Profusa, Inc. (Nasdaq: PFSA), a digital health company based in Berkeley, California, has announced a strategic expansion into molecular diagnostics through a Letter of Intent (LOI) to acquire the PanOmics multi-omics diagnostics platform from Bio Insights LLC for approximately $30 million. This acquisition is expected to enhance Profusa's capabilities in precision medicine and biosensing technologies, particularly in the oncology sector. The transaction is structured to be satisfied entirely through the issuance of equity securities, including 460,000 shares of common stock and a new series of preferred stock convertible into 59,540,000 shares of common stock. The deal is contingent upon the negotiation of a definitive agreement, customary closing conditions, and shareholder approval. Profusa anticipates that this acquisition will provide immediate revenue opportunities and strengthen its market position in the rapidly growing diagnostics sector. The company also plans to pursue additional financing to support the development and scaling of the PanOmics platform, which is expected to generate significant near-term revenue, particularly in light of recent reimbursement guidance from the Centers for Medicare and Medicaid Services (CMS) requiring next-generation sequencing testing in oncology. Furthermore, Bio Insights will receive a 3% royalty on net revenue generated from the PanOmics platform, aligning both companies' interests in the success of the new diagnostics offerings. Profusa's CEO, Dr. Ben Hwang, emphasized the strategic importance of this acquisition, stating that it positions the company to build a differentiated presence in precision diagnostics and surgical monitoring, particularly for pancreatic cancer applications. The LOI includes provisions for Bio Insights to nominate an independent board member to Profusa's board, reflecting a collaborative approach to governance post-acquisition. The transaction is seen as a pivotal step in Profusa's evolution, enhancing its portfolio and market reach in the diagnostics field.

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