One of three co-founders of Forge Biologics Inc. has stepped down after helping lead the startup to Central Ohio's second-largest tech acquisition.
Erandi De Silva, Forge's senior vice president of product development, did not specify her next move in the Monday LinkedIn post announcing her departure as of the end of January.
No other senior leaders are planning to leave under new ownership by Ajinomoto Co., a company spokeswoman confirmed.
"With unwavering conviction, I believe Forge is poised for even more growth as part of a global company with a clear track record and a long-term vision for improving lives," De Silva wrote.
"This marks the right time for me to explore new horizons. I am energized to keep building things in places unexpected and I plan to always do it with the same heart and purpose that guided my endeavors at Forge."
It's not uncommon for founders to leave a startup following an acquisition.
Grove City-based Forge manufactures the biological materials used in gene therapies and is developing its own proprietary treatments for rare inherited diseases. The company has grown to some 330 employees.
Tokyo-based Ajinomoto acquired Forge for more than $600 million on Dec. 21, including $545 million cash to investors, according to third-quarter results released Tuesday. The final value of the deal is subject to upcoming adjustments, the company said. Forge has said the total value of the deal also includes paying down debt.
It's the largest tech acquisition in Central Ohio since McKesson Corp. bought CoverMyMeds for $1.44 billion in 2017.
Forge has annual sales of about $26 million and a net loss of $53 million, according to Ajinomoto's pro forma calculations.
De Silva said a point of pride was that more half of the company's employees are women, as Forge contributed to a growing biotech industry in the region. She advocated for more girls and women to enter fields including science and engineering.
"I find myself in awe of the profound adventure we undertook," she said in the LinkedIn post. "These years have undeniably been the most professionally rewarding of my career."
While not affiliated with Nationwide Children's Hospital, the three founders had ties to its gene therapy program: De Silva was director of program management at the spinout Myonexus Therapeutics Inc., acquired in 2019. CEO Timothy Miller led a different publicly traded spinout, and COO Jaysson Eicholtz previously was the Columbus hospital's director of gene therapy manufacturing.
“Erandi has been an extraordinary co-founder and scientist, and the Forge team and I wish her all the best on her next venture," Miller said in a statement to Columbus Inno.
Before Myonexus, De Silva was biology director for four years at Ohio State University's Drug Development Institute, which seeks to commercialize the school's pharmaceutical research.
Raised in Botswana after her parents emigrated from Sri Lanka, De Silva has a doctorate in molecular biology from Princeton University and bachelor's from Stanford University.
She did postdoctoral research at San Francisco's Genentech before moving to Central Ohio 10 years ago.
De Silva was named to Columbus Business First's 2022 40 Under 40 class, and the industry organization OhioX named her a 2023 Trailblazer, an award for women advancing tech.
