BERKELEY, Calif., June 24, 2026 (GLOBE NEWSWIRE) -- Profusa, Inc. (Nasdaq: PFSA), a digital health company pioneering next-generation biosensing technologies, announces that shareholders approved all proposals presented at the Company's 2026 Annual Meeting of Shareholders held on June 23, 2026.
The approved proposals included authorization related to the Company's planned acquisition of the PanOmics multi-omics diagnostics platform from BioInsights LLC, approval of debt conversion-related matters intended to strengthen the Company's balance sheet, authorization for a reverse stock split if deemed necessary by the Board to support Nasdaq listing compliance efforts, the election of a director, an amendment to the Company's equity incentive plan, and authority to adjourn the meeting if additional shareholder solicitation became necessary.
Collectively, the approved proposals provide Profusa with important tools to advance key strategic initiatives, strengthen its capital structure, support ongoing Nasdaq compliance efforts and position the Company for future growth.
"In my recent letter to shareholders, I emphasized the importance of participation in this year's Annual Meeting and the significance of these proposals to Profusa's future," said Ben Hwang, Ph.D., CEO & Chairman of the Board of Profusa. "We are grateful that our shareholders responded with their support. Today's outcome reflects a strong endorsement of the Company's strategic direction and provides management with important flexibility to execute on initiatives designed to strengthen the Company, advance innovation and create long-term shareholder value.
"We believe the proposals approved by shareholders unlock strategic levers for the evolution of Profusa including supporting our efforts to complete the PanOmics transaction, strengthening our balance sheet and maintaining compliance with Nasdaq listing requirements. Together, these actions enhance our ability to execute on our vision of building a leading precision health company at the intersection of biosensing, diagnostics and artificial intelligence," added. Dr. Hwang.
A key component of the shareholder vote was approval of the proposal supporting the Company's previously announced acquisition of PanOmics. Profusa believes the acquisition has the potential for strategic expansion into multiple high-growth markets and establishing a scalable diagnostics and monitoring platform that can work synergistically with Profusa's biosensor platform.
With shareholder approval now secured, Profusa intends to focus on completing the PanOmics transaction, continuing its efforts to maintain compliance with Nasdaq listing standards, strengthening its capital structure, advancing commercialization initiatives and pursuing strategic opportunities designed to drive long-term growth.
Detailed voting results from the Annual Meeting were reported in a Current Report on Form 8-K filed on June 23, 2026 with the U.S. Securities and Exchange Commission.
About Profusa
Based in Berkeley, CA, Profusa is a digital health company led by visionary scientific founders, an experienced management team and a world-class board of directors in the development of a new generation of tissue-integrated sensors to detect and continuously transmit actionable, medical-grade data for personal and medical use. With its long-lasting, injectable and affordable biosensors and its intelligent data platform, Profusa aims to provide people with a personalized biochemical signature rooted in data that clinicians can trust and rely on.
"LUMEE", "PROFUSA" and the PROFUSA logo are registered trademarks of Profusa, Inc. in the United States, Canada, European Union, China, Japan, South Korea and Australia.
For more information, visit https://profusa.com.
Special Note Regarding Forward-Looking Statements
Certain statements in this press release may be considered "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or future financial or operating performance of Profusa, including statements regarding the proposed acquisition, the anticipated launch of PanOmics DX, and Profusa's strategic plans. In some cases, you can identify forward-looking statements by terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "forecast," "future," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "propose," "seek," "should," "strive," "will," or "would" or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other factors which may be beyond the control of Profusa and could cause actual results to differ materially from those expressed or implied by such forward-looking statements including, without limitation, risks related to the Company's planned European and U.S. product launches, the risk that such product launches may not result in revenue at the levels anticipated, the risk that customer demand may be less than expected, and risks relating to the Company's withdrawal of the Registration Statement and conducting a smaller offering of its securities. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by Profusa and its management, are inherently uncertain. Profusa cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. There are risks and uncertainties described more fully in the Company's public filings made by Profusa from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Profusa cannot assure you that the forward-looking statements in this communication will prove to be accurate.
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