OKLAHOMA CITY–(BUSINESS WIRE)–Wheeler Bio, an innovative contract development and manufacturing organization (CDMO) specializing in process development and cGMP manufacturing of antibody-based therapies, announced the closing of an oversubscribed Series A-1 financing round. The $35 million round was led by Alloy Therapeutics and Echo Investment Capital (Echo), with participation from Mitsubishi Corporation (Americas), Germin8 Ventures, and Russell Westbrook Enterprises.
Wheeler Bio is a high science, high touch CDMO built upon its foundational scientific platform, Modular CMC. Along with supporting the ongoing success of clients, this financing will broaden Wheeler’s capabilities and pave the way for future growth – including planning the build-out of a 52,000 square foot large scale biologics manufacturing facility adjacent to a biomanufacturing workforce training center (BioTC) at Convergence in the Oklahoma City Innovation District.
“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,” said Patrick Lucy, President and Chief Executive Officer of Wheeler Bio. “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.”
“This investment accelerates Wheeler Bio’s growth and expands its ability to deliver high-quality CMC services for antibody-based therapies,” said Errik Anderson, Founder and CEO of Alloy Therapeutics. “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, we’re excited to continue supporting its growth and impact on drug development.”
“Wheeler Bio continues to redefine the art of the possible for drug development in the United States,” said Christian Kanady, Co-Founder of Wheeler Bio and Founding Partner and CEO of Echo. “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.”
“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,” said Takahiro Tokuda, Healthcare Division COO, Mitsubishi Corporation.
About Wheeler Bio, Inc.
Wheeler Bio is an innovative biopharmaceutical contract development and manufacturing organization (CDMO) founded by a team of industry experts and strategic investors who believe a high science/high touch CDMO model is needed to enable innovators to advance programs more efficiently.
Through its unique scientific platform Modular CMC, Wheeler Bio revolutionizes the speed of drug development by enabling the rapid advancement of antibody-based therapeutic candidates from discovery into human clinical trials while establishing a robust chemistry, manufacturing, and controls (CMC) package vital for regulatory filings and ongoing cGMP manufacturing. This includes a full complement of integrated services including manufacturability assessments, stable pool and clone development, process and analytical method development, process demonstration, technology transfer and cGMP manufacturing.
Wheeler Bio is headquartered in Oklahoma City, which has long been a hub of production, distribution, and business services. Key advantages include consistently lower business costs and a growing biomanufacturing workforce. In 2022, the Oklahoma Biotech Innovation Cluster was awarded $35M by the U.S. Economic Development Administration to advance the Oklahoma City region’s emerging bioeconomy, including specific funding for biomanufacturing workforce development and bioprocessing core labs.
Join the Wheeler Bio community by visiting wheelerbio.com or following the company on LinkedIn.
Contacts
For Further Information:
Wheeler Bio, Inc.
Contact: Jaden Polston
[email protected]
