Flow Medical secures US$5 million seed funding to advance pulmonary embolism therapy

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Flow Medical today announced the closing of an oversubscribed US$5 million seed funding round, which includes US$2 million previously secured from friends and family. A press release notes that this investment positions Flow Medical to accelerate the development and launch of its pulmonary embolism (PE) device.

The company shares that the seed round was supported by a strategic group of investors with an interest in healthcare innovation, including the University of Chicago Medical Center (Chicago, USA) as part of its UCM Ventures initiative. The funding represents UCM Ventures’ first direct investment in a med-tech startup. All three founders of Flow Medical are faculty members at the University of Chicago.

“This is the second company I have built out of UChicago, and I am thrilled to have such strong support from the investment community,” said Jennifer Fried, chief executive officer of Flow Medical. “We are at the forefront of a new era in PE treatment and are poised to translate our innovative ideas into meaningful clinical advancements that can save lives.”

Flow Medical details that use of the funds will focus on design verification and validation testing, initiating a first-in-human study, and establishing partnerships to ensure broad adoption and accessibility of its treatment platform.

“We see great potential for Flow Medical’s technology to enhance patient care and are excited to be part of this journey,” said Stephen Weber, chief medical officer for the UChicago Medicine health system, which is anchored by the University of Chicago Medical Center.


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