The Origin Problem: What Formation Bio Doesn’t Want You to Know About LabNook
Company Profile
Formation Bio, Inc. is a clinical-stage pharmaceutical company headquartered at 16 East 34th Street, Floor 10, New York, NY 10016. The company acquires drug candidates from other pharmaceutical companies, develops them through clinical trials, and either advances them toward regulatory approval or licenses them to larger pharma partners. Forbes has described Formation Bio as a “Sam Altman-backed $1.8 billion startup.” [1][2]
The company operates through a holding company structure, creating separately named subsidiaries for each drug it acquires. Known subsidiaries include High Line Bio, Libertas Bio, Bleecker Bio, and Kenmare Bio — each named after New York City neighborhoods and landmarks. [2][3]
Formation Bio has not brought an approved drug product to market as of the date of this analysis. [2][4]
Basic Information
| Field | Value | Notes |
|---|---|---|
| Current legal name | Formation Bio, Inc. | Since November 19, 2025 (NY SoS) [5] |
| Previous names | TrialSpark, Inc. (~2016–2025); LabNook, Inc. (2014–~2016) | Three names for the same entity [5][6][7] |
| Date of formation | Contested | Company claims 2016 [3]. Government records show June 11, 2014 [5]. Crunchbase showed June 2014 (later edited to June 2013) [8]. See “Origin Discrepancies” below. |
| State of incorporation | Delaware (per SEC Form D) | Parent entity not found in Delaware Division of Corporations free search under any of its three names. PA foreign corporation filing (Entity #4277202) confirms Delaware as home jurisdiction. [6][9] |
| Registered in | New York (DOS ID 4972432), Pennsylvania (Entity #4277202), New Jersey (Entity 0450957407) | NY is primary. PA filing is earliest known (June 19, 2014). [5][9][10] |
| SEC CIK | 0002028122 | Previous name listed as “LabNook, Inc.” [6] |
| CEO and co-founder | Benjamine Liu | Rhodes Scholar (Oxford), PhD in Alzheimer’s research (declined to complete) [11] |
| Co-founder | Linhao Zhang | Oxford connection; currently posts about reproductive medicine [11] |
| Industry | Pharmaceutical development / Clinical trials | Originally classified as “Media Streaming, Social Networks” on D&B [9] |
| Employees | ~200 (reported) | [2] |
| Valuation | ~$1.8 billion | Per Forbes description [1] |
Funding History
| Round | Date | Amount | Lead Investors | Name at Time |
|---|---|---|---|---|
| Seed | Sep 2017 | ~$2.3M | Thrive Capital (Kushner), Sequoia Capital (Moritz) | LabNook / TrialSpark |
| Series A | ~2018 | Undisclosed | Sequoia Capital | TrialSpark |
| Series B | ~2019 | Undisclosed | Thrive Capital | TrialSpark |
| OpenResearch Grant | FY2020 | $1,000,000 | Open Research Lab Inc. (Altman nonprofit) | TrialSpark |
| Series C | Sep 30, 2021 | $156,000,000 | Sam Altman, Lachy Groom | TrialSpark |
| Series D | Jul 2, 2024 | $372,000,000 | a16z, Sanofi Ventures, Sequoia, Thrive | Formation Bio |
| Total raised | $608,000,000+ |
No Form D was filed with the SEC for Series A, B, or C. The only Form D on record (Series D, July 2024) was signed as “TrialSpark, Inc.” — seven months after the public rebrand to Formation Bio. [6][12][13]
INVESTOR PERSISTENCE — WHO NEVER LEFT
| Investor | Seed (2017) | B (2018) | C (2021) | D (2024) | Notes |
|---|---|---|---|---|---|
| Thrive Capital | ✅ | ✅ | ✅ (Zaki) | ✅ (Zaki) | EVERY ROUND. Joshua Kushner (brother of Jared). |
| Sequoia Capital | ✅ (Lin) | ✅ | ✅ (Moritz) | ✅ (Lin + Moritz) | EVERY ROUND. Both partners named by Series D. |
| Felicis | — | ✅ (Chan) | ✅ (Chan) | — | Wesley Chan, ex-Google, created Google Analytics. |
| Spark Capital | — | ✅ (Reed) | ✅ (Reed) | — | William Reed in both. |
| Sound Ventures | — | ✅ | ✅ | — | Ashton Kutcher + Guy Oseary. Entertainment money. |
| Lachy Groom | — | — | ✅ (co-led) | ✅ | Altman’s former roommate. |
| Sam Altman | — | — | ✅ (co-led) | — | Not named in D but holds $19M stake per court exhibit. |
| Sanofi | — | — | — | ✅ (Hudson) | ALSO drug buyer (€545M) AND Muse partner. Triple role. |
| SV Angel | — | — | — | ✅ | Ron Conway. Also funded Watsi (YC charity). |
| Emerson Collective | — | — | — | ✅ | Laurene Powell Jobs. |
The Musk v. Altman trial exhibit valued Sam Altman’s personal stake in Formation Bio at $19 million. [14][15]
Current Drug Pipeline
| Drug | Subsidiary | Indication | Phase | Acquired From | Status |
|---|---|---|---|---|---|
| Gusacitinib | Libertas Bio | Chronic hand eczema | Phase 3 | Asana BioSciences (Nov 2022) | Licensed to Sanofi for €545M (Jun 2025) [16] |
| ASN008 | Libertas Bio | Atopic dermatitis (eczema) | Phase 2 | Asana BioSciences (Nov 2022) | COMPLETED — see “ASN008 Clinical Trial Results” below |
| BLKR201 (LNK01006) | Bleecker Bio | Inflammatory/autoimmune | Phase 1 | Lynk Pharmaceuticals (China) | Enrolling — one site (Celerion, Lincoln NE) [17] |
| Sprifermin | High Line Bio | Knee osteoarthritis | Pre-clinical | Merck KGaA | No active trial found [2] |
| miR-124 | Kenmare Bio | Autoimmune | Pre-clinical | CTFH (China) | No active trial found [2] |
Both Chinese-sourced drugs (BLKR201 and miR-124) are structured as “worldwide rights excluding Greater China.” [2][3]
Key Partnerships and Relationships
| Partner | Relationship | Date | Significance |
|---|---|---|---|
| 23andMe | Joint clinical trial offering — genetic database for patient recruitment | Sep 26, 2019 | Combined 23andMe’s genetic database with TrialSpark’s trial sites [18] |
| OpenAI / Sanofi | “First-in-class AI collaboration” — Muse AI platform | May 21, 2024 | Three-way partnership; Altman held stakes in both OpenAI and Formation Bio [2][19] |
| Sanofi | Drug licensing — gusacitinib | Jun 2025 | €545M deal [16] |
| OpenResearch | $1M nonprofit grant — Project Covalence | FY2020 | Altman-connected nonprofit funded TrialSpark’s COVID platform [20][21] |
Board of Directors (per 2024 Form D)
| Name | Affiliation |
|---|---|
| Scott Kupor | Managing Partner, a16z |
| Alfred Lin | Partner, Sequoia Capital |
| Michael Moritz | Sr. Advisor, Sequoia Heritage |
| Kareem Zaki (Observer) | Partner, Thrive Capital (Josh Kushner) |
Leadership
| Name | Title | Background | Notes |
|---|---|---|---|
| Benjamine Liu | CEO, Co-founder | Rhodes Scholar (Oxford), UPenn | WEF Tianjin 2014 attendee [11][22] |
| Linhao Zhang | Co-founder | Oxford | f6s profiles show LabNook + ResearchWe (clinical trial crowdsourcing) [11] |
| Dr. Ken Somberg | CMO | 12 years Novartis → CMO Covance (LabCorp) → TrialSpark | Direct pipeline from world’s largest CRO [23] |
| Quentin Chu | President & CFO | Scaled CityMD (urgent care chain) | Joined Nov 2019 [23] |
| Jorge Ramirez | Head of Investments & VP Business Development | 7 years at H.I.G. BioHealth Partners (2014–2021) | H.I.G. later acquired Celerion, where Formation Bio’s only trial runs [24] |
| Mikael Dolsten | (Role TBD) | Former Pfizer Chief R&D Officer — oversaw COVID vaccine development | Joined April 2025 [2] |
| Gavin Corcoran | Chief Development Officer | Led ASN008 trial announcement | [25] |
PR and Communications
All known TrialSpark press releases were handled by Kevin Donovan, Director of Scientific Communications at Ruder Finn, a major NYC PR firm. Donovan handled the 23andMe partnership announcement, the Project Covalence launch, and the Limbix adolescent depression trial collaboration. He has a near-zero digital footprint for someone managing press for these sensitive releases. [18][21][26]
Ruder Finn’s healthcare subsidiaries — jacobstahl (healthcare crisis PR, acquired September 2020) and Mantis (UK health tech PR, 85% NHS clients, acquired 2021) — were removed from the Ruder Finn website on April 22, 2026. Ruder Finn also owns Osmosis Films, which produces video content for the World Economic Forum. [26]
Origin Discrepancies
Formation Bio states it was “founded in 2016 as TrialSpark Inc.” [3] The documented record tells a different story.
Five Different Founding Dates from Five Different Sources
| Source | Date Given | Name Used |
|---|---|---|
| NY Secretary of State (Foreign Formation Date) | June 11, 2014 | Not specified |
| World Economic Forum participant list | Sep 2014 (attended) | LabNook, United Kingdom |
| Crunchbase (May 2022 Wayback) | Jun 2014 | TrialSpark |
| Crunchbase (Mar 2025 Wayback) | Jun 2013 | Formation Bio — backdated one year between snapshots |
| Formation Bio press release (Dec 2023) | 2016 | TrialSpark |
Additional sources reporting 2014: aVenture, FlexJobs, Aliens Zone. Additional sources reporting 2016: Inside Precision Medicine, Contrary Research. [3][5][7][8][22]
The Crunchbase founding date moved backward from June 2014 to June 2013 between Wayback captures — in the opposite direction of the company’s own “founded in 2016” claim. Crunchbase profiles can be edited through the platform’s “Suggest Edit” feature with no public edit history. Searching “trialspark” on Crunchbase now returns zero results. [8]
The Three Names
LabNook, Inc. (2014–~2016): Original incorporation name. Confirmed by SEC EDGAR “Previous Name” field, PitchBook, PrivCo, and Crankstart Foundation investment schedules which read “LABNOOK AKA TRIALSPARK.” D&B classified the business as “Media Streaming, Social Networks.” Transition to TrialSpark was silent — no press release, no announcement. [5][6][7][27]
TrialSpark, Inc. (~2016–November 19, 2025): Name during all major investment rounds, the 23andMe partnership, the OpenResearch $1M grant, Project Covalence, and the ASN008 clinical trial. Domain trialspark.com registered October 22, 2014 — two and a half years before the legal name change — with privacy shielding through Withheld for Privacy ehf (Iceland). [5][28]
Formation Bio, Inc. (November 19, 2025–present): Public rebrand announced December 5, 2023, but legal name change in New York did not occur until November 19, 2025 — a 23-month gap. During this period, the company publicly presented as Formation Bio while legally remaining TrialSpark, Inc. The SEC Form D was signed as “TrialSpark, Inc.” seven months after the public rebrand. [3][5][6]
Pennsylvania Filing: The “Foreign” Mystery Resolved
LabNook Inc. was registered as a foreign corporation in Pennsylvania on June 19, 2014 (Entity #4277202), confirming Delaware as the home jurisdiction. The “foreign” designation in New York filings meant another US state, not a foreign country. The WEF listing of “United Kingdom” reflected Liu’s physical location (heading to Oxford as a Rhodes Scholar), not the corporate jurisdiction. [9]
PA name change to TrialSpark occurred December 23, 2020 — 3.5 years after the NY name change (May 2017). The registered agent was changed on March 3, 2025 from Corporation Service Company to Information Network Associates (INA) — an investigative and intelligence firm founded in 1982 by FBI Special Agent Barry Ryan, headquartered at 5235 N Front Street, Harrisburg, PA. [9][29]
STATE REGISTRATIONS — COMPLETE LIST
| State | Entity ID | Date | Name | Status | Address | Notes |
|---|---|---|---|---|---|---|
| Delaware | 5549635 | Jun 11, 2014 | TRIALSPARK, INC. | Active | — | MOTHER COMPANY. Trademarks: TRIALSPARK, TRIALSPARK SCOUT |
| Delaware | 6361646 | Unknown | TRIALSPARK, INC. | Active | — | Second DE entity — possibly subsidiary or LP |
| Pennsylvania | 4277202 | Jun 19, 2014 | TrialSpark, Inc. | Active | CSC, Dauphin | Branch. Previously “LABNOOK INCORPORATED.” Never updated to Formation Bio |
| New York | DOS 4972432 | Jul 5, 2016 | FORMATION BIO, INC. | Active | — | Originally filed as LABNOOK → TRIALSPARK (May 2017) → FORMATION BIO (Nov 2025) |
| DC | C00006091912 | Oct 9, 2018 | TRIALSPARK, Inc. | REVOKED Sep 18, 2019 | 45 W STREET, 4TH FLOOR, NY 10001 | BENJAMIN LIU listed as beneficial owner. “Aid in trial recruitment and execute clinical trials.” Branch of DE 5549635. |
| New Jersey | 0450957407 | Apr 19, 2023 | TRIALSPARK, INC. | Active | NEW YORK | Branch. Same month as Hardcore Tech LLC registration (Jan 2023, Monroe Township) |
| Texas | 0805654925 | Aug 6, 2024 | TrialSpark Inc. | Active | 16 E 34th St Fl 10, NY 10016 | Branch. Previously “TRIALSPARK INCORPORATED” |
| Maryland | F25296880 | Aug 7, 2024 | TRIALSPARK, INC | Active | 16 E 34th St Fl 10, NY 10016 | Branch |
| Indiana | 202408071813612 | Aug 7, 2024 | TRIALSPARK, INC. | Active | — | Branch |
| Massachusetts | 001927277 | Nov 12, 2025 | FORMATION BIO, INC. | Active | — | Branch. Filed under new name. Purpose unknown. |
MA registered November 2025 — same month as NY name change. New territory under new name.
TX, MD, IN all registered on Aug 6-7, 2024 — a coordinated multi-state expansion. This was AFTER the TechCrunch article and AFTER the first-ever Form D filing (Jul 2024).
PA and NJ still show TRIALSPARK — never updated to Formation Bio.
DC branch REVOKED September 2019 — same month as 23andMe partnership announcement.
Congressional Safe Harbor Certifications
From the U.S. House of Representatives record (HHRG-114-IF16-20151103-SD015), three relevant entities appear on the EU-US Safe Harbor data transfer certification list: [30]
| Organization | Certified | Next Certification |
|---|---|---|
| TrialSpark | Nov 12, 2014 | Nov 12, 2015 |
| 23andMe, Inc. | Nov 18, 2014 | Nov 18, 2015 |
| LabNook Inc. | Oct 6, 2015 | Oct 6, 2016 |
TrialSpark and LabNook are listed as separate entities — not as aliases. TrialSpark was certified before LabNook, which inverts the legal entity chain. The certifications overlapped for 37 days. TrialSpark and 23andMe were certified within six days of each other. [30]
CANADIAN TRADEMARKS
Both TrialSpark and Libertas Bio filed trademarks in Canada. This suggests international IP strategy and potential cross-border clinical operations. Needs investigation in Canadian trademark database (CIPO).
The WEF Appearance
Benjamine Liu attended the Annual Meeting of the New Champions 2014 in Tianjin, China (September 10–12, 2014) listed as “Chief Executive Officer — LabNook — United Kingdom.” This was three months after the PA foreign formation date and two months before TrialSpark received Safe Harbor certification. WEF participation is by invitation only. Also present: David Alexandre Gros, Chief Strategy Officer of Sanofi — the same Sanofi that would later partner with Formation Bio. [22]
The Domain Timeline
The trialspark.com domain was registered October 22, 2014 with Icelandic privacy shielding. The website did not go live until approximately November 2018 — four years with no public content. The domain registration preceded the legal name change to TrialSpark by two and a half years. [28]
Database Erasure
| Platform | Status |
|---|---|
| Crunchbase | Search for “trialspark” returns zero results |
| CB Insights | Removed from unicorn tracker |
| MapQuest | Shows as “CLOSED” |
| Delaware SoS | Parent entity not found under any name |
| TrialSpark Facebook | DELETED — “This content isn’t available right now” |
| trialspark.com redirects to formation.bio |
A company that raised over $528 million across multiple rounds is unsearchable under its operational name of seven years. [8]
ASN008 Clinical Trial Results
Formation Bio’s only completed proprietary clinical trial was NCT05870865 — a Phase 2 study of ASN008, a topical sodium channel blocker for atopic dermatitis (eczema). The trial enrolled 144 participants across 27 sites. [17][25]
Results (Primary Endpoint — Percent Change in Itch Score, Baseline to Week 4):
| Group | Result | Participants |
|---|---|---|
| ASN008 1.25% | -45.6% | 30 |
| ASN008 2.5% | -55.8% | 30 |
| ASN008 5% | -48.3% | 26 |
| Placebo | -49.9% | 31 |
The placebo outperformed two of three drug doses. [17]
Contamination:
The company’s own filing states: “Quantifiable levels of ASN008 were observed in vehicle and pre-dose plasma samples.” The placebo was contaminated with active drug. Patients had the drug in their blood before they were given it. “Cross contamination of samples could not be ruled out.” “The validity of the raw data could not be confirmed.” Population PK analysis was not performed. [17]
Timeline and Disclosure:
| Date | Event |
|---|---|
| May 3, 2023 | First patient dosed (as TrialSpark) |
| Nov 27, 2023 | Primary completion |
| Dec 5, 2023 | Formation Bio rebrand announced — during final trial weeks |
| Dec 28, 2023 | Study completion |
| Nov 22, 2024 | Results first submitted — NLM rejected for insufficient detail |
| Dec 27, 2024 | Results posted — one day before 12-month legal deadline |
| May 8, 2025 | “Limitations and Caveats” added retroactively |
| May 16, 2025 | Enrollment count changed from 131 to 144 (press release had said ~120) |
No press release was ever issued about the results. ASN008 has been removed from the Formation Bio website. The sponsor name was changed on ClinicalTrials.gov from “TrialSpark” to “Formation Bio, Inc.” before the legal name change existed in New York. [17]
Trial Sites:
Sites included communities such as Hot Springs AR, Monroe LA, Los Angeles CA 90057 (Koreatown/Westlake — one of the poorest neighborhoods in LA), Auburn Hills MI, and Philadelphia PA 19103 — the same zip code as the original LabNook D&B address. [17]
Current Clinical Activity
As of May 2026, Formation Bio has one active clinical trial: BLKR201 (formerly LNK01006), a Phase 1 study in healthy adult participants at a single site — Celerion, a contract research organization in Lincoln, Nebraska. The drug is a CNS-penetrant TYK2 inhibitor acquired from Lynk Pharmaceuticals (China) under a “worldwide rights excluding Greater China” structure. The Phase 1 protocol includes spinal fluid extraction (lumbar puncture) from healthy volunteers. [17][24]
Celerion was acquired by H.I.G. Capital in November 2022. Formation Bio’s Head of Investments, Jorge Ramirez, spent 2014–2021 (seven years) as Vice President at H.I.G. BioHealth Partners — a division of Celerion’s then-parent company. The vendor selection occurred during this related-party ownership period. This relationship does not appear to be publicly disclosed. [24]
H.I.G. Capital sold Celerion to THL Partners (Thomas H. Lee Partners) for $1.8 billion on April 22, 2026 — the same day Ruder Finn updated its website and removed healthcare PR subsidiaries. [24][26]
Pryzm/Ozmosi success probability: ASN008 (the failed drug) was rated at 10%. BLKR201 (the current drug) is rated at 88%. [31]
Project Covalence
Project Covalence was announced June 16, 2020 as “a clinical trial platform to rapidly test drugs and diagnostics for COVID-19,” presented as a collaboration between Sam Altman, Jack Dorsey, Dr. Mark Fishman (founding president of Novartis Institutes for Biomedical Research), and TrialSpark. OpenResearch provided a $1 million grant to fund it. [20][21]
The output was one antibody diagnostic survey — a population sampling study — not a treatment, vaccine, or drug development effort. The project went quiet by late 2021. The website (projectcovalence.com) remains live as of May 2026, with WHOIS showing an update on April 14, 2026 and registration paid through 2027. A “Donate” button on the site routes to a contact form rather than a payment processor. [21][32]
The Trademark
TrialSpark filed a US trademark application for “Project Covalence” (Application No. 90062822) on July 20, 2020 — 34 days after the project’s public launch. The application was extended internationally through WIPO (Registration 1587792) on January 11, 2021, and registered in Canada (Registration 2101445). The registered owner is TrialSpark, Inc. — not OpenResearch or any nonprofit entity. The stated service is Nice Class 42: “Hosting a website featuring information in the field of clinical research.” [33][34][35]
The nonprofit-funded COVID project was proprietary intellectual property owned by the for-profit company. The trademark was partially cancelled effective February 8, 2024 — two months after the Formation Bio rebrand. The trademark agent was changed from Clark Wilson LLP (Vancouver, BC) to Fross Zelnick Lehrman & Zissu (New York) in February 2025. [33][34][35]
On the Project Covalence website, Sam Altman described himself as “a current advisor and former president of Y Combinator” — the correct title. One year later, on the AltC Acquisition Corp SEC S-1 filing (2021), he described himself as “chairman” of Y Combinator — a title YC partners have stated he never held. [32]
Sam’s COVID Blog Post and Spreadsheet
On February 2, 2020 — one day before the US declared a public health emergency — Altman created a Google Sheet titled “2019 0202 Flatten” collecting COVID startup pitches. The spreadsheet contained 262 entries (107 idea pitches and 155 existing companies) with an “ASK” column listing funding requests. Altman later wrote: “We tried this public spreadsheet but it didn’t work that well; please email me instead.” The deal flow went private. [36]
In the same blog post, Altman wrote: “Also, if anyone knows of a contract research company that can run a viral challenge against SARS-CoV-2 in a humanized ACE2 animal model, that would help a startup I’m working with.” The unnamed startup requiring coronavirus animal testing was not identified. Project Covalence launched approximately three months later. [36]
The spreadsheet included entries from a Liechtenstein-based cryptocurrency exchange pitching “blockchain for COVID transparency,” mass surveillance tool companies, AI companies requesting OpenAI collaboration and BSL4 laboratory access, a company already deployed in Wuhan, and multiple pseudoscience entries including magnet therapy derived from a dream, honey cures, and coconut oil as COVID treatment. [36]
resTORbio and Project Covalence
resTORbio (NASDAQ: TORC), an anti-aging biotech company, had its Phase III respiratory drug RTB-101 fail in December 2019 — the same month COVID emerged. The drug was repurposed for COVID-19 treatment through Project Covalence, targeting adults aged 65 and older in nursing homes within the Genesis Healthcare system, with approximately 550 participants. The study was funded by the National Institute on Aging. [37]
OpenResearch Revenue Spike
In FY2021 — the same fiscal year Altman led the $156 million Series C — OpenResearch received $10.14 million in contributions, representing 99.7% of its revenue. This was a 92x increase from the prior year’s $110,000. Revenue dropped back to $190,000 the following year. The donor identities are protected by Schedule B restrictions on the public filing. [38]
The Moritz Foundation Record
Michael Moritz’s Crankstart Foundation provides the only consistent documentation of the entity across both names. Investment schedules filed with the IRS from 2016 through 2023 list the holding as “LABNOOK AKA TRIALSPARK” with the following values: [27]
| Year | Fair Market Value | Event |
|---|---|---|
| 2016 | $1,750,000 | Seed (~76% of round) |
| 2017 | $1,750,000 | Flat |
| 2018 | $4,268,353 | Series B repricing |
| 2019 | $4,268,353 | 23andMe partnership year |
| 2020 | $4,268,353 | OpenResearch grant year |
| 2021 | $75,141,375 | Series C → 17.6x increase |
| 2022 | $72,887,675 | Slight decrease |
| 2023 | $72,887,675 | Rebrand year |
| 2024 | Aggregated | Hidden in “$467M private securities” |
Both sons’ foundations (Kelson Foundation and Loud Hound Foundation) received identical allocations. Moritz now sits on Formation Bio’s board per the 2024 Form D. [6][27][39][40]
The OneCare / Speedy Sticks Connection
OneCare LLC (onecareme.com), a Staten Island healthcare clinic, is linked to Speedy Sticks (a mobile phlebotomy/blood draw company at Formation Bio’s 16 E 34th Street address) through Facebook’s “Related Pages” algorithm, which connects pages sharing administrators or audience overlap. [41][42]
| Date | OneCare Status |
|---|---|
| Dec 4, 2020 | Domain registered (Squarespace, NY) |
| Feb 3, 2021 | Facebook page created |
| Jun 4, 2023 | Operational — “under new management” |
| Dec 1, 2023 | “WE ARE CLOSE” — four days before Formation Bio rebrand |
| Nov 19, 2025 | Domain updated — same day as Formation Bio legal name change |
| Dec 4, 2026 | Domain expiration (active, paid) |
The domain redirected to malware within 48 hours of being visited during this investigation — on an active, paid domain. OneCare’s listed “partnerships” include Revolt (Sean Combs / Diddy’s media company — Combs convicted July 2025), NYC Department of Education, Warner Records, Eurasia Stone (marble fabrication), and fashion brands. [41][42]
The 23andMe Parallel
| Date | TrialSpark / Formation Bio | 23andMe |
|---|---|---|
| Nov 12, 2014 | Safe Harbor certified | — |
| Nov 18, 2014 | — | Safe Harbor certified (6 days later) |
| Sep 2019 | Joint clinical trial offering announced | Joint clinical trial offering announced |
| Oct 2023 | — | Breached — Jewish/Chinese data targeted; hacker handle “Wuhan” |
| Dec 2023 | Rebrands to Formation Bio | — |
| Mar 2025 | — | Files bankruptcy |
| Jun 2025 | — | Wojcicki rebuys through nonprofit TTAM for $305M |
Rep. Jason Crow (House Intelligence Committee) specifically named 23andMe as a bioweapons risk at the Aspen Security Forum. Public Citizen independently described both the OpenAI restructuring and the 23andMe bankruptcy-to-nonprofit reacquisition as “self-dealing.” [18][30][43][44]
The Qihoo 360 Timing
One month after LabNook’s formation date, Qihoo 360 — a Chinese cybersecurity company that was an early Sequoia Capital China investment and was later designated a “Chinese military company” by the Pentagon — established a Silicon Valley venture fund investing in four unnamed companies developing “big data, smart hardware and family safety apps.” Those companies have never been publicly identified. Moritz’s Crankstart Foundation held 101,081 shares of Qihoo (valued at $2.59M in 2015, written to $0 in 2016 upon delisting). The Qihoo delisting cash-out occurred in July 2016 — the same month as LabNook’s $1.75M seed round. [45]
Ethnic Bioweapon Intelligence Context
The following publicly documented intelligence community assessments provide context for the 23andMe-TrialSpark genetic data partnership and subsequent breach:
- 1997: ICRC warns ethnic targeting “probably not far off”
- 2007: Russia bans human biosample exports citing “genetic bioweapons”
- 2017: Chinese General Zhang Shibo publicly advocates “specific ethnic genetic attacks” in PLA National Defense University textbook; DOE raises biosecurity concerns; Commerce restricts biotech exports to China; NIH refuses to restrict Chinese lab collaboration; TrialSpark receives seed funding — same year
- June 2021: US Naval Institute Proceedings: “Synthetic Bioweapons Are Coming” — “procuring a president’s DNA is easy”
- October 2023: China’s Ministry of State Security warns about “genetic weapons that can kill targets of a predetermined race”; 23andMe breached with Jewish/Chinese data specifically targeted (same month); hacker handle “Wuhan”
- 2023: Rep. Jason Crow (House Intelligence Committee) names 23andMe as bioweapons risk
This timeline does not assert that any entity in this investigation participated in bioweapon development. It provides context for why the genetic database partnership and subsequent ethnic-targeted breach are matters of national security concern, as Congress itself has stated. [43][44][46][47][48]
Open Questions
Where was the entity incorporated?RESOLVED: Delaware, confirmed via PA foreign corp filing.- Who sponsored Benjamine Liu for the World Economic Forum in 2014?
- Was LabNook one of Qihoo 360’s four unnamed Silicon Valley investments?
- Why were TrialSpark and LabNook listed as separate entities on the congressional Safe Harbor record?
- What was LabNook doing at UCSD? (Supplier classification: “LARGE” with campus presence.)
- Who donated $10.14 million to OpenResearch in FY2021?
- What startup was Sam Altman “working with” that needed coronavirus animal testing?
- Why was ASN008 erased from Formation Bio’s website?
- Why was onecareme.com updated on the same day as the Formation Bio legal name change?
Summary of Contradictions
| Claim | Source | Contradicted By | Source |
|---|---|---|---|
| “Founded in 2016” | Formation Bio press release | Formation date Jun 11, 2014 | NY Secretary of State |
| “Founded in 2016” | Formation Bio press release | WEF attendance Sep 2014 | WEF participant list |
| “Founded in 2016” | Formation Bio press release | Safe Harbor certified Nov 2014 | Congressional record |
| “Incorporated in Delaware” | SEC Form D | Entity not found in Delaware | Delaware Division of Corporations |
| One entity, renamed | Company narrative | Listed as two separate entities | Congressional Safe Harbor list |
| “Rebranded Dec 2023” | PR Newswire | Legal name change Nov 19, 2025 | NY Secretary of State |
| “Formation Bio” (2024) | Press materials | Form D signed as “TrialSpark, Inc.” | SEC EDGAR |
FORMATION BIO SUBSIDIARY + LP ENTITIES
- 2024: Formation Bio subsidiary created (details TBD)
- 2025: Two LP entities created (details TBD)
- LP entities had corresponding SEC Form D filings
- Structure suggests new fund vehicles or investment partnerships for the Series D capital
Sources
- [Archive] Forbes: “Formation Bio” Sam Altman-backed $1.8 billion startup description
- [Archive] TechCrunch: “Formation Bio raises $372M to boost drug development with AI,” Jun 26, 2024: https://techcrunch.com/2024/06/26/formation-bio-raises-372m-to-boost-drug-development-with-ai/
- [Archive] PR Newswire: “TrialSpark Rebrands as Formation Bio,” Dec 5, 2023: https://www.prnewswire.com/news-releases/trialspark-rebrands-as-formation-bio-continuing-its-commitment-to-advancing-drug-development-innovation-302006328.html
- [Archive] Formation Bio website pipeline page: https://www.formation.bio/licensing-and-pipeline
- [Archive] New York Secretary of State: Entity search, DOS ID 4972432
- [Archive] SEC EDGAR: CIK 0002028122, Form D filed Jul 2, 2024: https://www.sec.gov/Archives/edgar/data/2028122/000202812224000001/xslFormDX01/primary_doc.xml
- [Archive] Research.Contrary: https://research.contrary.com/company/formation-bio
- [Archive] Wayback Machine: Crunchbase profile captures (May 2022 and Mar 2025)
- [Archive] Pennsylvania Department of State: Entity #4277202, foreign corporation filing
- [Archive] New Jersey Division of Revenue: Entity ID 0450957407
- [Archive] f6s profiles: LabNook founding circle (Dobyns, Zhang, Zhou, Askonas, Szablowski, Holmes)
- [Archive] SEC.gov: “Filing a Form D Notice”: https://www.sec.gov/resources-small-businesses/exempt-offerings/filing-form-d-notice
- [Archive] PR Newswire: “TrialSpark raises $156MM Series C Funding led by Sam Altman and Lachy Groom,” Sep 30, 2021
- [Archive] Reuters: “OpenAI chief Altman has over $2 billion stake in companies that dealt with OpenAI,” May 13, 2026
- [Archive] Business Insider: “Sam Altman’s court appearance shines a light on his tech investments,” May 2026
- [Archive] Sanofi press release: Libertas Bio licenses gusacitinib, Jun 2025
- [Archive] ClinicalTrials.gov: NCT05870865 (ASN008 Phase 2), results and version history
- [Archive] PR Newswire: “23andMe and TrialSpark Announce Joint Clinical Trial Offering,” Sep 26, 2019
- [Archive] Sanofi press release: “Sanofi, Formation Bio and OpenAI announce first-in-class AI collaboration,” May 21, 2024
- [Archive] ProPublica Nonprofit Explorer: Open Research Lab Inc. Form 990 FY2020, Schedule I (TrialSpark grant): https://projects.propublica.org/nonprofits/organizations/810861414
- [Archive] PR Newswire: “TrialSpark announces launch of Project Covalence,” Jun 16, 2020
- [Archive] World Economic Forum: AMNC14 participant list, Tianjin, China, Sep 10-12, 2014
- [Archive] PR Newswire: “TrialSpark Bolsters Executive Team” (Somberg, Chu), Nov 7, 2019
- [Archive] H.I.G. Capital: Celerion acquisition (Nov 2022) and sale to THL Partners for $1.8B (Apr 22, 2026)
- [Archive] PR Newswire: “TrialSpark Announces First Patient Dosed in Phase 2 Clinical Trial for ASN008-201,” May 23, 2023
- [Archive] Ruder Finn website: Wayback Mar 11, 2026 vs current (jacobstahl/Mantis removal Apr 22, 2026)
- [Archive] Crankstart Foundation Form 990-PF investment schedules, 2016-2024 (ProPublica, EIN 94-3377099)
- [Archive] WHOIS: trialspark.com (registered Oct 22, 2014; Withheld for Privacy ehf, Iceland)
- [Archive] Information Network Associates (INA): Corporate records, FBI founding history
- [Archive] U.S. House of Representatives: HHRG-114-IF16-20151103-SD015 (Safe Harbor certifications)
- [Archive] Pryzm/Ozmosi: ASN008 (10%) and BLKR201 (88%) success probability assessments
- [Archive] projectcovalence.com: Website archived and live (WHOIS updated Apr 14, 2026, paid through 2027)
- [Archive] Canadian Intellectual Property Office: Trademark Registration 2101445 (Project Covalence)
- [Archive] WIPO: International Registration 1587792 (Project Covalence)
- [Archive] USPTO: Application 90062822 (Project Covalence)
- [Archive] blog.samaltman.com: “Funding for COVID-19 Projects” (spreadsheet and CRO request)
- [Archive] PR Newswire: resTORbio/Project Covalence collaboration; ClinicalTrials.gov RTB-101
- [Archive] OpenResearch Form 990, FY2019-2023 (ProPublica, EIN 81-0861414)
- [Archive] Kelson Foundation Form 990-PF (ProPublica, EIN 81-3588323)
- [Archive] Loud Hound Foundation Form 990-PF (ProPublica, EIN 81-3588263)
- [Archive] WHOIS: onecareme.com (registered Dec 4, 2020; updated Nov 19, 2025; expires Dec 4, 2026)
- [Archive] Facebook: OneCare Related Pages (Speedy Sticks, MD1Program, The Moving General)
- [Archive] Newsweek: “China’s Spy Agency Warns About Weaponized Gene Technology,” Oct 31, 2023
- [Archive] National Review: “The Coming Threat of a Genetically-Engineered ‘Ethnic Bioweapon,’” Apr 10, 2023
- [Archive] WSJ: “Qihoo 360 Joins Asian Companies Launching VC Groups in Silicon Valley,” Jul 10, 2014
- [Archive] US Naval Institute Proceedings: “Synthetic Bioweapons Are Coming,” June 2021
- [Archive] ICRC: 1997 assessment on ethnic targeting
- [Archive] Sam Altman blog: “Trump” (2016 Hitler comparison; later $1M inaugural donation + $25M Brockman/OpenAI donation)
DISCLAIMER
This analysis does not constitute evidence of illegal action. The opinions expressed here are the professional opinions and analytical conclusions of the author, a published corporate ethics researcher and analyst specializing in business leadership ethics, governance structures, and nonprofit compliance. This analysis documents patterns, governance structures, and capital flows from publicly available tax filings, SEC filings, press releases, journalism, and government records. Readers are encouraged to examine the primary sources cited above and draw their own conclusions.
A conflict does not become less important because it was routed through a quieter entity. It becomes more important to map.
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