Ajinomoto has signed a definitive agreement for the acquisition of contract development and manufacturing organisation and clinical-stage therapeutics company Forge Biologics in an all-cash transaction totalling $620m.
The CDMO focuses on manufacturing viral vector and plasmid-based gene therapies.
Forge carries out its complete development and production activities at Hearth, a 200,000ft² cGMP [current good manufacturing practice] facility in Columbus, Ohio, US.
The prospective takeover is part of Ajinomoto’s strategy to bolster its global expertise in adeno-associated virus (AAV) and plasmid gene therapy production.
This deal will also aid the company in expanding and boosting its existing contract development and manufacturing activities.
The deal will conclude by the end of the fourth quarter of 2023.
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Following closure, Forge will function as a fully consolidated Ajinomoto subsidiary.
Centerview Partners acted as lead financial advisor and Ice Miller served as legal advisor to Forge for the transaction.
Financial advice was provided by Chardan Capital Markets.
Ajinomoto Bio-Pharma Services Department general manager, corporate executive Yasuyuki Otake stated: “Forge’s unparalleled expertise in gene therapy development and manufacturing will be a transformative addition to our core growth area of healthcare as part of our ASV Initiatives 2030 Roadmap.
“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.
“We look forward to working with Forge’s incredibly talented team and state-of-the-art specialised manufacturing facility to expand our platform technologies aimed to help realise Ajinomoto’s purpose of contributing to the well-being of all human beings, our society, and our planet.”
Cell & Gene Therapy coverage on Pharmaceutical Technology is supported by Cytiva.
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