Butterfly Network Announces Commercial Agreement with Mendaera for Next-Generation Interventional Robotic System Powered by Butterfly's Ultrasound-on-Chip™ Technology
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The strategic partnership between Butterfly Network and Mendaera signifies a notable advancement in healthcare technology, particularly within the domain of robotic-assisted interventions. The integration of Butterfly's Ultrasound-on-Chip™ technology into Mendaera's robotic system could potentially revolutionize image-guided procedures by enhancing precision and consistency, which are critical in needle-based interventions.
From an investment perspective, this collaboration presents a growth opportunity for Butterfly Network, as the revenue-sharing model promises a continuous income stream with each unit sold post-commercialization. The synergy between Butterfly's advanced ultrasound technology and Mendaera's robotic platform aligns with the broader industry trend towards minimally invasive procedures, which are increasingly favored for their potential to reduce patient recovery time and healthcare costs.
However, investors should consider the timeline for FDA submission, projected for 2025, which suggests a longer horizon before revenue impact is realized. Additionally, the success of this partnership hinges on regulatory approval and market adoption, which can be influenced by competing technologies and the pace of innovation within the medical device sector.
Butterfly Network's foray into the robotic intervention market through its partnership with Mendaera represents a strategic expansion beyond its current portable ultrasound offerings. The deal is poised to leverage the expertise of Mendaera's team, which has a proven track record following their previous venture's exit to Johnson & Johnson. This pedigree may instill investor confidence in the partnership's potential for success.
The anticipated FDA submission by 2025 places the product's timeline within a reasonable expectation for medical device development, though it is important to monitor the progress of the submission and eventual market entry. The current investment in research and design, as evidenced by Mendaera's recent Series A funding, underscores the commitment to innovation in this space.
Investors should also consider the broader implications of this technology in addressing healthcare system challenges, such as workforce shortages and professional burnout. By potentially improving efficiency and reducing procedural complexity, the robotic system could contribute to alleviating these systemic issues, thereby adding value to the healthcare market as a whole.
The commercial partnership between Butterfly Network and Mendaera is a significant development that could have a material impact on Butterfly's financial performance. The revenue-sharing agreement indicates a potentially lucrative deal structure for Butterfly, contingent on the commercial success of the robotic system.
Investors should note the $24 million Series A funding Mendaera has secured, which reflects strong backing from reputable venture capital firms and suggests confidence in the company's strategic direction. This financial injection is likely to support the development and FDA submission process, indicating a solid foundation for the partnership's future endeavors.
It is crucial for investors to track the progress towards FDA approval, as any delays or challenges could impact the projected revenue stream. Moreover, the adoption rate of the new robotic system in the market will be a key determinant of the financial outcome for both companies. Consideration of market readiness for such advancements and the competitive landscape will be essential in assessing the long-term financial implications of this partnership.
- Agreement with Mendaera represents the first Powered by Butterfly™ commercialization partnership.
- Partnership will bring Butterfly’s Ultrasound-on-Chip™ to the robotic intervention market, with revenue anticipated from every unit sold upon commercialization.
- Mendaera is the latest innovation from the team that previously exited Auris to Johnson & Johnson.
Mendaera’s robotic technology is compatible with Butterfly’s proprietary semiconductor-based ultrasound device and connected via Butterfly’s software development kit – Butterfly Garden™ – creating a system designed to improve precision and consistency for a broad range of image-guided, needle-based interventions. This new category of robotics will increase access to high quality interventional treatment, ultimately aiming to streamline patient care within a healthcare system burdened by workforce shortages and burnout. Both companies anticipate FDA submission of the product by 2025.
“Mendaera’s robotic system is perfectly suited to leverage Butterfly’s proprietary Ultrasound-on-Chip™ by benefiting from the wide array of ultrasonic sensing applications that only our chip can offer,” said Darius Shahida, Chief Strategy Officer of Butterfly Network. “We are excited to welcome the Mendaera team as a Powered by Butterfly partner and believe our joint solution will expand Butterfly’s reach and clinical impact into the interventional space.”
“At Mendaera, we envision a world where high-quality intervention is available at every care facility, for each and every patient encounter. It was a clear choice for us to collaborate with Butterfly on our technology roadmap, given their unique and programmable Ultrasound-on-Chip™ platform and aligned mission to make ultrasonic imaging and intervention ubiquitous,” said Josh DeFonzo, Co-Founder and CEO of Mendaera.
The news follows Mendaera’s August 2023 announcement of securing
To learn more about Butterfly Garden™ or Powered by Butterfly™, visit: https://www.butterflynetwork.com/butterfly-garden.
About Butterfly Network
Founded by Dr. Jonathan Rothberg in 2011 and listed on the New York Stock Exchange through a business combination with Longview Acquisition Corp., Butterfly created the world's first handheld, single probe whole-body ultrasound system using semiconductor technology, the Butterfly iQ+. Butterfly's mission is to democratize medical imaging and contribute to the aspiration of global health equity, making high-quality ultrasound affordable, easy-to-use, globally accessible, and intelligently connected, including for the 4.7 billion people around the world lacking access to ultrasound. Through its proprietary Ultrasound-on-Chip™ technology, Butterfly is paving the way for earlier detection and remote management of health conditions around the world. The Butterfly iQ+ can be purchased today by trained healthcare practitioners in areas including, but not limited to, parts of
About Mendaera
Mendaera’s vision is to digitize clinical judgment and technical expertise making high-quality care available for every patient at every care facility. Its platform combines robotics, real-time imaging, artificial intelligence, and connectivity to enable intervention at scale.
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Butterfly Business & Technology Inquiries:
Darius Shahida, Chief Business Development Officer
dshahida@butterflynetinc.com
Butterfly Media:
Liz Learned, Head of Corporate Communications
media@butterflynetwork.com
Butterfly Investors:
Heather Getz, Chief Financial and Operations Officer
investors@butterflynetwork.com
Source: Butterfly Network, Inc.
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