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confidence high
sentiment positive
materiality 0.70
Butterfly Network enters licensing deal with Midjourney for ultrasound-on-chip tech; $15M upfront + $10M annual fees
Butterfly Network, Inc.
- Exclusive license to Midjourney for Butterfly's semiconductor-based ultrasound technology in a specified field of use.
- One-time fee of $15M and annual license fee of $10M payable quarterly over the five-year term.
- Up to $9M in milestone payments plus revenue sharing and chip purchase payments.
- Five-year term subject to earlier termination for breach or insolvency.