Wheeler Bio Raises $35M in Oversubscribed Series, Plans Expansion
Wheeler Bio, a pioneering contract development and manufacturing organization (CDMO) specializing in process development and cGMP manufacturing of antibody-based therapies, has successfully closed an oversubscribed Series A-1 financing round, raising $35 million. The round was led by Alloy Therapeutics and Echo Investment Capital (Echo), with additional participation from Mitsubishi Corporation (Americas), Germin8 Ventures, and Russell Westbrook Enterprises. This funding marks a significant milestone for Wheeler Bio as it aims to expand its operations, strengthen its partnerships, and accelerate the development of innovative biotherapeutics.
Strengthening Wheeler Bio’s Growth and Capabilities
The infusion of capital will enable Wheeler Bio to advance its scientific platform, Modular CMC, and enhance its ability to support clients throughout the development and manufacturing processes. With a commitment to providing high-touch, high-science solutions, Wheeler Bio is poised to meet the evolving needs of biotechnology companies by facilitating a seamless transition from discovery to clinical development.
As part of its expansion strategy, Wheeler Bio plans to build a 52,000-square-foot large-scale biologics manufacturing facility in Oklahoma City. This new facility will be located adjacent to a biomanufacturing workforce training center (BioTC) at Convergence in the Oklahoma City Innovation District. The new facility will not only increase production capacity but also foster collaboration with the broader biotech ecosystem in the region.
“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. “Our Modular CMC platform, combined with our customer-centric approach, positions us uniquely to enable our partners through both clinical and commercial manufacturing.”
Support from Industry Leaders and Investors
The funding round attracted a diverse set of investors, reflecting the industry’s confidence in Wheeler Bio’s approach and growth trajectory. Alloy Therapeutics, a key investor, has supported Wheeler Bio since its inception. The company’s continued involvement underscores the value of Wheeler’s platform in accelerating drug development timelines.
“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. “We have seen Wheeler hone its strategy and advance its cGMP capabilities under Patrick Lucy’s leadership, and we are thrilled to deepen our commitment. With a clear path to expanded capabilities and large-scale production, Wheeler Bio is well-positioned to drive meaningful impact in the industry.”
Echo Investment Capital, another leading investor in the round, emphasized the strategic importance of Wheeler Bio’s growth in Oklahoma City.
“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 lineup 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.”
Mitsubishi Corporation (Americas), a first-time investor in Wheeler Bio, highlighted the importance of infrastructure and expertise in advancing biotechnology initiatives.
“Wheeler Bio is perfectly positioned to meet the growing demand for platforms that accelerate the transition from bench to bedside,” said Takahiro Tokuda, Healthcare Division COO, Mitsubishi Corporation. “We are excited for this collaboration, as Wheeler Bio plays a crucial role in creating infrastructure to support biotechnology companies focused on improving patient quality of life.”
Expanding Infrastructure and Industry Impact
The expansion of Wheeler Bio’s manufacturing capabilities aligns with broader industry trends toward increasing biologics production capacity. The demand for antibody-based therapies continues to rise, necessitating agile and scalable CDMO solutions that can support innovative drug developers. Wheeler Bio’s Modular CMC platform is designed to streamline process development and manufacturing, reducing the time and costs associated with bringing new therapies to market.
The planned 52,000-square-foot manufacturing facility will significantly enhance Wheeler Bio’s ability to meet this demand, providing state-of-the-art infrastructure for biologics production. The facility’s proximity to BioTC at Convergence will also help cultivate a skilled workforce, ensuring a steady pipeline of talent to support the company’s growth.
“We are committed to advancing biomanufacturing excellence and ensuring that biotechnology innovators have access to best-in-class CDMO services,” said Lucy. “With our expanded capabilities, we will be able to offer end-to-end solutions that address the unique challenges of our partners, from early-stage development through commercial-scale production.”
Looking Ahead: The Future of Wheeler Bio
With this significant funding milestone, Wheeler Bio is well-positioned for continued growth and innovation. The company’s expansion efforts will focus on enhancing its technological capabilities, strengthening client partnerships, and scaling its operations to meet the increasing demand for high-quality biomanufacturing services.
As Wheeler Bio continues to build upon its success, its leadership team remains committed to its mission of accelerating drug development and improving patient outcomes. By leveraging its Modular CMC platform, expanding its facilities, and deepening collaborations with industry leaders, Wheeler Bio is shaping the future of biologics manufacturing and establishing itself as a key player in the global biotechnology ecosystem.
“This is just the beginning of an exciting new chapter for Wheeler Bio,” said Lucy. “With the support of our investors, partners, and talented team, we are ready to drive meaningful impact and advance the next generation of life-saving therapies.”
