Butterfly Network, a medical imaging technology company, has entered into a five-year co-development agreement with Forest Neurotech, a research company focused on brain imaging and stimulation. Under the agreement, Butterfly Network will receive $20 million for licensing, chip purchases, services, and milestone payments, with an initial payment of $3.5 million upon signing. The partnership aims to develop a minimally-invasive device for brain imaging and stimulation using ultrasound technology.
Forest Neurotech, a member of the Schmidt Futures Network’s Convergent Research program, is developing a device that utilizes ultrasound to image and stimulate the brain. Butterfly Network’s Ultrasound-on-Chip™ technology will be integral to enabling this novel approach. The partnership represents an opportunity for both companies to advance innovation in healthcare technology and semiconductor-enabled devices.
Joseph DeVivo, Butterfly Network’s President, CEO, and Chairman, expressed his enthusiasm for the partnership, stating that Forest Neurotech is an ideal partner that aligns with Butterfly Network’s vision. DeVivo emphasized the company’s commitment to fostering collaboration and pursuing new applications and markets for their disruptive chip technology.
Co-Founder and CTO of Forest Neurotech, Will Biederman, expressed his excitement about working with Butterfly Network and their unique Ultrasound-on-Chip™ technology. He believes that their shared passion for semiconductor-enabled healthcare technologies makes Butterfly Network the perfect match to realize their vision of developing the world’s first implanted, whole-brain neural interface.
This collaboration follows Butterfly Network’s recent launch of Butterfly Garden, a platform that enables partnerships with medical device companies, AI companies, and software developers seeking to leverage their imaging platform. Butterfly Network’s versatile Ultrasound-on-Chip™ technology, which operates at various frequencies and is compact in size, has received significant interest since the launch of Butterfly Garden.
The article ends by mentioning that Butterfly Network continues to accept applications for third-party development and expects to make further collaboration announcements in the future. Readers are encouraged to visit the Butterfly Network website for more information or to apply for partnership opportunities.
In summary, Butterfly Network and Forest Neurotech have joined forces to develop a revolutionary device for brain imaging and stimulation using ultrasound technology. With a commitment to innovation and semiconductor-enabled healthcare technologies, both companies are excited about the potential of this partnership. Butterfly Network’s Ultrasound-on-Chip™ technology and Forest Neurotech’s expertise in brain imaging and stimulation make them a formidable team in advancing medical technology.
