Wheeler Bio has announced the closing of an oversubscribed Series A-1 financing round.

The USD 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 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. 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,” said Patrick Lucy, President and Chief Executive Officer of Wheeler Bio.

"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, we’re excited to continue supporting its growth and impact on drug development," said Errik Anderson, Founder and CEO of Alloy Therapeutics.

“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,” said Christian Kanady, Co-Founder of Wheeler Bio and Founding Partner and CEO of Echo.

“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.