Forge Biologics, a gene therapy-focused contract development and manufacturing organization, 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.”
