Forge Biologics is a hybrid gene therapy-focused contract development and manufacturing organization (CDMO) with a proprietary pipeline of AAV-based novel gene therapies. The company was founded by Tim Miller, the previous Co-founder, CEO and CSO of Abeona Therapeutics. The Forge platform launched in July 2020 with Series A funding led by Perceptive Xontogeny and Drive Capital as founding investors.

Find out how Chardan enabled the growth of this groundbreaking platform

Situation:

• The Chardan team had successfully established a strong relationship with Perceptive Advisors, followed by a formal engagement with Forge to explore strategic and financial opportunities.
• Chardan organized a highly effective non-deal roadshow (NDR) in early 2021, featuring Forge to key investors active in CDMOs and biotech, resulting in robust investor demand to participate in a potential financing round.
• Given clear investor enthusiasm, Chardan led a highly focused financing round, resulting in deep capital commitments by reputable life sciences investors including RA Capital (lead investor), Surveyor Capital (a Citadel Company), Octagon Capital, and Marshall Wace. Perceptive Advisors and Drive Capital also committed significant capital into the round.
• Forge successfully closed an oversubscribed $120 million Series B financing in April 2021 with Chardan acting as its exclusive placement agent.

Chardan Differentiation Leading to Successful Outcome:

• Competent counsel on competitive positioning, scientific messaging, and valuation.
• Unique sectoral insights in CDMOs and gene therapy space.
• Transactional competence and experience in private financings.
• Highly active network with reputable life sciences investors allowing for correct identification of the right parties for outreach.