientific innovations into value-added intellectual property and address the challenges in building and financing early-stage start-up companies.
FORMA Therapeutics Holdings LLC
Consistent with our emphasis on transformative science, we place equal importance on ensuring our business structure supports innovative and capital-efficient drug discovery.
Within an LLC corporate structure, FORMA Therapeutics Holdings LLC enables our broad and deep discovery programs to yield continual value creation opportunities for our partners and shareholders. This parent company houses our drug discovery engine in one subsidiary, FORMA Therapeutics Inc., and wholly owns a series of "NewCo" C-corporations. These NewCos are virtual subsidiaries containing intellectual property relating to specific assets or drug discovery programs and leverage FORMA Inc.’s research engine and the translational medicine and clinical development capabilities of our strategic partners on a capital-efficient, “as needed” basis. Through this LLC/NewCo business structure, our pipeline can rapidly deliver clinical proof-of-relevance and high-value exit opportunities, while maintaining an intact sustainable drug discovery engine.
Each NewCo is customized for the assets or programs around which it is created and takes into consideration the specific needs of the partners and investors that support the program. For example, our Asset Discovery and Development Company (ADDCo) initiative shows how we deploy this strategy. Through the ADDCo platform, our corporate, academic and not-for-profit collaborators together access our capital-efficient engine operating at scale, attain financial returns reflecting their contributions, and collectively advance medical science within our unified team framework.