Ajinomoto to acquire Forge Biologics for $620m to enhance genetic medicine capabilities

Ajinomoto Co., Inc., a prominent player in the biotechnology industry, has entered into a definitive agreement to acquire Forge Biologics, a leading genetic medicines manufacturer, in a significant all-cash deal valued at $620 million.

Strategic Significance of the Acquisition

Forge Biologics, a viral vector and plasmid contract development and manufacturing organization (CDMO) and clinical-stage therapeutics company, is recognized for its advanced gene therapy manufacturing capabilities. The acquisition will significantly expand Ajinomoto Co.’s healthcare division, aligning with their ASV Initiatives 2030 Roadmap for growth.

Leaders’ Perspectives on the Deal

Timothy J. Miller, Ph.D., CEO, President, and Co-founder of Forge Biologics, expressed excitement about the acquisition, emphasizing the shared commitment to innovation and the expansion of global business in genetic medicines. Yasuyuki Otake, Corporate Executive and General Manager of Bio-Pharma Services Department of Ajinomoto Co., highlighted the transformative addition of Forge’s expertise to Ajinomoto’s biopharma services.

Transaction Details and Future Outlook

The transaction is expected to be finalized by the end of the fourth quarter of 2023, pending customary closing conditions and regulatory approvals. Upon completion, Forge Biologics will become a fully consolidated subsidiary of Ajinomoto Co., Inc. The acquisition is anticipated to maximize Forge’s impact in the gene therapy field and enhance Ajinomoto’s capabilities in providing innovative solutions for communities and society.

Conclusion

This acquisition marks a significant step for Ajinomoto Co., Inc. in its mission to contribute to the well-being of all human beings, society, and the planet, through innovative healthcare solutions. It reflects the dynamic nature of the biotech market and the growing importance of genetic medicine in healthcare.