Funding Fuels Development and Clinical Trials for Pulmonary Embolism Treatment
Flow Medical announced the completion of a $5 million oversubscribed seed round, bolstered by $2 million from friends and family and new investment from UCM Ventures, part of the University of Chicago Medical Center.
Innovative Technology for Pulmonary Embolism Treatment
Flow Medical’s novel catheter system combines diagnostic and therapeutic functions:
- Pulmonary angiograms: Identifies and locates blood clots.
- Expanding nitinol scaffold: Delivers tissue plasminogen activator (TPA) to dissolve clots.
- Pressure monitoring: Built-in sensors measure pulmonary artery pressure, enabling personalized lytic dosing.
With approximately 900,000 venous thromboembolism (VTE) cases annually in the U.S., two-thirds of which evolve into pulmonary embolism (PE), Flow Medical’s technology addresses a significant unmet need. Currently, only 15-20% of eligible patients receive endovascular intervention.
Milestones and Next Steps
Flow Medical will use the funds to:
- Complete verification and validation (V&V) testing.
- Initiate a first-in-human clinical study in 2025.
- Build partnerships to ensure broad adoption and accessibility.
The startup has scheduled an FDA Pre-Sub meeting in January to finalize its regulatory pathway and timeline.
Leadership and Expertise
Flow Medical is led by co-founders:
- Jennifer Fried, CEO and serial entrepreneur.
- Dr. Jonathan Paul, Chief Scientific Officer, an interventional cardiologist.
- Dr. Osman Ahmed, Chief Medical Officer, an interventional radiologist.
Both Dr. Paul and Dr. Ahmed practice at the University of Chicago Medical Center, bringing hands-on experience in PE treatment.
“We’re eager to advance this technology and ensure broad awareness within the interventional community,” Fried said.
A Step Forward in Patient Care
Flow Medical’s innovative approach aims to improve outcomes for PE patients, offering a minimally invasive solution in a significantly underpenetrated market.
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