US Start-Up Phlow Receives Further Capital Injection To Fund Essential Medicines
Cash Will Be Used For Multiple Key Initiatives
Fresh from its $812m government contract to help prevent shortages of essential medicines and shield the US market from global competition, domestic start-up Phlow Corporation has received further financial backing.
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Lauding a “dream come true,” Civica has announced plans to build its own injectables manufacturing facility via a strategic partnership with fellow public health firm Phlow Corporation.
While the AAM is lobbying for a renewed focus on domestic drug production amid fresh concerns about the globalization of the US pharmaceutical drug supply chain, the association has urged US Congress to have confidence in FDA oversight, insisting that “the US has one of the safest drug supply chains in the world.”
US start-up Phlow has been awarded federal government funding of $354m as part of a contract to manufacture essential medicines in the US amid the COVID-19 pandemic, in partnership with AMPAC Fine Chemicals and Civica Rx.