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Delphinus Adds Two Directors Following Venture Funding Round.

M2 PHARMA-December 21, 2015-Delphinus Adds Two Directors Following Venture Funding Round


- US-based breast ultrasound technology specialist Delphinus Medical Technologies, Inc. has added two new senior-level advisors to its board of directors, the company said on Monday.

John Neis and Michael Fulton, M.D., will help guide the company as it develops commercialisation plans for SoftVue, Delphinus' breakthrough whole breast ultrasound system that allows physicians to image the entire breast for diagnostic imaging purposes.

The appointments cap off Delphinus' Series C venture round, which garnered more than USD 39m.

This unprecedented venture capital funding is the single largest amount ever raised for a healthcare imaging company in the Midwest, as well as the largest for a medical device company in Michigan.

Neis is a managing director at Venture Investors LLC, which focuses on opportunities emerging from leading research universities in the Midwest.

He currently serves on the boards of several other healthcare companies, and he is a member of the board of the Wisconsin Technology Council, the science and technology advisor to the state's governor and legislature.

Neis also serves on the Dean's advisory board and the Weinert Applied Ventures Program advisory board in the School of Business and chairs the Tandem Press advisory board in the School of Education at the University of Wisconsin Madison.

Fulton, a managing director at Hopen Life Science Ventures, has spent his entire career in the life sciences space, including 18 years as a successful investor and entrepreneur.

Prior to joining Hopen, he served in the roles of founder, director, and CEO at a number of healthcare companies, including Lanx, Inc., (purchased by Biomet), and ProNerve, LLC (purchased by a private equity firm).

Fulton is an inventor of multiple medical devices, and holds more than 50 US and international patents. He received his Bachelor of Arts degree from Northwestern University, his medical degree from Cornell University Medical College, and completed two years of neurosurgery residency at the Cleveland Clinic.

As an ultrasound technology, SoftVue offers the potential to not only assist physicians in finding more cancers, but also to reduce the false positive rates that have troubled other breast imaging techniques.

SoftVue's unparalleled, sophisticated design incorporates a circular ultrasound transducer, unique to medical imaging, presenting cross-sectional ultrasound slices through the entire volume of breast tissue.

The multi-dimensional imaging captures not only reflected echoes in a 360-degree array, but also signals passing through the breast, depicting tissue characterisation.

Headquartered in Plymouth, Mich. with a satellite office in Sunnyvale, Calif., Delphinus Medical Technologies, Inc. is a medical imaging company that has developed SoftVue, the first circular array transducer technology that has received sequential US Food and Drug Administration clearances.

The patented technology is a whole breast ultrasound imaging device that delivers no radiation, requires no compression, and images the entire breast with a single scan.

SoftVue is indicated for use as a B-mode ultrasonic imaging system and is not intended to be used as a replacement for screening mammography.

Delphinus was founded as a spin out of the Karmanos Cancer Institute in Detroit and is capitalised through principal investments by Arboretum Ventures, Ann Arbor, Mich., Beringea, Farmington Hills, Mich., North Coast Technology Investors, Ann Arbor, Mich., Venture Investors, Madison, Wis., Hopen Life Science Ventures, Grand Rapids, Mich., and Waycross Ventures, Menlo Park, Calif.

Venture Investors was founded in 1982 and is a leading seed and early stage venture capital firm in the Midwest.

It is principally focused on healthcare and technology opportunities emerging from the ecosystems around leading Midwestern research universities, with offices in Madison, Wisconsin and Ann Arbor, Michigan near two of the top five research universities in the nation.

Hopen Life Science Ventures is a Midwest-based venture capital firm that invests in exceptional early- to mid-stage life science opportunities.

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Publication:M2 Pharma
Geographic Code:1U3MI
Date:Dec 21, 2015
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