Profusa intends to use the proceeds to commercialize its first product, Profusa Lumee Oxygen Platform, which is used for continuous, real-time monitoring of tissue oxygen, and to develop its glucose biosensor technology.

VMS Investment Group, Tasly Pharmaceutical Group and Maxim Integrated Ventures have joined existing investors 3E Bioventures Capital and Atinum Investment in this round of funding.

Profusa chairman and CEO Ben Hwang said: “With this financing, we continue to build the financial strength necessary to advance our innovative biosensor platform.

“We appreciate the support and confidence of our new and existing investors. Together, we are working to realize our vision of revolutionizing the management and utilization of personalized healthcare data.”

The Profusa Lumee Oxygen Platform, the first clinical offering, has secured CE marking for use in the European Union.

Lumee has been designed to report tissue oxygen levels at various regions of interest, both acutely and long-term.

The product can be used in several applications, including monitoring of compromised tissue, such as peripheral artery disease in which narrowed arteries reduce blood flow to the lower limbs; chronic wounds, such as diabetic ulcers and pressure sores; chronic obstructive pulmonary disease; sleep apnea; and reconstructive surgery.

Profusa board director and 3E Bioventures Capital partner Karen Liu said: “Profusa has made significant advances since its inception and is now on the cusp of revolutionizing the type of real-time data that can be gathered and shared between physicians and patients to drive truly personalized care.

“The company understands the enormous value that real-time, clinical-grade data derived from simple-to-use devices can have on an individual’s health care and is taking a leadership role in transforming blood chemistry analysis into a continuous streamlined, digital experience.”