Profusa, a South San Francisco, CA-based company dedicated to the development of tissue-integrating biosensors for continuous monitoring of body chemistries, raised more than $45m in Series C financing.
New investors VMS Investment Group, Tasly Pharmaceutical Group and Maxim Integrated Ventures, joined existing investors 3E Bioventures Capital and Atinum Investment.
The company intends to use the funds to advance the commercialization of its first product on the market, the Profusa Lumee™ Oxygen Platform, for continuous, real-time monitoring of tissue oxygen – and to accelerate the development of its glucose biosensor technology.
Led by Ben Hwang, Ph.D., chairman and chief executive officer, Profusa develops bioengineered tissue-integrated biosensors that become one with the body to detect and continuously transmit actionable, medical-grade data of body chemistry for personal and medical use.
Its first clinical offering, the Profusa Lumee Oxygen Platform, CE Marked for use in the European Union, 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.