Trinity Capital Inc. Provides $12 Million Growth Capital to Delphinus Medical Technologies, Inc.

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Trinity Capital commits $12 million in growth capital to Delphinus Medical Technologies, a medical imaging company with innovative breast screening technology. The SoftVue system improves cancer detection and patient comfort. Delphinus expands commercial foundation with Corewell Health. The investment will help Delphinus scale operations and make impactful investments to address unmet patient needs.

PHOENIX, Aug. 22, 2023 /PRNewswire/ -- Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity" or the "Company"), a leading provider of diversified financial solutions to growth-stage companies, today announced the commitment of $12 million in growth capital to Delphinus Medical Technologies, Inc. ("Delphinus"), a medical imaging company that has developed SoftVue™, a dense breast screening innovation that increases cancer detection and decreases unnecessary call backs, while delivering a comfortable patient experience.

The SoftVue™ 3D Whole Breast Ultrasound Tomography System was approved by the U.S. Food & Drug Administration (FDA) in October 2021. This disruptive technology not only redefines the standards for early breast cancer detection but also enhances patient comfort, with 95% of women who have experienced SoftVue indicating they would recommend the exam to other women. Delphinus continues to expand its commercial foundation and most recently added Corewell Health as a commercial site to build a robust dense breast screening program to benefit patients.

"We are excited to be a part of Delphinus' journey as they innovate life-saving medical imaging technology," said Lauren Cosentino, Managing Director, Life Sciences at Trinity. "We believe in their team and are excited to help accelerate their growth trajectory."

This growth capital will enable the team at Delphinus to continue to scale operations and broaden their impact in the global healthcare community.

"Mammography is not enough to address the screening needs of dense breast patients," said Mark J Forchette, President and CEO of Delphinus Medical Technologies. "The addition of SoftVue for dense breast screening implements a comprehensive solution for sites to transform the clinical experience of their patients. Our relationship with Trinity Capital helps us make impactful investments to help sites embrace this innovation and serve the unmet patient needs that SoftVue was designed to address. We are thrilled to work together." 

About Trinity Capital Inc.
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments. Trinity Capital believes it is one of only a select group of specialty lenders that has the depth of knowledge, experience and track record in lending to growth stage companies. For more information, please visit the Company's website at www.trinitycap.com.

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.

Delphinus was founded as a spin out of the Karmanos Cancer Institute in Detroit. For more information, visit www.delphinusmt.com.

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SOURCE Trinity Capital Inc.