Ajinomoto to Acquire Cell and Gene Therapy CDMO Forge Biologics for $620 Million
November 13, 2023
Rare Daily Staff
Forge Biologics, a manufacturer of genetic medicines, has agreed to be acquired by Japan-based Ajinomoto in an all-cash deal for $620 million.
Forge is a viral vector and plasmid contract development and manufacturing organization (CDMO) and clinical-stage therapeutics company, enabling access to potentially life-changing gene therapies by bringing them from concept to reality. All development and manufacturing are done at the Hearth, Forge’s 200,000 square foot custom-designed cGMP facility in Columbus, Ohio, where the business has over 300 employees.
Forge says the acquisition positions it for accelerated long-term growth supporting gene and cell therapy clients worldwide.
“We set out to build a company with a mission to enable access to life-changing discoveries, and this transaction will support us in advancing that mission into our next global stage of development to expand our capabilities and platform for the benefit of our clients and their patients,” said Timothy Miller, president and co-founder of Forge.
For Ajinomoto, the deal extends its global capabilities in AAV and plasmid gene therapy manufacturing, diversifying and strengthening their current contract development and manufacturing services.
“Forge brings to Ajinomoto an entirely new capability that will vitally enhance our Bio-Pharma Services business and help create new value through innovative solutions for communities and society,” said Yasuyuki Otake, corporate executive, general manager of Bio-Pharma Services Department of Ajinomoto Co.
The transaction, which is expected to be completed by the end of the fourth quarter of 2023, is subject to customary closing conditions, including regulatory approvals. Upon completion, Forge will become a fully consolidated subsidiary of Ajinomoto.
Photo: Timothy Miller, president and co-founder of Forge
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