US-based biosensor developer Profusa completed its series C round today, raising more than $45m from investors including integrated circuit manufacturer Maxim Integrated and pharmaceutical group Tasly Pharmaceutical.
Asset manager VMS Investment Group, investment firm Atinum Investment and venture capital firm 3E Bioventures also contributed to the round. Maxim Integrated took part through its corporate venturing unit, Maxim Integrated Ventures.
Founded in 2009, Profusa develops sensors that are implanted in the human body to continuously monitor its chemistry. The company’s first product, Profusa Lumee Oxygen Platform, has been certified for use within the European Union.
Lumee sensors continuously monitor oxygen levels in tissue in real time. Possible applications for the technology include the monitoring of chronic wounds, sleep apnoea, chronic obstructive pulmonary disease, peripheral artery disease and recovery after reconstructive surgery.
The cash will support commercialisation efforts for Lumee and help accelerate the development of a second product, a sensor to monitor glucose levels.
Profusa secured $13.2m in a 2015 series B round featuring cybersecurity software producer Qihoo 360 that was co-led by 3E Bioventures and Asset Management Ventures and backed by unnamed, existing backers.
The company received $2.8m in funding in 2013 according to a regulatory filing, and press reports indicated it had raised $30m in financing as of the close of the 2015 round, including grant awards.