Delphinus Medical Technologies raises over $39 million in capital

Delphinus Medical Technologies, a breast ultrasound technology company, announced this week that it raised over $39 million in a venture capital round.

The Series C venture round, led by Venture Investors, included investments from Hopen Life Science Ventures, Waycross Ventures, Arboretum Ventures, Beringea, and North Coast Technology Investors.

SoftVue, the whole breast ultrasound system developed by Delphinus, is at the center of these investments.

“Our series C financing demonstrates the confidence that sophisticated medical device investors have in our SoftVue automated whole breast ultrasound technology, and its potential to serve women with a transformational approach to breast imaging,” Mark J. Forchette, Delphinus president and CEO, said in the same statement. “This syndicate of investors combines the robust strength of the Midwest venture capital community with investors in Silicon Valley to provide diverse support for our breakthrough system, which was invented right here in Michigan.”

“Delphinus has the potential to have a profound impact on the effectiveness of breast cancer screening for a significant population of women who have dense breasts,” John Neis, Venture Investors managing director, said in a statement. “Data from their innovative approach demonstrate the potential to detect cancers in women with dense breast tissue that are missed by mammography, without the unacceptable false positive rate that has plagued prior attempts using screening ultrasound. They have assembled a world-class team, and we are proud to help pull together this strong investor syndicate, giving them the resources to complete the necessary clinical studies and bring this life-saving tool to the market.”