Japan’s Ajinomoto agreed to acquire U.S.-based genetic medicines maker Forge Biologics Holdings for 82.8 billion yen ($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.
($1 = 151.7400 yen)