Chardan Acts as Exclusive Placement Agent in Forge Biologics' $120 Million Series B Financing

Funds raised to accelerate expansion of AAV manufacturing CDMO capabilities and advance novel gene therapy pipeline

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Apr 29, 2021, 14:39 ET

NEW YORK, April 29, 2021 /PRNewswire/ -- Chardan, a global investment bank, today announced that it acted as exclusive placement agent in the successful closing of $120 million Series B financing of Forge Biologics, a gene therapy-focused contract development and manufacturing organization.

"We are delighted to support the outstanding team of Forge in the goal of raising capital to further accelerate the expansion of their AAV manufacturing CDMO capabilities, while advancing novel AAV gene therapy programs to provide broader access to life-saving therapies," said Murat Omur, Chardan's Head of Healthcare Investment Banking.

Forge Biologics is led by Timothy J. Miller, Ph.D., as CEO, President and Co-Founder. The Series B financing was led by RA Capital Management with participation from Perceptive Advisors and related affiliates, Surveyor Capital (a Citadel company), Octagon Capital, and Marshall Wace, in addition to existing investors Perceptive Xontogeny Venture Fund and Drive Capital.

Forge will use the proceeds of Series B financing to expand its AAV manufacturing CDMO capabilities with cGMP production capacity, as well as advancing a proprietary pipeline of novel gene therapies through its subsidiaries, including its lead program FBX-101 for the treatment of patients with Krabbe disease, a first-in-human gene therapy utilizing an adeno-associated virus (AAV) to deliver a functioning copy of the GALC gene intravenously to cells in the central nervous system (CNS) and peripheral organs.

This transaction further solidifies Chardan's dedication to company formation and private financing of healthcare companies with novel and differentiated platforms. Other recent private transactions include Passage Bio's $115 million Series A and $110 million Series B, and Taysha Gene Therapies $30 million seed round.

About Chardan

Chardan is an independent global investment bank specializing in healthcare, SPACs and emerging growth companies. Our range of services include capital raising, merger and acquisition advisory, strategic advisory, equity research, corporate access, and institutional trading. Headquartered in New York City, Chardan is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: FINRA, SIPC, NASDAQ and the NYSE Arca, Inc.

Learn more about Chardan at www.chardan.com

Media Inquiries:

Emily Levine, Chardan
[email protected]
(646) 465-9018

Margaret Gaenzle, Prosek Partners
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(804) 714-8848

SOURCE Chardan