Beringea U.S., the transatlantic venture capital investor, participated in Delphinus Medical Technologies’ $30 million Series D financing round, meant to fuel worldwide commercialization of its SoftVue™ 3D Whole Breast Ultrasound Tomography System (SoftVue™). The fund’s closing follows the first sale of the SoftVue™ System, to Detroit-based Karmanos Cancer Institute, where the technology was conceived. Beringea first invested in Delphinus Medical Technologies in 2013.
“Every day it becomes increasingly obvious that we have delivered a game-changer technology to transform dense breast screening,” said Mark J. Forchette, president and CEO of Delphinus Medical Technologies. “When potential customers hear that SoftVue™ finds more cancers, delivers an exceptional patient experience and efficient patient workflow the same day as the mammogram without costly staff additions, they recognize the value for their patients. Our series D will support the robust commercial strategies and efforts needed to help sites quickly adopt this solution for their patients.”
Forty percent of women in the U.S. have dense breast tissue, and they have a four-to-six-times greater risk of developing breast cancer. Mammography alone misses about half the cancers in women with dense breasts, as dense tissue and cancer both appear white on mammogram images. SoftVue was developed to address this unmet clinical need and provides a new annual screening solution for this historically underserved population.
SoftVue™ is indicated for use as an adjunct to digital mammography in the screening of asymptomatic women with dense breast tissue. SoftVue™ enhances dense breast screening and identifies up to 20% more cancers with greater accuracy and potentially fewer biopsies than full field digital mammography (FFDM) alone. The SoftVue™ exam is completed with no compression or radiation, and its PMA indication for use allows SoftVue™ exams to be performed at the same appointment as screening mammograms, facilitating a streamlined workflow and rapid delivery of results.
“With this latest infusion of capital, Delphinus is poised to commercially penetrate the entire U.S. market, bringing life-saving technology to the nearly forty percent of women who are not adequately served by traditional mammography alone,” said Michael Gross, board director of Delphinus Medical Technologies and managing director of Beringea. “Mark and his team have persevered because they believed deeply in the promise of the SoftVue™ system, and it’s exciting to help their vision become a reality for so many patients.”
About Delphinus Medical Technologies, Inc.
Headquartered in Novi, Mich., Delphinus Medical Technologies, Inc. is a pioneering medical imaging company that has developed SoftVue™, featuring the first circular array transducer technology. The patented technology is a 3D whole breast ultrasound tomography system that delivers no radiation, requires no compression, and images the entire breast with a single scan.
SoftVue™ has previously received three 510(k)s, and the PMA approval for dense breast screening adjunct to mammography expands the company’s existing platform of approvals to include breast cancer screening in asymptomatic women with dense breast parenchyma after confirmation that the breast density composition is BI-RADS c or d at the time of screening mammography. The device is not intended to be used as a replacement for screening mammography. SoftVue can be used at the same visit as screening mammography, and the SoftVue images are intended to be interpreted with the mammogram results to enhance screening.www.delphinusmt.com