Profusa Closes $45 Million Series C Financing
SOUTH SAN FRANCISCO, Calif., Aug. 14, 2018
SOUTH SAN FRANCISCO, Calif., Aug. 14, 2018 /PRNewswire/ -- Profusa, a company dedicated to the development of tissue-integrating biosensors for continuous monitoring of body chemistries, today announced it has raised more than $45 million in a Series C financing. New investors, VMS Investment Group, Tasly Pharmaceutical Group and Maxim Integrated Ventures, joined existing investors, 3E Bioventures Capital and Atinum Investment, in this latest round of funding. Profusa plans to use the proceeds from this financing to advance the commercialization of its first product on the market – the Profusa Lumee™ Oxygen Platform https://profusa.com/lumee/ for continuous, real-time monitoring of tissue oxygen – and to accelerate the development of its transformative glucose biosensor technology.
"With this financing, we continue to build the financial strength necessary to advance our innovative biosensor platform," said Ben Hwang, Ph.D., chairman and chief executive officer of Profusa. "We appreciate the support and confidence of our new and existing investors. Together, we are working to realize our vision of revolutionizing the management and utilization of personalized healthcare data."
Profusa's first clinical offering, the Profusa Lumee Oxygen Platform, is CE Marked for use in the European Union. Lumee is designed to report reliable tissue oxygen levels at various regions of interest, both acutely and long-term. Potential applications include monitoring of compromised tissue, such as peripheral artery disease that results in narrowing of blood vessels and reduced blood flow to the lower limbs; chronic wounds, such as diabetic ulcers and pressure sores that do not heal properly; sleep apnea; chronic obstructive pulmonary disease; and reconstructive surgery.
"Profusa has made significant advances since its inception and is now on the cusp of revolutionizing the type of real-time data that can be gathered and shared between physicians and patients to drive truly personalized care," said Karen Liu, Ph.D., a partner of 3E Bioventures Capital and a current board director. "The company understands the enormous value that real-time, clinical-grade data derived from simple-to-use devices can have on an individual's health care and is taking a leadership role in transforming blood chemistry analysis into a continuous streamlined, digital experience."
Profusa is leading the development of bioengineered sensors that become one with the body to detect and continuously transmit actionable, medical-grade data of body chemistry for personal and medical use. Overcoming the foreign-body response to in-body monitoring for long-term use, its tissue-integrated biosensors open the door to accessing, connecting and applying body chemistry in unprecedented ways, transforming the management of personal health and disease.
Profusa's Lumee™ Oxygen Platform is CE Marked for sale in the EU for monitoring tissue-oxygen perfusion as a general indication with specific marketed application in the clinical management of peripheral artery disease and chronic wounds. In the U.S., Lumee is an Investigational Device limited by U.S. law to Investigational Use. Profusa Inc. is a privately held company based in South San Francisco, Calif. Please visit profusa.com for more information.
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SOURCE Profusa, Inc.