January 11, 2022 -- Forge Biologics has secured $80 million in new financing to support its 2022 manufacturing expansion. The expansion will coincide with new client offerings, an accelerated increase in employee headcount, and expansion of its facility in Columbus, Ohio.
An increased bioreactor capacity for clients will be supported by continued growth in staffing as the company grows toward 400 employees, according to the firm. Forge initiated the facility expansion in 2021 and is increasing the overall manufacturing footprint of the company to over 200,000 sq ft of facility space, including 20 current good manufacturing practice (cGMP) manufacturing suites, with the ability to add more suites in the future.
The ongoing facility expansion significantly increases the number and capacity of Forge's bioreactors, including installation of 5,000-L cGMP bioreactors for large-scale client needs in clinical and commercial programs using Forge's proprietary suspension HEK 293 cell line.
The expansion also adds automated cGMP fill-finish capabilities to Forge's offerings, designed with a cleanroom background classification that meets the European Medicines Agency's requirements for late-stage clinical and commercial filling needs. The 5,000-L bioreactors and automated filling systems are expected to be available for client use in the second half of 2022.
The nondilutive financing was provided by MidCap Financial. The additional funding brings Forge's total financing to approximately $240 million. Forge previously secured $160 million in two prior rounds, with the closing of a $40 million series A financing round in July 2020 and a $120 million series B round in April 2021.
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