Butterfly Network Announces 5-Year Co-Development Agreement With Forest Neurotech For Next-generation Brain Computer Interfaces Using Ultrasound-On-Chip Technology
Portfolio Pulse from Benzinga Newsdesk
Butterfly Network (BFLY) and Forest Neurotech have announced a five-year co-development agreement to develop the first implanted, whole-brain neural interface using Butterfly's Ultrasound-on-Chip technology. The deal includes $20MM in milestones paid to Butterfly with additional revenue anticipated upon commercialization for every unit sold. This collaboration is part of Butterfly's initiative to encourage innovation and expedite the potential of its disruptive chip technology through new applications and in adjacent markets.
October 24, 2023 | 12:11 pm
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Butterfly Network's partnership with Forest Neurotech for the development of a whole-brain neural interface could potentially increase its revenues and market presence. The deal includes $20MM in milestones and additional revenue upon commercialization.
The partnership with Forest Neurotech could potentially increase Butterfly Network's revenues and market presence. The deal includes $20MM in milestones and additional revenue upon commercialization, which could significantly boost Butterfly's financial performance. Furthermore, the collaboration could enhance Butterfly's reputation as a leader in the field of ultrasound technology, potentially attracting more partnerships and increasing its market share.
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