Company: PFSA
Filing Date: 2025-10-29
Form Type: 424B3
Source: 0001213900-25-103174
Chunk: 22

Company: Profusa, Inc.
Filing Date: 2025-10-29
Form: 424B3
Chunk 22
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| ● | maintaining clinical and economical value for end-users and customers in changing environments; |

| ● | addressing any competing technological and market developments; |

| ● | negotiating favorable terms in any collaboration, licensing or other arrangements into which we may enter; |

| ● | establishing and maintaining manufacturing facilities; |

| ● | establishing and maintaining distribution relationships with third-parties that can provide adequate (in 
 amount and quality) infrastructure to support market demand for our products; and                        |

| ● | maintaining, protecting and expanding our portfolio of intellectual property rights, including patents, 
 trade secrets and know-how.                                                                             |

We have incurred significant losses in the past and will likely incur losses in the future.

We have incurred significant
operating losses in the past. We have financed our operations primarily through the issuance of equity and debt. We have devoted substantial
resources to:

| ● | research and development relating to our Lumee Oxygen and Glucose Platform; |

| ● | clinical studies for our Lumee Oxygen and Glucose Platform; |

| ● | execution and maintenance of our intellectual property portfolio; |

| ● | expenses associated with the commercialization of our Lumee Oxygen Platform; and |

| ● | expansion of our workforce. |

We expect our research
and development expenses to increase in connection with our continued clinical trials and other development activities related to
our products. We also expect that our general and administrative expenses will continue to increase due, among other things, to our
expansion of commercialization for the Lumee Oxygen and Glucose Platform and the additional operational and regulatory burdens
applicable to public healthcare and medical device companies. As a result, we will likely continue to incur operating losses in the
future. These losses, among other things, may have an adverse effect on our stockholders’ equity.

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We may need to raise additional funding to expand the commercialization of our products and services and to expand our research and development efforts. This additional financing may not be available on acceptable terms, or at all. Failure to obtain this necessary capital when needed may force us to delay, limit or terminate our product commercialization or development efforts or other operations.

Our operations have consumed
substantial amounts of cash since inception. We expect to expend substantial additional amounts to commercialize our products and services
and to develop new products and services. We expect to use the funds received in connection with the Business Combination to scale our
operations, develop new products and services, expand internationally, and for