Neoplasm

New formation stands for:

generally the emergence or creation of something new or the result of corresponding processes; special:
- in linguistics: neologism , the formation of a new word or phrase or a new meaning for an already existing word or phrase
- in medicine: neoplasia, the formation of new tissue, see tumor
Reorganization (various meanings)

See also:

Wiktionary: new formation - explanations of meanings, word origins, synonyms, translations