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University of Michigan Wolverine Venture Fund Invests in Delphinus Medical Technologies
Date:6/3/2010

Student-Led Venture Fund Participates in $8 Million Series A Round of Financing led by Co-Investor Arboretum Ventures

ANN ARBOR, Mich., June 3 /PRNewswire/ -- The Wolverine Venture Fund (WVF), managed by The Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies at the University of Michigan Ross School of Business, today announced participation in an $8 million series A round of financing for Delphinus Medical Technologies, Inc.  

Detroit-based Delphinus Medical Technologies, Inc., a spin-out from the Karmanos Cancer Institute, has developed an automated whole-breast ultrasound imaging system for breast cancer detection, risk evaluation, and treatment monitoring.  Delphinus will use the funding to complete the commercial product design and file for regulatory clearance.

With more than ten years of investment and innovation, the $5.2 million Wolverine Venture Fund is the country's first student-led venture fund and has served as a model for other university programs over the years.  Since its inception, the Wolverine Venture Fund has invested in more than 18 companies in a wide range of innovative industries such as information technology, life sciences and alternative energy.

The WVF student team responsible for conducting due diligence and spearheading the investment represented a mix of business, accounting and healthcare consulting expertise, all of
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SOURCE Samuel Zell & Robert H. Lurie Institute for Entrepreneurial Studies
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