Flow Medical Secures $2 Million in Friends and Family Funding to Advance Breakthrough Thrombolysis Catheter for Pulmonary Embolism Treatment
Chicago, IL, December 12, 2023 –
Flow Medical, a Chicago-based medical technology company specializing in innovative solutions for venous thromboembolism (VTE), announced today the successful completion of a $2 million Friends and Family funding round. The investment will accelerate the development of Flow Medical's novel thrombolysis catheter for the treatment of acute pulmonary embolism (PE).
Led by a consortium of enthusiastic supporters, the Friends and Family round was oversubscribed, highlighting strong confidence in Flow Medical's pioneering technology and its potential impact on improving patient outcomes in the field of catheter based treatments for PE.
The pioneering technology behind Flow Medical's thrombolytic catheter was conceived by leading VTE physicians, Dr. Jonathan Paul and Dr. Osman Ahmed, at The University of Chicago Medical Center in 2020 with a mission to provide more targeted and precise therapy for PE patients. The company was developed and later spun out of the University with support from the Polsky Center for Entrepreneurship as well as non-dilutive funding from the NIH.
Jennifer Fried, CEO of Flow Medical, expressed her gratitude for the support and outlined the significance of the funding in advancing their mission. "This investment not only validates the potential of this groundbreaking technology but also propels us towards our goal of revolutionizing the treatment landscape for PE. We are grateful for the confidence our Friends and Family investors have placed in our team and our vision."
The thrombolytic catheter developed by Flow Medical represents a breakthrough in the field, offering a minimally invasive and highly effective solution for the endovascular treatment of PE. PE represents a major public health problem as the third largest cardiovascular killer, claiming over 100,000 lives in the US annually and standing as the number one cause of preventable in-hospital mortality.
Harvard Business School Angels of Chicago, a key investor in the Friends and Family round, sees immense potential in Flow Medical's technology. "Having witnessed the success of Jennifer’s previous company, Explorer Surgical, we are confident in Jennifer's leadership and the potential impact Flow Medical can make in the field of VTE. Flow Medical's device has the potential to transform PE therapy with its personalized approach to treating each patient," said Alex Meyer, representative of Harvard Business School Angels of Chicago.
The funding secured in this round will be utilized for further research and development and regulatory activities. The focus on R&D reflects Flow Medical's commitment to delivering the highest standards of innovation and effectiveness in addressing these critical medical challenges.
For media inquiries or more information, please contact:
Jennifer Fried
About Flow Medical:
Flow Medical is a Chicago-based medical technology company focused on developing innovative solutions for pulmonary embolism (PE) and other venous thromboembolic (VTE) disease states. With a commitment to improving patient outcomes, Flow Medical is dedicated to advancing medical devices that address critical needs in the treatment of PE and VTE. Learn more at www.flowmedical.co
