As companies aim to cut costs and reel in spending amid uncertain macroeconomic conditions, Form Bio thinks it is actually the perfect time to launch its platform. The software company was developed at Colossal Biosciences — known for its goal to bring extinct critters like the wooly mammoth back to life — and is now striking out on its own.
The software Form Bio developed is meant to bring a suite of workflow solutions to the computational biology space, which uses data and modeling to understand biological systems and includes sectors like gene therapy and biotech.
The platform will use machine learning to help researchers and companies go from idea to scientific breakthrough faster by simplifying the data analytics processes in between and allowing users to choose from existing workflow templates that can be edited to fit a company’s specific needs.
Form Bio announced it was spinning out of Colossal Biosciences on September 27 with $30 million in funding led by JAZZ Venture Partners and Thomas Tull, both Colossal Biosciences investors.
Kent Wakeford, the co-CEO of both Form Bio and Colossal, said that the idea for Form Bio started on day one of Colossal’s journey when they tried to get started and realized there wasn’t a one-stop software they could use.
Source: Tech Crunch