Business Wire

Forge Biologics Launches with $40 Million Series A Financing to Manufacture and Develop Gene Therapies


Forge Biologics, a viral vector gene therapy manufacturing and development company with the dual platform of CDMO capabilities and the development of proprietary gene therapy products, today announced the closing of a $40 million Series A financing led by the Perceptive Xontogeny Venture Fund (“PXV Fund”) with participation from Drive Capital. Forge will use the proceeds of this financing to expand AAV manufacturing CDMO capabilities in 2020, with cGMP production capacity available by mid-2021, and for the development of a novel gene therapy pipeline.

Forge Biologics is a viral vector CDMO and therapeutics developer, located in a 175,000 ft2 facility in Columbus, Ohio. This facility, referred to as The Hearth, is home to a custom-designed cGMP facility dedicated to AAV viral vector manufacturing, currently capable of up to 50L scale research and toxicology grade AAV manufacturing. By mid-2021, The Hearth will host end-to-end cGMP AAV manufacturing services at 500L scale, enabling biotech and pharma clients the ability to accelerate their gene therapy programs from pre-clinical development through clinical and commercial stage manufacturing.

“Forge is a true gene therapy development engine, bringing together access to viral vector design expertise, quality AAV manufacturing, a management team with significant gene therapy experience, and an exciting pipeline of new therapies for patients,” said Timothy J. Miller, Ph.D., Co-founder, President and CEO of Forge Biologics. “As gene therapy programs continue to demonstrate clinical success, the need for AAV manufacturing has never been greater. Our mission is to enable access to potentially life-saving therapies and help bring them from idea into reality. Furthermore, we are pleased to welcome Perceptive Advisors and their PXV Fund as lead investor in this financing and look forward to benefiting from their deep expertise in the gene therapy and rare disease space.”

In addition to its CDMO capabilities, Forge is developing its own pipeline of innovative gene therapies aimed at treating patients with genetic diseases. Today, Forge announces its lead program, a novel AAV and umbilical cord transplant combination approach to treat infantile Krabbe disease, a devastating neurodegenerative disorder. Krabbe disease has a predicted incidence of about 1 in 12,000 people in the U.S. with symptoms developing in babies and rapidly progressing to death by age two. The combination treatment was pioneered at the University of Pittsburgh in the lab of Maria Escolar, M.D., who joins Forge as Chief Medical Officer. Dr. Escolar is currently a Professor of Pediatrics and Director, Program for the Study of Neurodevelopment in Rare Disorders (NDRD) at University of Pittsburgh and brings a wealth of rare disease and clinical gene therapy experience to the team.

“It is a true privilege to join Forge as Chief Medical Officer to advance FBX-101 as an important treatment for Krabbe patients. The development approach of FBX-101 combines a Umbilical Cord Bone marrow Transplant (UCBT) and AAV gene therapy to comprehensively address both central and peripheral nerve degeneration associated with this disease,” said Dr. Escolar, who also holds equity in Forge. “Importantly, we believe our combination approach has the potential to address some of the immunological safety challenges recently observed in gene therapy clinical trials.” Data from research at the University of Pittsburgh, recently presented data at the American Society for Gene and Cell Therapy annual meeting, demonstrated this combination approach significantly improved efficacy compared to a single AAV administration alone in canines affected with Krabbe disease.

In conjunction with the Series A financing, Chris Garabedian, Manager of the PXV Fund for Perceptive Advisors and CEO of Xontogeny will be joining the Forge Board of Directors as Chairman. “We are excited to have Forge represent the PXV Fund’s first investment in the gene therapy space as we are confident that the Forge team’s previous gene therapy experience will make them a capable and trusted partner for gene therapy drug developers,” said Chris Garabedian. “Given the overwhelming demand for a CDMO that can successfully take a gene therapy program from inception through commercialization, we believe Forge serves the industry in filling this important gap and has the team that can do this successfully.”

Timothy J. Miller, Ph.D. leads a well-established management team of gene therapy veterans with a track record of success. In addition to Maria Escolar, M.D. joining as CMO, the management team includes co-founders Jaysson Eicholtz, Chief Operations Officer, and Erandi De Silva, Ph.D., Chief Strategy Officer. Most notably, Dr. Miller was previously President, CEO and co-founder of Abeona Therapeutics, Jaysson Eicholtz was previously responsible for Nationwide Children’s Hospital’s gene therapy manufacturing facility, and Dr. Silva was previously head of Program Management at Myonexus Therapeutics.

For more information, please visit

About Forge Biologics

Forge Biologics is a gene therapy development engine, focused on enabling access to life changing gene therapies. Forge aims to bring a patients-first approach to accelerate transformative medicines for those who need them most and is building capacity to address the growing demand for gene therapy manufacturing. Through its state-of-the-art, 175,000 ft2 cGMP facility, dedicated to AAV viral vector production, Forge offers end-to-end capabilities to accelerate gene therapy programs from preclinical stage through clinical, and on to commercial-scale production. With this facility as its foundation, Forge is developing a proprietary pipeline of disease-modifying AAV-based therapies to potentially help patients with rare genetic diseases.

About Perceptive Xontogeny Venture Fund

Established in 2018, the Perceptive Xontogeny Venture Fund (PXV Fund) focuses purely on private investments in early stage life sciences companies. A primary source of investments for the PXV Fund are companies that are seeded, incubated, and/or actively managed by Xontogeny, a life sciences accelerator that provides experienced operational support to successfully and efficiently advance early stage companies. The PXV Fund is an affiliate of Perceptive Advisors, a New York City-based investment management firm founded in 1999 and focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare. For more information about Perceptive, visit

Contact information

Media Inquiries:

Katie Gallagher

Dan Salvo
Forge Biologics
Director of Communications and Community Development

Business Inquiries:

Erandi de Silva, Ph.D.
Forge Biologics
Chief Strategy Officer

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

BCG Collaborates with Tencent Marketing Insight to Release 2020 BCG x Tencent Digital Luxury Report25.9.2020 12:21:00 CESTPress release

Since early 2020 when the COVID-19 pandemic broke out worldwide, the luxury market has been hit hard and is expected to decline 25% to 45% compared to the previous year. The Chinese luxury market, however, which has benefitted from successful domestic control of the pandemic and has taken the lead in recovery against a depressed global market environment, is forecast to grow from 20% to 30% in the whole year of 2020. Thanks to its stunning market performance, China has become the main battleground of each major luxury brand. In was in this environment that Boston Consulting Group (BCG) joined hands with Tencent Marketing Insight (TMI) to release the 2020 BCG x Tencent Digital Luxury Report, drawing on deep insights into post COVID-19 trends in the luxury market and consumers based on BCG and TMI’s quantitative consumer research and industry experience, as well as TMI’s marketing and big data capabilities. Crystal Hao, Managing Director & Partner of BCG said, “The luxury market in China

U.S. MRTP Authorization Pathway Explored in PMI’s Latest Scientific Update25.9.2020 12:15:00 CESTPress release

Philip Morris International (PMI) (NYSE: PM) has released the 11th edition of its Scientific Update, a regularly issued publication on its research efforts to develop and scientifically assess a range of smoke-free alternatives to cigarettes. The latest edition features an overview of the historic decision made by the U.S. Food and Drug Administration (FDA) to authorize the marketing of the IQOS Tobacco Heating System with reduced exposure information. The Scientific Update explains the various MRTP decisions under U.S. law; the steps, processes, and timeline PMI undertook; and the ongoing post-market surveillance and studies that will monitor the impact of the orders on consumer perceptions, behavior, and health. “The FDA undertook a scientific and regulatory evaluation of IQOS and determined that it is ‘appropriate for the promotion of public health’” said Dr. Gizelle Baker, director of Global Scientific Engagement at PMI. “In this edition of our Scientific Update, we describe how th

Palladio Completes $20 Million Series B Financing25.9.2020 12:09:00 CESTPress release

Palladio Biosciences, Inc. (Palladio), a privately-held, clinical stage biopharmaceutical company developing medicines for orphan diseases of the kidney, announced today the completion of a $20 million Series B investment. The financing was led by new investor, Samsara BioCapital, with participation from new investor, the Roche Venture Fund and existing investors, Medicxi and Osage University Partners. Proceeds from the financing will fund Palladio’s Phase 3 ALERT Study and advance operations. Srinivas Akkaraju M.D, Ph.D, Managing General Partner of Samsara BioCapital, stated, "We are very excited about our investment in Palladio to support the development of lixivaptan, a drug that has the potential to deliver a meaningful therapeutic advancement in the treatment of Autosomal Dominant Polycystic Kidney Disease (ADPKD). The ALERT Study is an important step in assessing the safety differential of lixivaptan.” “We are very pleased that Samsara and the Roche Venture Fund recognize the opp

Ant Group Launches “Trusple,” an AntChain-Powered Global Trade and Financial Services Platform for SMEs and Financial Institutions25.9.2020 09:54:00 CESTPress release

Ant Group, a leading provider in the development of open platforms for technology-driven inclusive financial services, and the parent company of China’s largest digital payment platform Alipay, today unveiled Trusple, an international trade and financial service platform powered by AntChain, the company’s blockchain-based technology solutions. Trusple aims to make it easier and less costly for all participants – especially Small-to-Medium Enterprises (SMEs) – to sell their products and services to customers around the world. It also reduces costs for financial institutions so they can better serve SMEs in need. This press release features multimedia. View the full release here: (Photo: Business Wire) Based on the concept of “Trust Made Simple,” Trusple works by generating a smart contract once a buyer and a seller upload a trading order on the platform. As the order is executed, the smart contract is automatically updated with k

Ipsen Appoints Philippe Lopes-Fernandes as Executive Vice President, Chief Business Officer25.9.2020 07:00:00 CESTPress release

Regulatory News: This press release features multimedia. View the full release here: Philippe Lopes-Fernandes, Executive Vice President, Chief Business Officer, Ipsen (Photo: Business Wire) Ipsen (Euronext: IPN; ADR: IPSEY) today announced the appointment of Philippe Lopes-Fernandes as Executive Vice President, Chief Business Officer, effective 1 October 2020. Based in Cambridge, Massachusetts, USA, he will be responsible for business development and alliance management, reporting directly to David Loew, CEO, Ipsen. Philippe will serve on the Executive Leadership Team. “As Chief Business Officer, Philippe will play a crucial role in our external innovation strategy. The ELT and I are delighted to welcome Philippe to Ipsen and look forward to working closely with him. His extensive and impressive track record in international business development, his outstanding reputation and his ability to work closely with the scientific comm

Deloitte Launches < "The Next Wave" Emerging Digital Life in South and Southeast Asia > Report At Ant Group’s INCLUSION Fintech Conference25.9.2020 05:45:00 CESTPress release

Deloitte launched <"The Next Wave" Emerging Digital Life in South and Southeast Asia > Report today at the INCLUSION Fintech Conference, organized by Ant Group and Alipay to foster a global dialogue on building a more inclusive, green, and sustainable world through digital technology. This press release features multimedia. View the full release here: (Graphic: Business Wire) Through an extensive survey conducted across age groups in eight countries in South and Southeast Asia, specifically Singapore, Malaysia, Thailand, Indonesia, the Philippines, India, Bangladesh and Pakistan, the report showed that consumers aged between 21 and 40 years old are the leading force enabling the rapid adoption of a digital life in the region in the post Covid-19 world. Speaking at one of the media forums on Day 2 of INCLUSION, Taylor Lam, Technology, Media & Telecommunications Industry Leader at Deloitte China, said: “Young and vibrant economies

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