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

Ajinomoto Co

13/11/2023 07:06

(Adds details from 3rd paragraph)
       TOKYO, Nov 13 (Reuters) - Japan's Ajinomoto  2802.T 
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. 
    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)

 (Reporting by Mariko Katsumura and Rocky Swift in Tokyo;
Editing by Tom Hogue)
 ((Mariko.Katsumura@thomsonreuters.com;))