Wheeler Bio Secures $35M in Oversubscribed Series A-1 Round to Drive Expansion and Growth
Wheeler Bio, a pioneering contract development and manufacturing organization (CDMO) specializing in process development and current Good Manufacturing Practice (cGMP) manufacturing of antibody-based therapies, has successfully closed an oversubscribed Series A-1 financing round. The company secured $35 million in funding, marking a significant milestone in its journey toward expanding capabilities and furthering its impact in the biopharmaceutical sector.
Strategic Investment and Key Players
The Series A-1 round was led by Alloy Therapeutics and Echo Investment Capital (Echo), with additional participation from Mitsubishi Corporation (Americas), Germin8 Ventures, and Russell Westbrook Enterprises. The investment reflects strong confidence from both existing and new investors in Wheeler Bio’s vision and growth trajectory.
As a high-science, high-touch CDMO, Wheeler Bio is built on its foundational scientific platform, Modular CMC, designed to streamline and enhance the clinical and commercial development of antibody-based therapeutics. The newly secured funding will bolster Wheeler Bio’s ability to serve its clients effectively, broaden its capabilities, and lay the groundwork for future expansion.
Expansion Plans and Infrastructure Development
One of the most significant initiatives made possible by this investment is the planning and development of a large-scale biologics manufacturing facility spanning 52,000 square feet. This facility will be located adjacent to the Biomanufacturing Workforce Training Center (BioTC) at Convergence, within the Oklahoma City Innovation District. The expansion is a testament to Wheeler Bio’s commitment to growing its operational capabilities while strengthening the local biomanufacturing ecosystem.
By establishing this cutting-edge facility, Wheeler Bio aims to enhance its ability to support partners in their drug development journeys, ensuring efficient and high-quality production of antibody-based therapeutics. The proximity to BioTC further reinforces Wheeler’s dedication to fostering workforce development and addressing the growing demand for skilled professionals in the biotechnology and biomanufacturing sectors.
Leadership Perspectives on the Investment and Growth Trajectory
Patrick Lucy, President and Chief Executive Officer of Wheeler Bio, emphasized the transformative impact of the investment:
“This investment will fuel Wheeler’s ongoing efforts to expand its partner base, team, and capabilities in order to accelerate the advancement of our partners’ therapies. Wheeler’s scientific team and Modular CMC platform, coupled with our customer-intimate approach, is well-positioned to enable our partners through clinical and commercial manufacturing.”
Lucy’s vision underscores Wheeler Bio’s commitment to fostering strong partnerships and leveraging scientific innovation to drive progress in the industry.
Echoing this sentiment, Errik Anderson, Founder and CEO of Alloy Therapeutics, highlighted the strategic importance of Wheeler Bio’s growth:
“This investment accelerates Wheeler Bio’s growth and expands its ability to deliver high-quality CMC services for antibody-based therapies. Alloy has supported Wheeler since its inception, and as the company has honed its overall strategy and advanced its cGMP capabilities under Patrick Lucy’s proven leadership, we are deepening our commitment. Wheeler has a clear path to expanded capabilities and large-scale production, and we’re excited to continue supporting its growth and impact on drug development.”
The strong backing from Alloy Therapeutics underscores the company’s belief in Wheeler Bio’s potential to significantly impact the landscape of biopharmaceutical manufacturing.
Expanding the Reach of Biopharmaceutical Innovation
Christian Kanady, Co-Founder of Wheeler Bio and Founding Partner and CEO of Echo, elaborated on the broader significance of the funding:
“Wheeler Bio continues to redefine the art of the possible for drug development in the United States. This impressive line-up of investors symbolizes both deepened and new partnerships that will be significant as Wheeler accelerates growth and ultimately scales its footprint in Oklahoma City and beyond.”
The expansion of Wheeler Bio’s footprint in Oklahoma City is not only a win for the company but also a boon for the broader biopharmaceutical ecosystem. By investing in state-of-the-art infrastructure and strategic partnerships, Wheeler Bio is poised to drive innovation, attract top talent, and contribute to the development of novel therapies that improve patient outcomes.
Meeting the Growing Demand for Biomanufacturing Capabilities
The increasing demand for efficient, high-quality biomanufacturing solutions has underscored the need for platforms that facilitate the seamless transition from research to clinical application. Wheeler Bio is uniquely positioned to meet this need, as highlighted by Takahiro Tokuda, Healthcare Division COO at Mitsubishi Corporation:
“Wheeler Bio is perfectly positioned to meet the growing demand for platforms that accelerate the transition from bench to bedside. We are excited for this collaboration so that Wheeler Bio can perform a crucial role in creating an infrastructure to support biotechnology companies that have innovative ideas significantly improving patient quality of life.”
Mitsubishi Corporation’s participation in the funding round reflects a shared commitment to advancing biotechnology and ensuring that promising therapies can reach patients efficiently and safely.
The Role of Modular CMC in Wheeler Bio’s Strategy
At the heart of Wheeler Bio’s approach is its Modular CMC platform, which plays a crucial role in streamlining the clinical development and manufacturing process. This platform is designed to enable biotech companies to accelerate the advancement of antibody-based therapies while maintaining stringent quality and regulatory standards.
By leveraging Modular CMC, Wheeler Bio offers its partners a comprehensive solution that integrates process development, analytical characterization, and manufacturing, ultimately reducing time-to-market and improving efficiency. This innovative model is a key differentiator for Wheeler Bio, making it a preferred partner for companies seeking a streamlined and scientifically rigorous approach to biologics development.
Future Outlook and Industry Impact
With the completion of this oversubscribed $35 million Series A-1 financing round, Wheeler Bio is entering a new phase of growth that will allow it to expand its capabilities, enhance its service offerings, and solidify its position as a leader in the CDMO space.
The upcoming large-scale manufacturing facility in Oklahoma City will serve as a cornerstone of this expansion, providing the necessary infrastructure to support increased production demands and foster innovation in biologics manufacturing. Moreover, the company’s strategic partnerships with investors and industry leaders will ensure that it remains at the forefront of scientific and technological advancements.
Wheeler Bio’s commitment to excellence, innovation, and collaboration positions it as a transformative force in the biopharmaceutical industry. As the demand for high-quality antibody-based therapeutics continues to grow, Wheeler Bio is well-equipped to meet the needs of its partners and contribute to the development of life-changing therapies.
The successful completion of the Series A-1 financing round marks a significant milestone for, reinforcing its mission to drive innovation and growth in the biopharmaceutical sector. With the support of its investors and strategic partners, Wheeler Bio is poised to make a lasting impact on drug development, manufacturing, and patient care.
As the company embarks on this exciting new chapter, it remains dedicated to advancing the science of biologics manufacturing, supporting its partners, and ultimately improving global healthcare outcomes through the power of biotechnology.
