Forge Biologics to be Acquired for $620m by Ajinomoto
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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 prospective takeover is part of Ajinomoto’s strategy to bolster its global expertise in adeno-associated virus (AAV) and plasmid gene therapy production.
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.”
The deal will conclude by the end of the fourth quarter of 2023.
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