Gene therapy CDMO Forge finds home in Ajinomoto via takeout

Well-funded gene therapy company Forge Biologics will deliver a modest exit for its investors via an acquisition by Ajinomoto, with the Japanese health and food company expanding its biopharma business’ U.S. footprint and gaining AAV and plasmid manufacturing capabilities.

Ajinomoto Co. Inc. (Tokyo:2802) will obtain Forge Biologics Inc.’s 200,000-square-foot manufacturing facility in Columbus, Ohio, and CDMO business, for $554 million in equity. Forge said the agreement valued its enterprise at $620 million on a cash-free and debt-free basis...