SOUTH SAN FRANCISCO, Calif., Dec. 16, 2015 /PRNewswire/ — Profusa, Inc., based here, today announced it secured $13.2 million in Series B financing to support the development and commercialization of its internal biosensor technology for long-term, continuous monitoring of body chemistry for improving personal health and managing disease. 3E Bioventures, a Beijing-based venture capital firm, led the round with Asset Management Ventures, Qihoo 360, and other Series A investors participating in the funding. All told, including non-dilutive grants, the new financing brings to the privately held company more than $30 million in funding since its founding in 2009. Other financial details were not disclosed.
Profusa also said it appointed to its board of directors Joan Braddi, Vice President of Global Product Partnerships at Google, Inc., a subsidiary of Alphabet Inc. Karen Liu, Ph.D., Managing Partner of 3E Bioventures, also joined Profusa’s board in conjunction with her firm’s investment in the Series B round.
“This round, coupled with prominent board appointments from the biotechnology and IT sectors, provide Profusa with the additional funding and market experience to help ensure our success,” said Ben Hwang, Ph.D., Profusa’s chairman and CEO.
As Google’s 15th employee for as many years, Braddi is responsible for building and managing content and distribution partnerships that get Google’s products into the hands of users around the world. Dr. Liu heads 3E Bioventures’ investing in the U.S. and China, and is active in creating cross-border opportunities in healthcare.
Profusa, Inc. is leading the development of a new generation of biologically integrated sensors that empowers an individual with the ability to continuously monitor their unique body chemistry in unprecedented ways to transform the management of personal health and disease. Overcoming the body’s response to foreign material, the company’s technology enables the development of minute bioengineered sensors that become one with the body to detect and transmit clinical-grade data for personal and medical use. The company’s first product, the Lumee Oxygen Sensing System™, is slated to be available in Europe in early 2016 for the measurement of tissue-oxygen perfusion in the clinical management of chronic wounds.