Flow Medical Secures Seed Funding for Pulmonary Embolism Therapy

December 17, 2024—Flow Medical announced the closing of a $5 million seed funding round that will allow the company to accelerate the development and launch of its device for the treatment of pulmonary embolism (PE). The seed funding includes $2 million previously secured from friends and family, which was announced in December 2023.

According to Flow Medical, the 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 the PE treatment platform.

“We see great potential for Flow Medical’s technology to enhance patient care and are excited to be part of this journey,” commented Stephen Weber, MD, in the company’s press release. Dr. Weber is Chief Medical Officer for the UChicago Medicine health system, which is anchored by the University of Chicago Medical Center in Chicago, Illinois.

Flow Medical advised that the seed round was supported by a strategic group of investors with an interest in health care innovation, including the University of Chicago Medical Center, as part of its UCM Ventures initiative.

The funding represents UCM Ventures’ first direct investment in a medtech startup, noted the company, whose three founders 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,” commented Flow Medical’s CEO Jennifer Fried in the company’s press release. “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.”