Butterfly Network Signs $15 Million Co-Development and Licensing Agreement with Midjourney
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Butterfly Network Inc. has signed a $15 million Co-Development and Licensing Agreement with Midjourney, Inc. The five-year agreement grants Midjourney an exclusive license to use Butterfly Network's semiconductor-based ultrasound technology. Midjourney will pay a one-time fee of $15 million, an annual license fee of $10 million, and up to $9 million in milestone payments. The agreement includes revenue sharing and chip purchase payments.
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