Delphinus Medical Technologies, Inc., a Plymouth, Mich.-based developer of advanced breast ultrasound technology, secured $39.5m in Series C venture capital funding.
The round was led by Venture Investors, with participation from new investors Hopen Life Science Ventures and Waycross Ventures and current investors Arboretum Ventures, Beringea, and North Coast Technology Investors.
The company intends to use the funds to underwrite regulatory efforts and accelerate the commercialization plans for SoftVue™.
Led by Mark J. Forchette, president and CEO, Delphinus is a healthcare imaging company that develops SoftVue, a whole breast ultrasound system that allows physicians to image the entire breast, including the chest wall, for diagnostic imaging purposes. As an ultrasound technology, the product offers the potential to assist physicians in finding more cancers and to reduce the false positive rates that have troubled other breast imaging techniques.
The company is planning to launch a large multi-site clinical study to support a PMA application for a supplemental screening indication for women with dense breasts. Later this year, it will begin by prospectively imaging 10,000 women with SoftVue in eight centers around the country.
Delphinus also has a satellite office in Sunnyvale, Calif.