Butterfly Network Announces Commercial Agreement With Mendaera For Next-Generation Interventional Robotic System Powered By Butterfly's Ultrasound-On-Chip Technology
Portfolio Pulse from Benzinga Newsdesk
Butterfly Network, Inc. (BFLY) has entered into a commercial agreement with Mendaera to integrate Butterfly's Ultrasound-on-Chip technology into Mendaera's next-generation robotic system for interventional procedures. The partnership is expected to generate revenue for Butterfly from each unit sold post-commercialization. The product, which aims to improve precision in image-guided interventions, is anticipated to be submitted to the FDA by 2025. This follows Mendaera's $24 million Series A funding round and the completion of their research and design process.
December 19, 2023 | 1:07 pm
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POSITIVE IMPACT
Butterfly Network's partnership with Mendaera to commercialize a robotic system with its Ultrasound-on-Chip technology could lead to increased revenue streams and market expansion. The anticipation of FDA submission by 2025 indicates a long-term growth strategy.
The commercial agreement with Mendaera is directly related to Butterfly Network's core business of ultrasound technology. The deal is expected to create a new revenue stream for BFLY, which is positive for the company's financial outlook. However, since the FDA submission and subsequent commercialization are expected by 2025, the immediate short-term impact may be limited. The confidence score reflects the potential for increased revenue but also acknowledges the time frame for realization and the uncertainties involved in new product development and regulatory approval.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100