Forge Biologics Announces $90 Million Series C Financing to Expand Client Offerings and Add Services to Enhance End-to-End Gene Therapy Manufacturing Platforms
12.9.2022 15:00:00 EEST | Business Wire | Press release
Forge Biologics, a gene therapy-focused contract development and manufacturing organization, today announced that it has raised $90 million in a Series C financing, bringing its total funding raised to date to $330 million. The current round was co-led by Drive Capital and Aisling Capital with an additional undisclosed strategic investor.
“We continue our ambitious mission to enable access to life changing gene therapies by fulfilling a key goal of bringing them from concept to reality,” said Timothy J. Miller, Ph.D., CEO, President, and Co-Founder of Forge Biologics. “To deliver on that mission, we’ve made great strides in our facility development, technology advancement, and hiring expansion. These new funds will help support this next measured phase of our growth focused on delivering new services to our clients so that we can support them from idea to impact. Each advancement we make goes towards serving our clients and their patient communities, and we are grateful to our investors for their confidence in our mission.”
The Company will use the funding to expand client offerings, including proprietary technologies, manufacturing systems, cell lines, and additional services to bolster its end-to-end manufacturing platform. Through the Company’s 200,000 square foot cGMP facility dedicated to AAV viral vector manufacturing, Forge will expand the number of offerings available to clients to help scale gene therapy programs from research to clinical and commercial manufacturing in its 20 cGMP suites utilizing its operational 50L, 500L, 1,000L and 5,000L bioreactors.
“Forge has grown tremendously over the last two years, hiring experienced talent and scaling the facility, technology, and client offerings according to their unique hybrid business model,” said Molly Bonakdarpour, General Partner at Drive Capital. “We believe that Forge is becoming an established leader in gene therapy manufacturing, consistent with Drive Capital’s focus to build and support market-defining companies.”
“We have confidence in the caliber of leadership at Forge, their technical expertise at all levels, and the meticulous attention to detail in every facet of the business,” said Andrew Schiff, M.D., Managing Partner at Aisling Capital. “The gene therapy industry has been constrained by technical, operational, and capacity constraints, and Forge is poised to tackle each of those areas to alleviate the manufacturing bottleneck as they set out to do.”
Recent Milestones Reached
Technology:
- Hired notable talent for key technical roles with gene therapy-specific expertise: Agnieszka Gornicka, Ph.D., Director, GMP Manufacturing; Ganesh Krishnamoorthy, Associate Director, Process Development
- Scaled the Company’s proprietary HEK 293 suspension platform process from 50L to 1000L
- Integrated new systems into its platform process such as single-use chromatography and automated fill-finish
Facility Expansion:
- Increased overall manufacturing footprint to over 200,000 square feet; buildout includes 20 cGMP suites utilizing 50L, 500L, 1,000L, and 5,000L bioreactors, with additional cGMP suites planned
Manufacturing Expertise:
- Formed an independent board of preeminent experts, a Scientific and Manufacturing Advisory Board (SMAB), to advise the Company on its gene therapy manufacturing offerings and therapeutics pipeline development with a distinct and strategic emphasis on manufacturing advancements
About Forge Biologics
Forge Biologics is a hybrid gene therapy contract manufacturing and clinical-stage therapeutics development company. Forge’s mission is to enable access to life changing gene therapies and help bring them from idea to reality. Forge’s 200,000 square foot facility utilizes 20 cGMP suites in Columbus, Ohio, the Hearth, to serve as its headquarters. The Hearth is a custom-designed cGMP facility focused on AAV manufacturing and can 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. To learn more, visit www.forgebiologics.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220912005350/en/
Contact information
Media Inquiries
Marina Corleto
Senior Manager, Marketing and Communications
media@forgebiologics.com
Investor Relations
Christina Perry
Senior Vice President, Finance and Investor Relations
Investors@forgebiologics.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
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
Esri Earns ISO Certification, Reinforcing Commitment to Data Security29.1.2026 15:00:00 EET | Press release
Esri, the global leader in location intelligence, has received ISO/IEC 27001:2022 certification. This certification enables Esri's ArcGIS users to meet data residency and local regulatory requirements and ensures that Esri’s security practices comply with the requirements set by the International Organization for Standardization (ISO). ISO/IEC 27001:2022 certification provides a globally recognized framework for establishing, implementing, maintaining, and continually improving an information security management system. Esri's certification demonstrates that its system preserves the confidentiality, integrity, and availability of the platforms, services, and applications used to process, transmit, and store customer assets. "As enterprises simultaneously navigate escalating cyber threats and complex data residency regulations, our certification provides critical assurance that we maintain the rigorous security standards required today," said Michael Young, Esri, CISO-Products. "And esp
NTT DATA Signs Strategic Collaboration Agreement with AWS to Accelerate Enterprise Cloud and Agentic AI Adoption29.1.2026 15:00:00 EET | Press release
NTT DATA, a global leader in AI, digital business and technology services, today announced a multi-year Strategic Collaboration Agreement (SCA) with Amazon Web Services (AWS) to help enterprises modernize legacy systems, adopt agentic AI responsibly and scale innovation across industries. Combining NTT DATA’s expertise in cloud transformation, cloud-native modernization and Agentic AI with the scale and innovation velocity of AWS services, the collaboration will deliver tailored enterprise solutions that modernize mission-critical workloads, build secure cloud foundations and drive measurable business outcomes across regulated and high-growth industries. Under the agreement, NTT DATA and AWS will accelerate enterprise transformation in four priority areas: AI-driven large-scale cloud transformation: Accelerating the migration and modernization of on-premises workloads on AWS, leveraging generative and agentic AI, automation and data platforms to unlock new business models and drive int
U.S. Department of Energy and Kyoto Fusioneering Launch Strategic Partnership to Build Critical Fusion Infrastructure and Accelerate Deployment of Commercial Fusion Power29.1.2026 15:00:00 EET | Press release
Today, the U.S. Department of Energy (DOE) and Kyoto Fusioneering (KF) established a landmark partnership to deliver critical fusion infrastructure and perform collaborative R&D to drive down technology and commercialization risk. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260127164854/en/ Anchored by a new public-private partnership between KF and Oak Ridge National Laboratory (ORNL) that leverages each institution’s expertise in fusion technology to develop world-leading fusion test facilities and technology, this agreement establishes a new paradigm in U.S.-Japan allied cooperation and public-private partnership towards accelerating the deployment of commercial fusion power. Under the new partnership, KF and ORNL will commence joint research and development activities focused on fusion breeding blanket systems, a critical technology for producing the tritium fuel needed to sustain fusion power generation. This include
IDDI Reveals New Brand & Celebrates 35 Years of Clinical Data Science Excellence29.1.2026 14:00:00 EET | Press release
IDDI, a global clinical data science partner with more than 35 years of proven quality, today announced the launch of its refreshed brand. The new brand highlights the company’s continued focus on patients and commitment to innovation while honoring its legacy of scientific rigor. The launch coincides with IDDI’s 35-year anniversary and will debut publicly at the SCOPE Summit on Feb. 2, 2026. Biomedical research is shifting toward more complex trials and advanced analytics. But, as one survey revealed, only 46% of life science leaders are fully confident their organization’s data are consistently available and accurate. IDDI’s new brand reinforces that their services are the solution, explaining how they deliver high-quality data and mitigate risk from design to registration and beyond. “Reaching 35 years is an important milestone, not only because of our longevity, but because of the impact we’ve had,” said Marc Buyse, ScD, founder and CEO of IDDI. “Our new brand reflects the heart of
NIQ Launches Breakthrough Framework That Exposes Billions Lost to the Say–Do Gap29.1.2026 14:00:00 EET | Press release
NielsenIQ (NYSE: NIQ) today announced the launch of its Say–Do Gap Measurement Framework, an innovative behavioral metric set to transform how brands and retailers understand modern consumers and navigate a pressing challenge: consumers who say one thing but buy another. With economic uncertainty, shifting priorities, and increasingly value‑driven decision-making changing consumer habits, this growing disconnect has cost the industry more than 13 billion unit sales over the past five years—losses many companies can no longer afford to overlook. By unifying deep attitudinal insights with verified purchase data across 25+ global markets, the Say–Do Framework bridges this gap and exposes where brands are losing momentum, where unmet demand is hiding, and where opportunity is silently compounding. Brands and retailers can now quantify the gap between what consumers believe and what they buy, and market or create products that deliver value with the correct consumer, maximize price retentio
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