In 2025, Phlow is accelerating with speed, purpose, and determination. Like MO, we are doubling down on relentless innovation, transformative growth, and demonstrating that every transaction represents an opportunity to create positive outcomes for all stakeholders.

As a modern medicine manufacturer, Phlow is dedicated to reshoring pharmaceutical manufacturing and creating pharmaceutical sovereignty for generations to come. Together, we will achieve this bold vision by shattering the Active Pharmaceutical Ingredient (API) and Finished Drug Product (FDP) status quo as we revolutionize the science behind it and create unprecedented levels of access to life-changing medicines.

As the first pharmaceutical manufacturer based in America to earn B Corporation certification, our work is designed to improve access to and availability of domestically produced, high-quality pharmaceuticals and active pharmaceutical ingredients through advanced and environmentally friendly manufacturing processes. Phlow chose to incorporate as a Public Benefit Corporation from the very beginning, and we are now proud to have also received official certified B Corporation designation—yet another example of our commitment to accountability and validation of the company operating in a sustainable and responsible manner. Key pillars of Phlow’s purpose-driven approach are:

• Advancing Green Chemistry – A key element in Phlow’s advanced manufacturing processes is the utilization of continuous flow chemistry, where a chemical reaction is run in a continuously flowing stream, providing key advantages when compared to standard batch chemistry methods. At every opportunity, Phlow deploys advanced learning practices in continuous manufacturing to decrease Process Mass Intensity (PMI) and improve solvent recovery and reuse.

• Securing Our Nation’s Critical Essential Medicines Supply Chain – Phlow has partnered with the United States government to secure a supply of our nation’s most vulnerable medicines. Phlow’s program focuses on developing and manufacturing Active Pharmaceutical Ingredients (APIs) that, in some cases, have not been manufactured on U.S. soil for decades and are vulnerable to drug shortages. In addition, Phlow has constructed and initialized operations for the nation’s first reserve for key starting materials and APIs to ensure resiliency and availability in times of geopolitical crises, trade disputes, natural disasters, or future public health emergencies.

• Building a First-in-Kind Children’s Hospital Coalition – Phlow is committed to ensuring access to medicines for the Children’s Hospital Coalition, an unprecedented coalition of 30 members representing 42 best-in-class hospitals that aim to ensure the reliable and affordable supply of high-quality essential medicines and help prevent pediatric drug shortages.

Building Healthy, Thriving Communities – Serving the under-resourced Petersburg, VA, community by engaging and empowering students and families through Phlow’s partnership with Petersburg City Public Schools to rebuild playgrounds and provide learning days with scientific demonstrations and stories of innovation.

In short, Phlow is committed to serving as a force for good for all stakeholders, including our employees, patients, the communities we serve, and the environment. Ultimately, we measure the public good we are creating by Phlow’s ability to improve access to and availability of domestically produced, high-quality pharmaceuticals and active pharmaceutical ingredients through advanced manufacturing utilizing environmentally friendly processes.

Examples of Recent Milestones:

• Purposeful Team Expansion: In the last year, Phlow strategically grew its team to over 90 dedicated professionals, more than doubling our size to support the bold vision of reshoring pharmaceutical manufacturing. Each new team member reflects our commitment to purpose-driven growth, strengthening our capacity to deliver life-saving medicines and innovative solutions.

• Operational Excellence: 2024 marked a pivotal milestone for our growing infrastructure as Phlow’s Petersburg cGMP facilities became fully operational. In 2025, we are putting into action our Kilo-Scale cGMP Facility, producing up to 500 kg of API annually, and our Metric Ton-Scale cGMP Facility, capable of producing 60 metric tons of API each year.

Business Advisory Expansion: We recently welcomed General Gus Perna to Phlow’s Business Advisory Board. General Perna honorably served in the United States Army for over 40 years, retiring as a Four-Star General in 2021. He last served as Chief Operating Officer for Operation Warp Speed, where he led the United States’ national effort to research, develop, produce, distribute, and administer vaccines and therapeutics to combat COVID-19.

• Deepening Government Partnerships: Phlow will continue to meet and exceed our U.S. government contracts. We have been awarded Option Year 6, highlighting our expanding collaboration and shared dedication to securing America’s pharmaceutical independence. This milestone reinforces our mutual commitment to innovative solutions and resilient supply chains.

• Strengthening the Future of Healthcare for Our Warfighters: Through a historic government collaboration, Phlow has launched a new interagency partnership to begin domestic manufacturing of critical ingredients for medical countermeasure drug products. These efforts, in partnership with the Joint Program Executive Office for Chemical, Biological, Radiological, and Nuclear Defense (JPEO-CBRND) and the U.S. Department of Health and Human Services (HHS) Administration for Strategic Preparedness and Response (ASPR), support the joint force and its allies in countering chemical and biological threats.

• Protecting the Health of the Most Vulnerable Populations: Last year, we shipped our one-millionth vial of essential medication to children’s hospitals across the country as part of the Children’s Hospital Coalition, and we look forward to continuing this impact in 2025. This unprecedented coalition of 30 members, representing 42 hospitals, embodies our commitment to addressing pediatric drug shortages and ensuring equitable access to high-quality medicines.

• Celebrating Our Milestones: We recently welcomed Dawn O’Connell, Assistant Secretary for Preparedness and Response; Arlene Joyner, Deputy Assistant Secretary and Director of the Office of Industrial Base Management and Supply Chain; Governor Glenn Youngkin; Senator Tim Kaine; Congresswoman Jennifer McClellan; and more to tour and celebrate Phlow Corp.’s new facilities, which are providing continuous manufacturing capabilities to produce active pharmaceutical ingredients and helping to expand the country’s domestic manufacturing capabilities.

• Expanding Awareness and Impact: Over the past year, Phlow’s team has traveled across the country—and beyond—to represent our mission at key industry conferences, including DCAT Week in New York, Drug Discovery Chemistry in San Diego, CPhI North America in Philadelphia, PBSS International in San Francisco, and CPhI Milan.

• Supporting Our Community: Phlow continues to serve as the first and only pharmaceutical manufacturer based in America to maintain B Corporation™ certification. In addition, we continue to serve as a founding member of the Alliance for Building Better Medicine. Our community commitment also extends beyond manufacturing, as we supported high school students in Chesterfield County by donating 140 CPR kits, empowering the next generation with life-saving skills.

Together, we are building a future where every American has access to the essential medicines necessary to sustain life and conquer disease. This is just the beginning of what we can achieve when our bold vision meets collective action.