Chris Garabedian: I’m thrilled to announce this acquisition of Forge Biologics by Ajinomoto in what is a win-win transaction for the industry in the CDMO space

Chris Garabedian, Chairman and CEO of Xontogeny, recently shared on LinkedIn:

“I’m thrilled to announce this acquisition of Forge Biologics by Ajinomoto Co., Inc. in what is a win-win transaction for the industry in the CDMO space! It was a privilege to serve as Chairman of the Board and to watch Timothy J. Miller, Ph.D. (he/him) (along with co-founders Erandi De Silva, Ph.D. and M. Jayson Eicholtz, along with initial seed investor Molly Bonakdarpour of Drive Capital) turn an idea and an empty warehouse in Columbus, Ohio that Tim presented to me and Gianna Hoffman-Luca in mid-2020 into a best-in-class CDMO for AAV-vector gene therapy. Weeks after that initial presentation, we decided to lead the Series A financing and Forge became our largest investment in our inaugural Perceptive Advisors Xontogeny’s PXV Fund I. In the early days of an investment in this space, one is really making a bet that the CEO can execute on the vision, attract the right talent, and be capital efficient on the path toward value creation. I can honestly say that Tim Miller delivered on everything he said he would and then some. I didn’t know he would also set a new standard for branding and marketing in the CDMO space and would build a corporate culture that serves as a Master Class for our industry. At a time when Forge was ready to scale their offerings and broaden their client base, Forge found the right partner in Ajinomoto to continue their growth trajectory and meet their long-term objectives. It has been a real pleasure to be part of the Forge journey, along with fellow Board Members, Fred Callori, Matthew Hammond, and Molly Bodakdarpour. Congrats to Tim and the entire Forge team!”

For details click here.
Source: Chris Garabedian/LinkedIn