Phlow Corp., a leading American pharmaceutical contract development and manufacturing organization (CDMO), today announced the successful close of its Series C financing round at an increased valuation from previous funding. The $37 million raise supports the Company’s mission of helping brilliant minds bring medicines to life through advanced development and manufacturing in America. The growing Company’s Series C round was led by Align Private Capital LLC, a woman-owned investment firm which manages private family office direct investment vehicles, and was supported by additional new and follow-on investors.
The funds raised will accelerate Phlow’s expansion across its U.S.-based development, manufacturing, and digital infrastructure, with a focus on scaling technology-driven innovation, including AI-powered systems and next-generation pharmaceutical manufacturing technologies. This growth will strengthen domestic production of Key Starting Materials (KSMs) and Active Pharmaceutical Ingredients (APIs), helping restore America’s pharmaceutical sovereignty. To date, Phlow has raised over $93 million in private capital, alongside more than $600 million in awarded government contracts.
“Raising funds in today’s capital market environment remains very challenging. This investment demonstrates the confidence that both new and existing investors have in our vision” said Dave Ryan, Chief Financial Officer of Phlow, “Together, with our bold and purpose-driven partners, these funds will permit us to continue to revolutionize the science behind life-changing medicines and improve the health of our nation, a focus over the last five years that has led to significant growth for our business and value creation for our investors. We are excited to work with the Align team to continue executing our vision.”
“We are excited to support the Phlow team as they address the inefficiencies and challenges in the current U.S. pharmaceutical supply chain. In particular, we applaud the Company’s initiatives to prevent pediatric drug shortages, to advance state-of-the-art tech-enabled API manufacturing, and to support the U.S. military,” said Anna Nekoranec, CEO of Align Private Capital.
Phlow’s Series C funding coincides with several significant milestones this year, including the two newly operational U.S.-based cGMP manufacturing facilities, capable of producing APIs at both kilogram and metric-ton scales using both batch and continuous processes. Additionally, Phlow recently partnered with the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense to develop medical countermeasure drug products that support the joint force and its allies in counteracting chemical and biological threats. At the same time, Phlow expanded its impact in the pediatric space, having shipped over 1.6 million vials of essential medicines to leading children’s hospitals across the country through the Children’s Hospital Coalition, a first-of-its-kind initiative to combat pediatric drug shortages.
“Phlow’s rapid growth and proven ability to achieve key milestones since our launch in 2020 are the result of bold leaders, visionaries, and partners working collaboratively to stabilize our supply chain and end chronic shortages of essential medicines and medical countermeasures for Americans,” said Eric S. Edwards, M.D., Ph.D., Chairman and CEO of Phlow. “The most recent funding round for Phlow validates our vital mission and accelerates our ability to support small molecule API development and manufacturing programs for small and large clinical and commercial volumes.”
In addition to its transformative partnerships with the U.S. Government, Phlow is rapidly expanding its next-generation CDMO services for pharmaceutical partners, providing advanced development and manufacturing solutions, such as continuous flow chemistry, that help drive cost competitiveness, minimize waste, and improve environmental outcomes, all while enabling accelerated speed-to-market.
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