Company: PFSA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112723
Chunk: 133

Company: Profusa, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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PROFUSA, INC. AND SUBSIDIARY 

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL
STATEMENTS (UNAUDITED)

Note 1 — Organization, Description of Business, Going Concern
and Significant Risks and Uncertainties

Description of Business

Profusa, Inc. (the “Company”) was incorporated in the state
of California on May 11, 2009. The Company is engaged in the development of a new generation of biointegrated sensors that potentially
empowers the individual with the ability to monitor their unique body chemistry.

The Company’s technology enables the development of bioengineered
sensors that are designed to become one with the body to detect and continuously transmit actionable, clinical-grade data for personal
and medical use. The Company’s first offering in the European Union, the Lumee™ Oxygen Platform, is designed to report reliable
tissue oxygen levels at various regions of interest, both acutely and long-term. The Lumee™ Oxygen Platform has been designed for
use in applications where monitoring of compromised tissue is beneficial, such as peripheral artery disease that results in narrowing
of blood vessels and reduced blood flow to the lower limbs; chronic wounds (diabetic ulcers, pressure sores) that do not heal properly;
and reconstructive surgery.

The Company’s research and development efforts are primarily
focused on its Lumee™ Glucose Platform which is a system designed to monitor glucose levels in interstitial fluid, continuously
and long-term. A tiny, biocompatible gel injected under the skin acts as a continuous glucose monitor (“CGM”) for several
months. The ability of Lumee™ Glucose to provide continuous glucose monitoring with only an initial single injection, is an attractive
alternative for people with diabetes to manage their disease without the need for frequent finger sticks required by standard glucometers,
or the need for weekly sensor replacement as required by current short-term needle-type CGMs.

On July 11, 2025 (the “Closing Date”), NorthView Acquisition
Corporation (“Northview”), consummated its previously announced business combination (the “Business Combination”)
with Profusa, Inc., a California corporation (“Legacy Profusa”), pursuant to that certain Merger Agreement and Plan of Reorganization,
dated as of November 7, 2022 (as the same has been amended, supplemented or otherwise modified from time to time, the “Merger Agreement”),
between Northview, Legacy Profusa, and NV Profusa Merger