AI-driven biotech Formation Bio signed a licensing agreement potentially worth €545 million with Sanofi for its dual JAK/SYK inhibitor gusacitinib. While gusacitinib is in Phase 3 for chronic hand eczema, Sanofi will explore new indications without prior Phase 1 data. Formation, backed by a $372 million Series D in 2024, uses strategic partnerships to accelerate clinical programs and apply AI to streamline drug development and patient recruitment processes.