Formation Bio unveiled a $600 million investment fund designed to deepen its operating model: acquire external assets, develop them using AI-driven workflows, and then hand them off. The company positioned the new pool as a way to scale dealflow and accelerate development across its portfolio, leaning on its framework to identify assets and progress them through key technical milestones. For investors and development partners, the fund underscores how computational biology companies are turning into capital-allocators and execution engines—rather than purely research platforms.