Ajinomoto Reports the Acquisitions of Forge Biologics for ~$620M
Shots:
- Under the terms of the agreement, Ajinomoto will acquire Forge Biologics for ~$620M in cash. The deal is subject to closing conditions incl. regulatory clearances and is anticipated to close by the end of Q4’2023
- Forge to become a fully integrated subsidiary of Ajinomoto, the purchase price payable to Forge’s shareholder (equity value) is expected to be adjusted at the time of execution, and it is currently estimated to be around ~$554M
- Forge is a clinical-stage therapeutics firm that develops and manufactures plasmids and viral vectors, facilitating access to potentially life-changing gene therapies
Ref: Forge Biologics | Image: Forge Biologics
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Shivani is a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
