Japan's Ajinomoto to buy US-based Forge Biologics for US$546 million
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 :Japan's Ajinomoto said on Monday it agreed to acquire U.S.-based genetic medicines maker Forge Biologics Holdings for 82.8 billion yen (US$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.
(US$1 = 151.7400 yen)
(Reporting by Mariko Katsumura and Rocky Swift in Tokyo; Editing by Tom Hogue)
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