Phlow, a leading American pharmaceutical contract development and manufacturing organization (CDMO), has raised $37 million in its Series C funding round, led by Align Private Capital with contributions from new and existing investors.
This funding will enhance Phlow’s U.S. development, manufacturing, and digital infrastructure, with a focus on technology-driven innovations, including AI and next-generation manufacturing technologies.
So far, Phlow has secured over $600 million in government contracts and raised more than $93 million in private capital. The company has recently launched two cGMP manufacturing facilities and partnered with the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense to develop medical countermeasure drug products.
Phlow has also shipped over 1.6 million vials of essential medicines to children’s hospitals nationwide, addressing pediatric drug shortages.
Plus, Phlow is expanding its next-generation CDMO services to improve cost efficiency and environmental sustainability.
How the funding will be used: This funding supports Phlow’s mission to advance the development and manufacturing of medicines in the U.S.
KEY QUOTES:
“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. 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.”
Dave Ryan, Chief Financial Officer of Phlow
“We are excited to support the Phlow team as they address the inefficiencies and challenges in the current US 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 US military.”
Anna Nekoranec, CEO of Align Private Capital
“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. 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.”
Eric S. Edwards, MD, Ph.D., Chairman and CEO of Phlow
