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Japan's Ajinomoto to buy US-based Forge Biologics for $546 million

Published 11/13/2023, 01:51 AM
Updated 11/13/2023, 02:10 AM
© Reuters. Ajinomoto Co. displays the company's leading product 'Ajinomoto Monosodium Glutamate Seasoning' at AJINOMOTO Umami Science Square in Kawasaki, Japan March 18, 2019. REUTERS/Yoshiyasu Shida/File Photo

TOKYO (Reuters) -Japan's Ajinomoto said on Monday it 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.

© Reuters. Ajinomoto Co. displays the company's leading product 'Ajinomoto Monosodium Glutamate Seasoning' at AJINOMOTO Umami Science Square in Kawasaki, Japan March 18, 2019. REUTERS/Yoshiyasu Shida/File Photo

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)

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