US-based digital health company Profusa has completed its merger with NorthView Acquisition, a special purpose acquisition company (SPAC).
The merger, approved by NorthView Acquisition’s shareholders on 9 June 2025, allows Profusa to operate as a public entity under the name Profusa.
Its shares are set to trade on Nasdaq under the ticker ‘PFSA’ from 14 July 2025.
The merger also involved the issuance of a secured convertible promissory note to an institutional investor, raising $9m to cover transaction costs and future working capital.
The convertible note facility offers up to $20m in total funding. However, the company’s warrants will continue trading on the OTCID market.
Profusa chairman and CEO Ben Hwang said: “In a journey that began over a decade ago, driven by a mission to harness transformative science to positively impact quality of daily living and chronic disease management, we are excited to mark a key milestone of going public and trading on Nasdaq.
“We believe being a public company better positions us to advance our vision in pioneering tissue-integrating biosensors platform that could function for months at a time, with transformative lower costs, and continuously monitor and transmit body chemistries to smart phone applications and leveraging the best-in-class data analytics and AI technologies.
“Thanks to the support of our dedicated employees, partners and investors for leading us to this exciting moment in our company’s history.”
Based in Berkeley, California, Profusa is focused on developing tissue-integrated sensors that provide continuous, medical-grade data for personal and medical use.
The company’s biosensors aim to deliver personalised biochemical insights through an intelligent data platform.
Its initial clinical offering in the European Union (EU), the Lumee Oxygen Platform, is designed to report tissue oxygen levels in various regions of interest, acutely and long-term.
The platform is beneficial for monitoring compromised tissue in conditions such as peripheral artery disease, chronic wounds, and during reconstructive surgery.
A.G.P./Alliance Global Partners, I-Bankers Securities, and Dawson James Securities served as financial advisors to NorthView Acquisition, on this transaction.
Ellenoff Grossman & Schole for Profusa, ArentFox Schiff served as legal advisor to NorthView Acquisition, and Lucosky Brookman as legal advisor to the institutional investor involved in the convertible promissory note.
