Flowonix Medical Incorporated, a Mt. Olive, New Jersey-based medical device company focused on providing advanced implantable drug delivery solutions, has raised $25m in funding.
The round was led by RFT Investment Company, LLC, with participation from new investor OmniCapital Fund, LP., and existing investor Clarus Ventures.
The company intends to use the new capital to enter the U.S. market as well as continue to develop its drug delivery technologies.
Founded in 2005 and led by President and CEO Steve Adler, Flowonix Medical recently received approval by the FDA to market Prometra, an implantable pump designed to deliver therapeutic drugs into the spine to relieve a variety of chronic disorders and help patients return to normal lives. Currently, the company is focused on alleviating chronic pain.