Forge Biologics Inc. raises $120M in largest Series B ever in Ohio

Grove City biotech firm Forge Biologics, which launched in July 2020, “announced a $120 million venture capital round toward expanding its manufacturing capacity,” the largest Series B ever in Ohio, Columbus Business First reports. Forge has already “started production and landed research clients for its manufacturing division,” which “makes modified versions of non-disease causing viruses that insert corrected copies of missing genes to treat rare inherited conditions,” according to the article. Michael Triplett, CEO of Armatus Bio Inc., a new gene therapy company in Columbus, said “Forge’s success attracting experienced biotech investors RA Capital and Perceptive to Central Ohio, as well as prompting Drive Capital to invest for the first time in Columbus, represents a ‘significant catalyst’ for the region.” For more, read the full article.

Economic Development, State Updates