Optical biosensor developer Profusa closes $45M Series C financing round

The company plans to use this financing to accelerate the development of its transformative glucose biosensor technology.

Tissue-integrating optical biosensor maker Profusa (South San Francisco, CA) has raised more than $45 million in a Series C financing. The company plans to use the proceeds from this financing to advance the commercialization of its Lumee oxygen platform for continuous, real-time monitoring of tissue oxygen, and to accelerate the development of its transformative glucose biosensor technology.

The company's Lumee oxygen platform is designed to report reliable tissue oxygen levels at various regions of interest, both acutely and long-term. According to the company, it comprises a ~5-mm-long, 500 µm flexible fiber made of a porous smart gel that is biologically compatible with tissues for continuous montioring—its light-emitting molecule emits a fluorescence signal in the presence of, for example, oxygen, glucose, and lactate. Then, a separate optical reader reads that fluorescent signal and sends excitation light through the skin to the biosensor to perform biochemical measurement.

Potential applications for the platform include monitoring of compromised tissue, such as peripheral artery disease (PAD) 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. Currently, the platform is CE-Marked for use in the European Union.

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.

For more information, please visit profusa.com.

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