Profusa, Inc. · NASDAQ:PFSA
Profusa — NorthView Acquisition — SPAC Merger (March 2023)
35 slides from Profusa's SPAC merger presentation, Mar 2, 2023
Slide 1: Q1 2023 Investor Presentation
NASDAQ: PFSA (NVAC) Q1 2023 INVESTOR PRESENTATION ”Leading the marriage of personal healthcare and AI-led real-time technology”
Slide 2: Disclaimer and Safe Harbor Statement
DISCLAIMER AND SAFE HARBOR STATEMENT 2 This presentation (the “Presentation”) contains confidential information and is solely being made available on a confidential basis, and subject to the following provisions to a limited number of selected persons and/or institutions (each a “Recipient“ together
Slide 3: Who We Are
WHO WE ARE 3 Profusa, Inc. is a commercial-stage company located in the Bay Area that has invested almost $100M over 10 years developing a new generation of bio-engineered sensors that empower the real-time monitoring of body chemistry with the objective of transforming the management of personal he
Slide 4: Key Investment Highlights
4 KEY INVESTMENT HIGHLIGHTS Market Introduction valuation of $150+ million with more than $100 million invested O2 product validated and approved in EU for 2023 commercial launch CGM product data compelling: seeking EU and US approvals Low COGS and distribution/commercialization costs with > 60% con
Slide 5: Our Technology Model
OUR TECHNOLOGY MODEL 5 Profusa Cloud Low maintenance, cost effective, AI adaptive personal health management platform Low-cost novel subcontainous biologically compatible hydrogel micro-sensor 9+ months functionality INJECTABLE HYDROGEL MICRO-SENSOR Reusable optical reader and data management Contin
Slide 6: How AI Drives Our Digital Healthcare Technology
6 HOW AI DRIVES OUR DIGITAL HEALTHCARE TECHNOLOGY Machine learning to create algorithms for enhanced monitoring Accounting for variations of the tissue composition for continuous accuracy while still using the single injectable sensor Multiple calculations around other physical variables and fluctua
Slide 7: Profusa Specific Growth Platforms
PROFUSA 3 SPECIFIC GROWTH PLATFORMSTransformative Technology with Significant Commercial Opportunities 7 OXYGEN PLATFORM: GLUCOSE PLATFORM: DATA PLATFORM: CE approved Near-term product revenue Address clinical need in wound care KOL support in EU and US Expandable to extend to home remote monitoring
Slide 8: CE-Marked Lumee Continuous Tissue Oxygen Monitoring
CE-MARKED LUMEETM CONTINUOUS TISSUE OXYGEN MONITORING 8 Charger
Slide 9: Lumee Oxygen Provides Real-Time Insights During Surgery
LumeeTM OXYGEN PROVIDES REAL-TIME INSIGHTS DURING SURGERYVALIDATES PROFUSA TECHNOLOGY PLATFORM 9 Therapeutic Interventions Lumee Oxygen Index [-] Remove Sheath Baseline Note (1): J. Vasc. Surg., June 2015, Volume 61:6, 1501-10 Lumee™ Oxygen Platform reports local tissue oxygen levels during PAD surg
Slide 10: Oxygen Market Opportunity
OXYGEN MARKET OPPORTUNITY 10 LARGE UNMET NEED Monitoring of compromised tissue, such as peripheral artery disease that results in narrowing of blood vessels and reduced blood flow to the lower limbs – >$1.5bn market with ~3m patients Chronic wounds (diabetic ulcers, pressure sores) that do not heal
Slide 11: Data Rich, Accessible, Low-Cost CGM for All
DATA RICH, ACCESSIBLE, LOW-COST CGM FOR ALL 11 Profusa Cloud Reader Current CGM Pain Points Profusa’s CGM Solution New sensor required every 10–14 days Overcomes foreign body response: >270 days functionality 180-day solution requires surgical implant Simple hypodermic needle injection of sensor Up
Slide 12: Lumee Glucose Clinical Trial Demonstrated Safety & Functionality
12 LUMEE™ GLUCOSE CLINICAL TRIALDEMONSTRATED SAFETY & FUNCTIONALITY Clinical trial evaluated the safety and functionality of the glucose platform, sensor, reader and AI platform 4 Clinical sites Two European clinical sites Two Asian clinical sites 54 Subjects enrolled 108 Sensors injected; 398 study
Slide 13: Differentiated, Best-in-Class CGM Solution
DIFFERENTIATED, BEST-IN-CLASS CGM SOLUTION 13 Insertion apparatus Insertion apparatus Surgical insertion and removal Simple injection – hypodermic needle Sensor Functional Lifetime (days) Deployment Method Dexcom Medtronic Abbott Senseonics Current CGM market share mostly in intensively managed type
Slide 14: Redefining >500M TAM
REDEFINING >500M TAM FROM “CAN YOU AFFORD IT” TO “DO YOU NEED IT?” 14 Current CGM TAM Profusa TAM Established benefit of CGM across diabetes spectrum Woefully under-penetrated opportunity >1.5M CGM users >71M Diagnosed 107M At-risk patient monitoring(5) ≈27M Diagnosed (US/EU) prediabetes patients(5)
Slide 15: Commercialization Strategy – Lumee Glucose & Oxygen
COMMERCIALIZATION STRATEGY – LUMEETM GLUCOSE & OXYGEN (EU/US) 15 Profusa Commercial Team (Manage Partner & Distributor Performance) Commercial Partners Oxygen High Volume Hospital Centers Ambulatory Centers & Doctors’ Offices Glucose Diabetes Centers, Endocrinology Practices T1, T2, Prediabetics, We
Slide 16: Anticipated Milestones, Catalysts
ANTICIPATED MILESTONES, CATALYSTS 16 Program 2023 2024 2025 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q2 LumeeTM Glucose LumeeTM Oxygen Commercial Partnerships Human Validation Data Published Human Pivotal Studies US/EU/Asia CE/FDA Submission Process Glucose Commercialization and Revenues EU Commercialization a
Slide 17: Mission Driven Executive Management
MISSION DRIVEN EXECUTIVE MANAGEMENT 17 From his early exposure as an undergraduate research fellow at the lab of Leroy Hood at Caltech, where the automated DNA sequencer was developed, to bringing cutting edge life sciences tools to the market at Life Technologies Corp. (acquired by Thermo Fisher Sc
Slide 18: Transaction Overview
profusa TRANSACTION OVERVIEW
Slide 19: Transaction Overview
TRANSACTION OVERVIEW 19 PRO FORMA OWNERSHIP2 ILLUSTRATIVE SOURCES AND USES1 ILLUSTRATIVE PRO FORMA VALUATION 87% Redemptions 92% Redemptions Public holders Profusa holders SPAC sponsor Does not include Company or Sponsor incentive share earn-out of 1..3 million shares or Company performance earnout
Slide 20: Use of Proceeds & Near-Term Milestones
USE OF PROCEEDS & NEAR-TERM MILESTONES* 20 $27M Clinical studies and regulatory submission Commercial partnerships and EU distribution EU/US commercial operational capabilities Commercial-readiness preparation Future product development** US Pivotal study and FDA submission process Working capital**
Slide 21: Value Proposition – De-Risked Technology
VALUE PROPOSITION – DE-RISKED TECHNOLOGY 21 Potential to change industry standard functionality from 14 to 90 days and eventually >270 days ~10 years and ~$100M invested in developing technology. More than 88 global issued and 79 pending patents Clinical (human data) and third-party validation (DARP
Slide 22: Key Investment Highlights - Summary
22 KEY INVESTMENT HIGHLIGHTS - SUMMARY Valuation aligned with significant upside potential Compelling multi-product platform with 2023 revenue High margin potential with transformative global TAM AI driven capabilities attractive to the capture of multi-vertical application opportunities Light capit
Slide 23: Investor & Media Relations
23 Investor & Media Relations: CORE IRBret Shapiro brets@coreir.com NASDAQ: PFSA (NVAC)
Slide 24: Appendix & Risk Factors
profusa APPENDIX & RISK FACTORS
Slide 25: Glucose Study Subject Demographics
GLUCOSE STUDY SUBJECT DEMOGRAPHICS 25 Site 1 2 3 4 Location Germany Austria Vietnam Vietnam Subjects 12 12 16 7 7 Data Sets 121 60 124 63 68 Diabetes Type 1 12 9 15 0 1 Type 2 0 3 1 7 6 Gender Male 10 8 9 2 6 Female 2 4 7 5 1 Age (years) Mean 60 55 43 57 55 Min 44 29 20 45 40 Max 69 82 72 66 62 BMI
Slide 26: Data : Healthcare :: Google : Advertising
DATA : HEALTHCARE :: GOOGLE : ADVERTISING 26 Real-time clinical-based biochemical data Link activity and choices to clinical outcomes Large-scale applications across multiple population groups Potential B2B data partnerships with companies with large consumer-based populations (i.e., Google, Apple,
Slide 27: Oxygen Platform: Potential Pharmacoeconomic Benefits in CLI/PAD Patients
OXYGEN PLATFORM: POTENTIAL PHARMACOECONOMIC BENEFITS IN CLI/PAD PATIENTS 27 Sources for Cost http://www.jvascsurg.org/article/S0741-5214(12)00484-3/pdf Revascularization Surgery Post-Op Wound Healing Improve outcome by providing real-time feedback intraoperatively Decreased Cost & Morbidity Reduce o
Slide 28: Glucose Performance Summary
GLUCOSE PERFORMANCE SUMMARY 28 After 2-point calibration, glucose predictions from held-out clinical sessions are modeled Mean MARD across paired glucose reference measurements is 11.7% Data from 7-90 days post injection 163 sessions from 37 patients pass data quality filters Neural network model Mo
Slide 29: Studies Demonstrated Consistent Long-Term Performance >270 Days
STUDIES DEMONSTRATED CONSISTENT LONG-TERM PERFORMANCE >270 DAYS 29 Days 3-90 Days 91-150 Days 151-275
Slide 30: Risk Factors
RISK FACTORS Carefully consider the following risk factors, among others that will be contained in (or coordinated by reference into) the proxy statement / prospectus, related to Profusa’s business, reputation, financial condition, results of operations, revenue and the future prospects if the busin
Slide 31: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) RISKS RELATED TO PROFUSA AND ITS INDUSTRY (Cont’d) Profusa faces substantial competition, which may result in others discovering, developing or commercializing products more quickly or marketing them more successfully than Profusa. If Profusa fails to develop additional product
Slide 32: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) RISKS RELATED TO NORTHVIEW AND THE BUSINESS COMBINATION (Cont’d) If a stockholder fails to receive notice of our offer to redeem our public shares in connection with our business combination, or fails to comply with the procedures for tendering its shares, such shares may not b
Slide 33: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) RISKS RELATED TO NORTHVIEW AND THE BUSINESS COMBINATION (Cont’d) Our executive officers and directors allocate their time to other businesses thereby causing conflicts of interest in their determination as to how much time to devote to our affairs. This conflict of interest cou
Slide 34: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) RISKS RELATED TO NORTHVIEW AND THE BUSINESS COMBINATION (Cont’d) If, after we distribute the proceeds in the trust account to our public stockholders, we file a bankruptcy petition or an involuntary bankruptcy petition is filed against us that is not dismissed, a bankruptcy cou
Slide 35: Risk Factors (Cont'd)
RISK FACTORS (CONT’D) RISKS RELATED TO NORTHVIEW AND THE BUSINESS COMBINATION (Cont’d) We may amend the terms of the warrants in a manner that may be adverse to holders of public warrants with the approval by the holders of at least 65% of the then outstanding public warrants. We may redeem your une