Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 31

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 31
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 with are also competitors or potential competitors who may decide to terminate our collaborative arrangement. In the event
of such a termination, we may be required to devote additional resources to product development and commercialization, we may need to
cancel some development programs and we may face increased competition. Additionally, collaborations may not result in the development
of products that achieve commercial success and could be terminated prior to developing any products. Former collaborators may use the
experience and insights they develop in the course of their collaborations with us to initiate or accelerate their development of products
that compete with our products, which may create competitive disadvantages for us. Accordingly, we cannot provide assurance that any of
our collaborations will result in the successful development of a commercially viable product or result in significant additional future
revenues.

Medical device development is costly and involves continual technological change, which may render our current or future products obsolete.

The market for medical devices
is characterized by rapid technological change, medical advances and evolving industry standards. Any one of these factors could reduce
the demand for our devices or services or require substantial resources and expenditures for research, design and development to avoid
technological or market obsolescence.

Our success will depend on
our ability to enhance our current technology, services and systems and develop or acquire and market new technologies to keep pace with
technological developments and evolving industry standards, while responding to changes in customer needs. A failure to adequately develop
or acquire device enhancements or new devices that will address changing technologies and customer requirements adequately, or to introduce
such devices on a timely basis, may have a material adverse effect on our business, financial condition and results of operations.

We might have insufficient
financial resources to improve existing devices, advance technologies and develop new devices at competitive prices. Technological advances
by one or more competitors or future entrants into the field may result in our current devices becoming non-competitive or obsolete, which
may decrease revenues and profits and adversely affect our business and results of operations.

We may encounter significant
competition across our existing and future planned products and services and in each market in which we sell or plan to sell our products
and services from various companies, many of which have greater financial and marketing resources than we do.

In addition, our competitors,
which are well-established manufacturers with significant resources, may engage in aggressive marketing tactics. Competitors may also
possess the ability to commercialize additional lines of products, bundle products or offer higher discounts and incentives to customers
in order to gain a competitive advantage. If the prices of