Flow Medical has recently secured $2 million in a funding round primarily from friends and family. The Chicago-based company is actively engaged in the development of an innovative thrombolysis catheter designed to address acute pulmonary embolism (PE). The secured funds will be directed towards research and development initiatives, as well as regulatory endeavors.

Jennifer Fried, the co-founder and CEO of Flow Medical and former CEO of Explorer Surgical, expressed her appreciation for the support received, emphasizing the significance of the investment in validating the potential of their groundbreaking technology. The startup, led by Fried, collaborates with renowned venous thromboembolism physicians Dr. Jonathan Paul and Dr. Osman Ahmed at The University of Chicago Medical Center.

The funding round attracted investors such as Harvard Business School Angels of Chicago, who highlighted their confidence in Jennifer Fried's leadership, citing her successful track record with Explorer Surgical as a key factor in their interest. Alex Meyer, a representative of Harvard Business School Angels of Chicago, articulated their belief in Flow Medical's ability to make a substantial impact in the field of venous thromboembolism (VTE). The personalized approach of Flow Medical's thrombolytic catheter in treating each patient was underscored as having transformative potential in pulmonary embolism therapy.

Previously, Flow Medical had secured Small Business Innovation Research (SBIR) funding from the National Institutes of Health and raised $1 million from an undisclosed strategic investor in the medical device manufacturing sector. The startup's thrombolytic catheter is positioned as a breakthrough in the field, offering a minimally invasive and highly effective solution for endovascular PE treatment.