CHICAGO, IL - November 2, 2026 Financing includes multiple strategic medical device investors and supports upcoming clinical evaluation of the HELYX-PE™ System.
Flow Medical, a medical technology company spun out of the University of Chicago developing innovative treatments for pulmonary embolism (PE), today announced the closing of a $6 million financing round, including participation from multiple strategic medical device investors.The financing will support first-in-human clinical evaluation of the company’s HELYX-PE™ System, continued product development and manufacturing activities, and preparations for a U.S. pivotal study intended to support a future FDA submission.
Pulmonary embolism is a potentially life-threatening condition caused by blood clots obstructing blood flow to the lungs. While catheter-based therapies have expanded treatment options, opportunities remain to improve how thrombolytic drugs are delivered and how physicians assess patient response during treatment.
The HELYX-PE™ System is an investigational 9 French catheter-directed thrombolysis platform that combines an expandable infusion scaffold, integrated angiography, and continuous pulmonary artery pressure monitoring. Designed by interventional physicians and Flow Medical co-founders Osman Ahmed, MD, and Jonathan Paul, MD, the system is intended to improve drug distribution, streamline procedures, and provide real-time information to help physicians make more informed treatment decisions.
“We believe there’s a tremendous opportunity to improve how pulmonary embolism is treated,” said Jennifer Fried, CEO and Co-Founder of Flow Medical. “Our goal is to give physicians better tools and better information to deliver safer, more efficient, and more personalized care.”
The financing builds on Flow Medical’s extensive preclinical development and testing as the company prepares to transition into clinical evaluation. Proceeds will also support the manufacturing, quality, and regulatory activities necessary to advance the HELYX-PE™ System through its next stages of development.
Jonathan Paul, MD, Co-Founder of Flow Medical, is Associate Professor of Medicine and Director of the Pulmonary Embolism Response Team (PERT) at UChicago Medicine, whose Heart and Vascular Center is recognized by The PERT Consortium as a Comprehensive Center of Excellence for pulmonary embolism care. The multidisciplinary PERT program evaluates approximately 500 patients annually, providing firsthand insight into the challenges of treating pulmonary embolism and opportunities to improve patient care.
“Having spent years caring for patients with pulmonary embolism, we’ve seen firsthand where existing treatments fall short and how much opportunity there is to improve care,” said Dr. Paul. “It’s incredibly exciting to be approaching the opportunity to evaluate this technology in our first patients. Translating what we’ve learned in clinical practice into a new approach to treatment is exactly why we started Flow.”About Flow Medical
Flow Medical is a Chicago-based medical technology company developing the investigational HELYX-PE™ System, a next-generation catheter-directed thrombolysis platform designed to improve the treatment of pulmonary embolism through enhanced drug delivery, integrated procedural capabilities, and real-time treatment monitoring.
For more information, visit www.flowmedical.co.
The HELYX-PE™ System is an investigational device and has not been cleared or approved by the U.S. Food and Drug Administration for commercial use.