Wheeler Bio, a contract development and manufacturing organization (CDMO) specializing in small batch clinical production of biologics and GMP-grade reagents using their open-source platform, Portable CMC, announced the first closing of their Series A financing round. The round was co-led by Charles River Laboratories and Echo Investment Capital with participation from ATUM, Floating Point Advisors, Plains Venture Partners (a subsidiary of i2E), and Pine Ridge Ventures.
Wheeler Bio is solving for the typical momentum drop between discovery and development. This early “translation gap” poses significant challenges for emerging biotechs adding technical, financial, and regulatory risks. Wheeler Bio believes that this gap can be minimized through efficient partnering and democratization of standardized manufacturing platforms.
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“I am thrilled to have the support of investors and partners who agree that innovators need to minimize friction points more than ever before in the face of new market headwinds,” said Jesse McCool, co-Founder and CEO at Wheeler Bio. “A key part of our thesis has been that by making the clinical manufacturing process more transparent, cost-effective, and integrated with coastal drug discovery partners, like Alloy Therapeutics, biotechs will have more opportunities to create clinical impact.”
John Loser, Managing Partner at Floating Point agrees that “by closing the translation gap between drug discovery and scale-up manufacturing, Wheeler makes bringing novel therapeutics to market faster and more affordable for the next generation of biotech innovators.”
Wheeler will use the new funding to expand its state-of-the-art drug substance GMP manufacturing facility in the Ziggurat building in Oklahoma City. Through key strategic partnerships with recognized CRO providers, like Alloy Therapeutics and ATUM, Wheeler Bio will continue building an innovative hub-and-spoke business model that connects cutting-edge biologics discovery technologies with an agile, open-source biomanufacturing platform for GMP clinical trial material.
“Alloy is building an innovative drug discovery ecosystem to empower the global scientific community to make better medicines together. A key part of that is our venture studio, 82VS, which supports the efficient launch of next generation medicines companies. We are excited about our partnership with Wheeler, which connects our brilliant scientists and entrepreneurs to high quality, pre-competitive small batch manufacturing — ultimately enabling them to move more quickly to the clinic,” said Errik Anderson, Founder and CEO at Alloy Therapeutics.