Columbus startup Forge Biologics to be acquired for $620 million

Image: Forge Biologics

Forge Biologics, a Columbus-based gene therapy development startup, announced today they're to be acquired by Japanese Ajinomoto Co., Inc. for $620 million.

Forge was founded in 2020 by Timothy J. Miller, Ph.D. (CEO and President), Erandi De Silva, Ph.D. (Senior Vice President of Product Development), and Jaysson Eicholtz (Chief Operating Officer).

Today, Forge employs 300 people and all of the company’s development and manufacturing is done at the Hearth, Forge’s 200,000 square foot facility in Columbus.

The Ajinomoto group is a Tokyo-headquartered food and biotech company with offices in 36 countries and regions. They sell products in over than 130 countries and regions with $10 billion in sales in fiscal year 2022.

Why this matters to Ohio

This is the latest success story for Ohio's tech and startup sector - and it’s a big win for Central Ohio’s growing gene therapy hub.

Forge is an Ohio born and built company. It was backed by Ohio venture capital dollars from Columbus-based Drive Capital. In April 2021, Forge announced the largest (at the time) Series B round in Ohio history for $120 million.

What they're saying

“Forge has had remarkable growth since our founding in 2020, and we’re excited to join Ajinomoto Co., to continue to expand our global business of helping innovators manufacture much needed genetic medicines.”

- Timothy J. Miller, Ph.D., CEO, President, and Co-founder of Forge