On November 17, 2025, Butterfly Network, Inc. announced a significant Co-Development and Licensing Agreement with Midjourney, Inc. This deal focuses on Butterfly’s innovative semiconductor-based ultrasound technology. Under this exclusive agreement, Midjourney receives a non-transferable license to utilize Butterfly’s ultrasound-on-chip technology and software within a designated field. The financial terms include a one-time fee of $15 million and an annual $10 million license fee, payable quarterly. Additionally, Midjourney may contribute up to $9 million for milestone achievements and engage in revenue sharing as it commercializes hardware products using Butterfly’s chips. The five-year agreement outlines conditions for early termination due to breaches or insolvency and incorporates standard confidentiality and intellectual property clauses. It also allows Midjourney the option to upgrade its license under certain conditions. This collaboration aims to enhance the application of ultrasound technology in the medical field, aligning with advancements in healthcare solutions.
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