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

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

Ipsen Appoints Philippe Lopes-Fernandes as Executive Vice President, Chief Business Officer25.9.2020 08:00:00 EESTPress 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 06:45:00 EESTPress 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

Science, Data, and Facts Should Unite Decision-Making, Says PMI CEO in Speech at Concordia Summit24.9.2020 22:20:00 EESTPress release

André Calantzopoulos, CEO of Philip Morris International (PMI) (NYSE: PM), today delivered high-level remarks at the 2020 Concordia Annual Summit. Calantzopoulos discussed the impact that uncertainty, polarization, hyperpartisanship, and ideology are having on international efforts to overcome pressing global issues. He called for science to be protected from politicization and highlighted the importance of developing open dialogues based on factual scientific objectivity. Calantzopoulos shared PMI’s belief that with the right regulatory encouragement and support from civil society, cigarette sales can end within 10 to 15 years in many countries. The Concordia Annual Summit, which coincides with the United Nations General Assembly (UNGA) meeting, convenes the world’s most prominent business, government, and nonprofit leaders to foster dialogue and enable effective partnerships for positive social impact. Excerpts of the remarks by André Calantzopoulos follow: “Reflecting on the state o

Swiss Medical Group Holding Acquires CoreMedica Europe24.9.2020 18:54:00 EESTPress release

Swiss Medical Group (SMG) Holding Luxembourg S.A., leading the development of STARKS Age-Management in Europe and Asia, announced today the acquisition of CoreMedica Europe, to expand in Europe and the rest of the world. CoreMedica Europe recently made the headlines in Switzerland for combining a COVID-19 Screening Test and Immunity profile with its existing home self-collection kit that allows customers to collect a few drops of blood and send them by mail to CoreMedica Europe’s accredited laboratory in Geneva to screen the anti-SARS-COV-2 IgG antibody and assess any previous infection to SARS-COV-2, the virus responsible for COVID disease, and analyze a set of 5 key biomarkers known to support the immune system (vitamin D, zinc, magnesium, copper, selenium) so as to receive personalized actionable recommendations to help patients build up their natural defenses against the effects of a next potential viral infection. “In this epidemic and containment context the essential objective

Esri and AfroChampions Launch Partnership to Promote GIS in Africa24.9.2020 16:52:00 EESTPress release

Esri, the global leader in location intelligence, today announced a joint initiative with AfroChampions, a Pan-African nonprofit that aims to promote policies that foster private-public collaboration for Africa's economic transformation. The goal of the initiative is to engage leaders in business, governments, the African Union, and other regional economic communities through dialogue and potential partnership building in applying geospatial technology and solutions. This new partnership with AfroChampions seeks to contribute to sustainable economic development in Africa and promote the benefits of a shared geospatial infrastructure throughout the continent. As a majority of Africans still live in rural areas, geographic information system (GIS) technology can create new opportunities for growth, especially in critical fields such as health and telemedicine, land management, agriculture, and mobility. The powerful mapping and data analytics that GIS provides forms a foundation for some

DXC Technology Announces Leadership Appointments to Support the “new DXC"24.9.2020 16:20:00 EESTPress release

DXC Technology (NYSE:DXC) today presented its latest leadership appointments further strengthening the DXC leadership team, the majority being new to DXC within the last year. This team is bringing the “new DXC,” which is focused on its customers and its people, to the market as it executes the company’s transformation journey. DXC Customer Portfolio Leadership Over the past year, CEO Mike Salvino has recruited new IT services industry leaders who bring formidable experience delivering for customers, inspiring people, and running and growing businesses. DXC announces the following appointments and changes to the team that will run DXC’s business and lead execution of the DXC transformation journey: Americas will be led by Jim Brady and David Swift . Jim joined DXC in June 2020 from Accumen, where he was the COO and previously worked at Accenture and Honeywell. David Swift joined DXC in November 2019 from Accolade where he was Chief Service Officer and previously worked at Aon Hewitt an

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