US biotech company raises US$30m for breast ultrasound technology

A US biotech company has announced the closing of a US$30m funding round to bring its breast ultrasound tomography system to market.

Delphinus Medical Technologies will use the funding to fuel the commercialisation of its SoftVue™ 3D Whole Breast Ultrasound Tomography System believed to enhance dense breast screening and identify up to 20 per cent more cancers with potentially fewer biopsies than full field digital mammography.

The technology is a 3D whole breast ultrasound tomography system that delivers no radiation and images the entire breast with a single scan and it is indicated for use as an adjunct to digital mammography in the screening of asymptomatic women with dense breast tissue.

The SoftVue exam is completed with no compression or radiation, and its premarket approval (PMA) indication for use allows SoftVue exams to be performed at the same appointment as screening mammograms, facilitating a rapid delivery of results.

Forty percent of women in the US have dense breast tissue, and they have a four-to-six-time 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 aims to address this unmet clinical need and provide a new annual screening solution for thousands of women.

“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 the Michigan-based medical imaging company.

“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 recognise 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.”

Paul McCreadie, Delphinus Medical Technology’s board chairman and Arboretum Ventures COO, said: “Our board of directors and investors are very excited to launch into commercial activities with SoftVue.

“The successful completion of a rigorous clinical study that resulted in the PMA approval we received last year for dense breast screening will allow the Delphinus team to leverage the unique technology of SoftVue to change the paradigm for dense breast screening and help millions of women receive superior care.

“We invest to allow breakthrough innovations to serve patients, and Delphinus is perfectly poised to do exactly that.”