Phlow Raises $37M to Expand U.S. Pharmaceutical Manufacturing

Phlow Corp., a Richmond-based pharmaceutical contract development and manufacturing organization, has secured $37 million in Series C funding led by Align Private Capital LLC to expand its U.S.-based manufacturing and development operations. The company focuses on producing active pharmaceutical ingredients (APIs) and key starting materials domestically to address medicine shortages and reduce reliance on overseas supply chains, aligning with President Trump's administration goals to restore America's pharmaceutical sovereignty. Phlow, operational since last year with facilities in Petersburg, currently employs over 105 people and plans to use the new capital to invest in technology, AI-powered systems, and hire more staff, aiming for future growth and profitability. The funding follows Phlow's accumulation of over $93 million in private investment and more than $600 million in government contracts, supporting its mission to produce medicines considered critical for national security. Phlow also partners with government agencies on medical countermeasure development and supports pediatric hospitals by supplying essential medicines. The company’s leadership expressed confidence that this investment reflects strong investor belief in their vision to revolutionize pharmaceutical manufacturing in the U.S.