Ajinomoto to acquire Forge Biologics

Japan’s Ajinomoto (TYO: 2802) is moving further into the pharma sector with its proposed acquisition of US biotech firm Forge Biologics.

Ajinomoto has agreed to pay $620 million Forge, a leading manufacturer of genetic medicines, in an all-cash deal, which is expected to be completed by the end of this year's fourth quarter.

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 is done at the Hearth, Forge’s 200,000 square foot custom-designed cGMP facility in Columbus, Ohio, where the business has over 300 employees.  Upon completion, Forge will become a fully consolidated subsidiary of Ajinomoto.