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Delphinus Medical Technologies scores $11M in Series B funding round

Delphinus Medical Technologies has raised a Series B round of seed capital worth $11 million in equity and debt financing as it prepares to commercialize its SoftVue platform next year.

The 4-year-old start-up describes SoftVue as a “whole breast ultrasound tomography system” that will help diagnose breast cancer. Delphinus Medical Technologies filed for clearance for the technology with the U.S. Food & Drug Administration, which should be one of the final steps it needs to take before it begins making its first sales.

“We hope to get the clearance by the end of the year,” says Bill Greenway, CEO of Delphinus Medical Technologies. He adds that will open the door to start sales through a dealer-distribution network in early- to mid-2014.

SoftVue originated in the labs of Wayne State University and the Karmanos Cancer Institute. It spun out of those institutions in 2009 and moved to Plymouth. It raised $12 million in a Series A round in the spring of 2010. The Series B round was co-led by Arboretum Ventures in Ann Arbor and Beringea in Farmington Hills. North Coast Technology Investors also participated in the Series B.

Delphinus Medical Technologies
has hired three people over the last year. Those hires included an electronics technician, a sales professional and a vice president of marketing. It currently has a staff of 20 employees and the occasional intern. The company is also looking to hire three people right now, primarily scientists and engineers.

Source: Bill Greenway, CEO of Delphinus Medical Technologies
Writer: Jon Zemke
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  • Delphinus Medical Technologies
    Plymouth, MI 48170 Website
    Delphinus Medical Solutions' principal product is SoftVue, an alternative to mammography for breast cancer detection, risk evaluation, and treatment monitoring. SoftVue can effectively differentiate benign from malignant masses in breasts, ...