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Ajinomoto’s $546M Acquisition of US-based Forge Biologics
Japan’s Ajinomoto is set to acquire U.S.-based Forge Biologics for $546 million. The deal, pending regulatory approval, is expected to be completed in December 2023. Ajinomoto plans to integrate Forge into its AminoScience platform to advance treatments for rare diseases.
Japan’s Ajinomoto agreed to acquire U.S.-based genetic medicines maker Forge Biologics Holdings for 82.8 billion yen ($546 million).
The transaction is expected to be completed in December 2023 pending regulatory approvals, Ajinomoto said a release.
Ajinomoto, whose primary business is in seasonings and processed foods, has a healthcare segment that focuses on drugs derived from amino acids.
Forge, based in the U.S. state of Ohio, is a contract development and manufacturing organization (CDMO) for gene-based therapies. Ajinomoto said Forge will integrate with its own AminoScience platform to work on new treatment options for rare diseases.
($1 = 151.7400 yen)
Source: Reuters