Phlow Corp. Secures $37 Million in Series C Funding to Enhance U.S. Pharmaceutical Supply Chain

Phlow Corp., a Richmond, Va.-based contract development and manufacturing organization (CDMO), has successfully closed a $37 million Series C funding round. This investment was led by Align Private Capital, a woman-owned firm from Florida, with contributions from both new and existing investors. To date, Phlow has raised over $93 million in private capital, in addition to more than $600 million in government contracts, highlighting its pivotal role in strengthening the U.S. pharmaceutical supply chain.

Eric S. Edwards, Phlow's Chairman and CEO, emphasized the significance of this funding in accelerating the company's mission to support the development and manufacturing of active pharmaceutical ingredients (APIs) for both clinical and commercial use. Edwards, a seasoned pharmaceutical executive and co-inventor of several medical products, pointed to Phlow's recent achievements, including the operational launch of two cGMP manufacturing facilities in the U.S. These facilities are capable of producing APIs at varying scales, from kilograms to metric tons, marking a significant step forward in domestic pharmaceutical production.

Align Private Capital's CEO, Anna Nekoranec, expressed enthusiasm for supporting Phlow's innovative approaches to tackling inefficiencies in the pharmaceutical supply chain. Notably, Phlow's initiatives include the Children’s Hospital Coalition, aimed at preventing pediatric drug shortages, which has already distributed over 1.6 million vials of essential medicines to children's hospitals nationwide.

This funding round not only validates Phlow's strategic direction but also enhances its capacity to contribute to national health security, particularly in addressing chronic shortages of essential medicines and developing medical countermeasures for chemical and biological threats in collaboration with the U.S. military.