Funding Round attributes
Flow Medical, a medical technology company specializing in pulmonary embolism (PE) treatment devices, has successfully closed an oversubscribed seed funding round totaling US$5 million. This amount includes US$2 million previously secured from friends and family.
The funding round attracted a strategic group of investors focused on healthcare innovation. Notably, the University of Chicago Medical Center participated through its UCM Ventures initiative, marking its first direct investment in a med-tech startup. All three founders of Flow Medical are faculty members at the University of Chicago.
Jennifer Fried, Chief Executive Officer of Flow Medical, expressed enthusiasm about the investment, stating, "This is the second company I have built out of UChicago, and I am thrilled to have such strong support from the investment community. 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."
The company plans to allocate the funds toward design verification and validation testing, initiating a first-in-human study, and establishing partnerships to ensure broad adoption and accessibility of its treatment platform
