Business Wire

Forge Biologics Announces Closing of $120 Million Series B Financing

Share

Forge Biologics, a gene therapy-focused contract development and manufacturing organization, today announced the closing of a $120 million Series B financing. The financing was led by RA Capital Management with participation from Perceptive Advisors and related affiliates, Surveyor Capital (a Citadel company), Octagon Capital, and Marshall Wace. Existing investors Perceptive Xontogeny Venture Fund and Drive Capital also participated. In connection with the financing, Matthew Hammond, Ph.D., of RA Capital, and Fred Callori of the Perceptive Xontogeny Venture Fund will join the Company’s Board of Directors.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210429005365/en/

“We are very pleased to be working with RA Capital and a strong syndicate of top-tier life sciences investors who share our vision as we now advance our growth as a global gene therapy manufacturing and development company,” said Timothy J. Miller, Ph.D., CEO, President and Co-Founder of Forge Biologics. “We have built Forge into a focused gene therapy development engine with a firm commitment to helping our clients provide potentially life-saving gene therapies to patients. We believe that focusing entirely on gene therapy will allow us to best serve our clients and patients by efficiently delivering high quality product.”

Forge will use the proceeds of this Series B financing to accelerate the expansion of its AAV manufacturing CDMO capabilities with cGMP production capacity, as well as operate its subsidiaries that are advancing novel AAV gene therapy programs. Forge brings a patients-first approach to accelerate the development of transformative medicines for those who need them most and is addressing the growing demand for gene therapy manufacturing capacity. Through its currently-operational 175,000 square foot cGMP facility in Columbus, Ohio, dedicated to AAV viral vector manufacturing, Forge offers end-to-end manufacturing services, including research and toxicology grade AAV production, to accelerate gene therapy programs from preclinical through clinical and commercial stage manufacturing.

“The success of complex biologics like AAV is exhausting existing manufacturing capacity around the industry. This financing will help to address this industry-wide capacity shortage by properly capitalizing an emerging gene therapy-focused CDMO capable of producing high quality cGMP product for its clients,” said Matthew Hammond, Ph.D., principal at RA Capital Management. “We are confident that Forge’s experienced team will become the trusted partner of innovative therapeutics companies, working collaboratively with clients to successfully deliver AAV manufacturing solutions.”

Through its subsidiaries, Forge is also working to advance a proprietary pipeline of novel gene therapies, including its lead program FBX-101 for the treatment of patients with Krabbe disease, a first-in-human gene therapy utilizing an adeno-associated virus (AAV) to deliver a functioning copy of the GALC gene intravenously to cells in the central nervous system (CNS) and peripheral organs.

Chardan Capital Markets acted as exclusive placement agent for the offering, with Ice Miller acting as legal advisor.

About Forge Biologics

Forge Biologics is a hybrid gene therapy contract manufacturing and therapeutic development company. Forge’s mission is to enable access to life changing gene therapies and help bring them from idea into reality. Forge has a 175,000 square foot facility in Columbus, Ohio, “The Hearth,” to serve as its headquarters. The Hearth is the home of a custom-designed cGMP facility dedicated to AAV viral vector manufacturing and will host end-to-end manufacturing services to accelerate gene therapy programs from preclinical through clinical and commercial stage manufacturing. By taking a patients-first approach, Forge aims to accelerate the timelines of these transformative medicines for those who need them the most.

For more information, please visit https://www.forgebiologics.com.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Media Inquiries:
Dan Salvo
Director of Communications and Community Development
Forge Biologics Inc.
media@forgebiologics.com

Business Development:
Magdalena Tyrpien
Vice President and Head of Business Development
Forge Biologics Inc.
BD@forgebiologics.com

Investor Relations
Christina Perry, MSA, CPA
Vice President, Finance and Investor Relations
Forge Biologics Inc.
Investors@forgebiologics.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Data From Incyte’s Oncology Portfolio Accepted for Presentation at the 2021 EHA Virtual Congress12.5.2021 22:18:00 CEST | Press release

Incyte (Nasdaq:INCY) today announced that multiple abstracts highlighting data from its oncology portfolio will be presented during the upcoming European Hematology Association (EHA) 2021 Virtual Congress, held virtually from June 9-17, 2021. “We are pleased that data highlighting the strength of Incyte’s oncology portfolio and partner-sponsored programs will be presented at this year’s EHA Virtual Congress,” said Peter Langmuir, M.D., Group Vice President, Oncology Targeted Therapeutics, Incyte. “In particular, data being presented at the congress – including the first presentation of data from our Phase 2 study of parsaclisib, our PI3kδ inhibitor, in autoimmune hemolytic anemia; an oral presentation on real-world data for ruxolitinib, our JAK1/JAK2 inhibitor; and an ePoster from our Phase 2 combination study of ruxolitinib and parsaclisib in patients with myelofibrosis – reinforce our commitment to finding solutions for patients with significant unmet medical needs.” Key abstracts ac

Monument Assurance Luxembourg Acquires AME Life Luxembourg ("AMELL") From Covéa12.5.2021 21:55:00 CEST | Press release

Monument Re announced today that, subject to necessary regulatory approval, Monument Assurance Luxembourg will acquire AME Life Luxembourg (“AMELL”) from French Mutual Insurance Group Covéa. AMELL is a well-established Luxembourg-based life insurance company with market presence in Luxembourg, Belgium and Italy. Financial terms of the transaction were not disclosed. The transaction will have no impact on AMELL clients and policyholders. “We are pleased to have reached agreement with Covéa to acquire its subsidiary AMELL. This transaction represents an important step in our consolidation strategy by further strengthening our presence in Luxembourg,” said Manfred Maske, CEO of Monument Re. Change of control of the company will follow satisfaction of customary closing conditions, including receipt of regulatory approvals. For further information: To learn more, please visit our website at www.monumentregroup.com or contact Fiona Davies at info@monumentregroup.com, +1(441) 400-9300. Monume

Raven Industries Launches the OMNi Brand12.5.2021 15:15:00 CEST | Press release

Raven Industries, Inc.(the Company; NASDAQ:RAVN) a leader in agriculture technology, announced today the launch of its new product brand and autonomous growth platform, OMNi. This new product brand highlights Raven’s advancements in autonomous solutions for agriculture with a strategic offering of two integrated products: OMNiDRIVE™ and OMNiPOWER™. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210512005126/en/ The OMNi name (meaning "all") will take center stage within Raven. “Empowering ‘all’ is exactly what OMNiPOWER™ and OMNiDRIVE™ bring to the agriculture industry. OMNi enables holistic, hands-free precision; it gives the farmer total control of their time and maximizes operational productivity and efficiency,” said Nick Langerock, Director of Strategic Marketing for Raven. “As we bring OMNi to market, we want farmers to understand that some of their pain points are now more manageable through autonomous solutions. OMNi

SentinelOne Receives Highest Score for the Type A Use Case (“Lean Forward” Organizations) in the Gartner 2021 Critical Capabilities for Endpoint Protection Platforms12.5.2021 15:00:00 CEST | Press release

SentinelOne, the autonomous cybersecurity platform company, today announced that Gartner has positioned SentinelOne with the highest score in use case Type A in Gartner’s 2021 Critical Capabilities for Endpoint Protection Platforms report1. SentinelOne received the highest score for all three customer types out of 19 vendors. Gartner says, “Type A organizations, also referred to as 'lean forward' organizations, adopt new technologies very early in the adoption cycle.” “We believe receiving the highest product score among early technology adopters in the 2021 Critical Capabilities for Endpoint Protection Platforms validates our commitment to disrupt and broaden the endpoint space,” said Raj Rajamani, Chief Product Officer, SentinelOne. “These organizations tend to focus on innovative solutions that address their business, technology and security needs. Receiving the highest score for 'lean forward' companies highlights our ability to take cybersecurity defenses to new levels of speed, e

New CloudBlue Revenue Management Solution Solves for Recurring Billing Reconciliation12.5.2021 15:00:00 CEST | Press release

CloudBlue, a leading cloud ecosystem technology company, announced today the launch of CloudBlue Rev, a solution that enables partners to ‘rev’ up their channel revenue management. CloudBlue Rev simplifies and streamlines channel revenue management to enhance efficiency, save time and increase profitability. Available now in the United Kingdom with planned rollouts across the world, learn more here. The new solution is based on the recently acquired HarmonyPSA architecture and is the latest addition to CloudBlue’s rapidly expanding portfolio of technologies and services for the channel. CloudBlue Rev helps channel reseller partners regain valuable time as they transition to an everything-as-a-service business by automating quoting, billing and reconciliation. By streamlining these processes into a single platform, resellers will now be able to automate profit tracking across sales motions with integrated discounting and markup, as well as quickly set margins and gain insight into contr

Hiro Capital Leads $6.4m Investment in Game Innovators Twin Suns Corp and FRVR12.5.2021 15:00:00 CEST | Press release

Twin Suns Corp and FRVR will use Hiro’s $6.4m of investment to expand development and to accelerate growth. Twin Suns Corp is a new AAA-game studio, founded by >20-year industry veterans - Tim Longo Jr. (Star Wars: Republic Commando, Halo, Tomb Raider), Forest Swartout Large (Hitman and Tomb Raider), and Jeff Morris (Gears of War and Unreal Tournament). Twin Suns Corp is building a next-gen AAA cross-platform title that will launch an exciting new IP franchise; with additional team members that have worked on Star Wars, Tomb Raider, Hitman, Halo, Elder Scrolls, Fallout, Gears of War, Unreal Tournament and Avengers. FRVR is an instant games ecosystem platform powering frictionless game play on any device, founded by Chris Benjaminsen (Yahoo, PlayerScale) and Brian Meidell (Cape, GameAnalytics) With more than 1bn players, FRVR has partnerships that puts their tech and games onto billions of devices. Twin Suns Corp and FRVR join other creator-founded Games teams Polyarc, Snowprint, Lightf

Nuclera Acquires E Ink Digital Microfluidics Unit12.5.2021 14:53:00 CEST | Press release

Nuclera, a fast-growing biotech company developing enzymatic protein and gene synthesis technologies, and E Ink, the leading innovator of electronic ink technology, are pleased to announce the acquisition of E Ink’s digital microfluidics unit into the newly formed US subsidiary of Nuclera. Combining the technologies of the two companies will enable the delivery of a revolutionary desktop protein and gene “bioprinter” with breakthrough speed and convenience for researchers in human health, agriculture, and other markets of global importance. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210512005575/en/ Nuclera desktop bioprinter powered by digital microfluidic technology. (Photo: Business Wire) Nuclera has been working in a strategic partnership with E Ink since 2018 to deploy Nuclera’s proprietary biopolymer synthesis technologies on E Ink’s digital microfluidic devices. Instead of the physical channels found in convention

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom