Phlow Corp Secures $36M to Expand Domestic CDMO Operations
South Carolina-based medicine supply chain company, Phlow Corp, has secured $36 million in a Series B funding round. The funding will aid the company as they scale their contract manufacturing program. The funding’s primary focus will be on supporting the growth of cdmoX – the company’s manufacturing operations – to meet market demands for customized services.
The company refers to their U.S.-based,next generation contract development and manufacturing organization (CDMO) as cdmoX. This program provides R&D services for Advanced Pharmaceutical Ingredients (API) and Key Starting Materials with the intention of streamlining supply and reducing the exorbitant costs associated with typical development.
This mission addresses a growing pain point in the medical industry. Economic drivers moved the manufacturing of APIs abroad, while recent global events have made the global supply chain unstable. Phlow’s approach brings stability back by creating a resilient and domestic supply chain capable of manufacturing critical medicines and medical countermeasures. The boost in funding from this Series B round will aid in this mission, expanding the company’s reach and improving resilience.
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