Butterfly Network’s iQ3™ Honored as the Best Medical Technology at 2024 Prix Galien USA Awards

BURLINGTON, Mass. & NEW YORK--(BUSINESS WIRE)--Nov 8, 2024--

Butterfly Network, Inc. (“Butterfly”) (NYSE: BFLY), a digital health company transforming care through the power of portable, semiconductor-based ultrasound technology and intuitive software, today announced that Butterfly iQ3™, its third-generation handheld ultrasound device, was the recipient of the Best Medical Technology Award at the 2024 Prix Galien USA Awards by the Galien Foundation.

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The Galien Foundation was established to foster and reward outstanding achievements in improving the global human condition through the development of innovative drugs and other treatments. First created in 1970 in honor of Galien, the father of medical science and modern pharmacology, the Prix Galien Awards have since grown into an influential program convening healthcare stakeholders across industry, science, government and medical press worldwide. The Prix Galien Awards are regarded as the “Nobel Prize of Life Sciences,” and the highest accolade for healthcare research and development.

This prestigious recognition highlights Butterfly’s commitment to making ultrasound imaging more affordable, sustainable, and scalable through its pioneering Ultrasound-on-Chip™ technology. The Butterfly iQ3 represents a leap forward in ultrasound technology, building upon the success of its predecessors with enhanced AI-powered features and novel digital image capture capabilities. Built on Butterfly’s proprietary P4.3 semiconductor – its most powerful Ultrasound-on-Chip™ platform released to date – the iQ3 represents a digital revolution in the ultrasound industry by offering clinicians portable, semiconductor-based imaging with premium handheld quality.

“Winning the Prix Galien Award for Best Medical Technology is an extraordinary testament to the hard work and dedication of our team that brought iQ3 to market this year,” said Joseph DeVivo, President, Chief Executive Officer, and Board Chairman of Butterfly Network. “Our Ultrasound-on-Chip™ technology harnesses the exponential advancements of Moore’s Law, allowing us to deliver increasingly powerful and cost-effective imaging tools. By leveraging this innovation, we are democratizing ultrasound, enabling practitioners everywhere to make faster, more accurate decisions, and ultimately transforming patient care on a global scale.”

Alongside Butterfly, this year’s awardees across various categories includes Pfizer, AstraZeneca, Daiichi Sankyo US, and other highly respected industry leaders.

In today’s announcement, Michael Rosenblatt, MD, Chair of the Prix Galien USA Awards Committee, Former Dean of Tufts University School of Medicine, and former Chief Medical Officer of Merck & Co. Inc., commented, "The Awards Committee is honored to witness the exceptional dedication and creativity of our nominees as they turn visionary ideas into transformative solutions for patients worldwide. Their unwavering commitment to advancing patient care is truly commendable, and we are honored to celebrate their outstanding contributions to global health.”

Butterfly is honored to be recognized as the Best Medical Technology against a world-class group of nominees. To view the full list of 2024 nominees, visit: https://www.prnewswire.com/news-releases/the-galien-foundation-announces-2024-prix-galien-usa-nominees-for-best-digital-health-solution-best-medical-technology-incubators-accelerators-and-equity-and-best-startup-302220657.html.

About the Galien Foundation

The Galien Foundation fosters, recognizes and rewards excellence in scientific innovation to improve the state of human health. Our vision is to be the catalyst for the development of the next generation of innovative treatments and technologies that will impact the state of medical practice and save lives.

The Foundation oversees and directs activities in the US for the Prix Galien, an international awards program dedicated to progress through innovative medicines development, with chapters in 14 countries and Africa. The Prix Galien was created in 1970 by Roland Mehl in honor of Galien, the father of medical science and modern pharmacology. Worldwide, the Prix Galien is regarded as the equivalent of the Nobel Prize in biopharmaceutical research.

About Butterfly Network

Founded by Dr. Jonathan Rothberg in 2011, Butterfly Network is a digital health company with a mission to democratize medical imaging by 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. Butterfly created the world's first handheld single-probe, whole-body ultrasound system using semiconductor technology, Butterfly iQ. The company has continued to innovate, leveraging the benefits of Moore’s Law, to launch its second-generation Butterfly iQ+ in 2020, and third generation iQ3 in 2024 – each with increased processing power and performance enhancements. The disruptive technology has been recognized by TIME’s Best Inventions, Fast Company’s World Changing Ideas, CNBC Disruptor 50, and MedTech Breakthrough Awards, among other accolades. With its proprietary Ultrasound-on-Chip™ technology, intelligent software, and educational offerings, Butterfly is paving the way to mass adoption of ultrasound for earlier detection and remote management of health conditions around the world. Butterfly devices are commercially available to trained healthcare practitioners in areas including, but not limited to, parts of Africa, Asia, Australia, Europe, the Middle East, North America and South America; to learn more about available countries, visit: www.butterflynetwork.com/choose-your-country.

Butterfly Network's Chief Executive Officer, Joseph DeVivo; Co-Founder & VP of Core Technology, Nevada Sanchez; and Chief Strategy Officer, Darius Shahida, accept the Prix Galien USA Best Medical Technology Award. (Photo: Business Wire)

PRAGUE (AP) — European nations boosted their defenses in response to the annexation of the Crimea Peninsula in 2014 and Russia’s full-scale invasion of Ukraine in 2022, a London-based think tank said Friday, but much remains to be done for them to be ready to face threats from Russia.

That’s the conclusion of a report released by the International Institute for Strategic Studies released as it opened a three-day gathering in the Czech capital to discuss European and transatlantic military capabilities.

“NATO has not just significantly increased its ambitions regarding its deterrence and war-fighting posture, but European members have sought to address critical capability and readiness shortfalls,” the report said.

“Unsurprisingly, however, after decades of neglect and underinvestment, much remains to be done and progress has been mixed."

It was released as European leaders, including NATO Secretary-General Mark Rutte, were reassessing their trans-Atlantic relations in Budapest, Hungary in the hope that Donald Trump’s second U.S. presidency will avoid the strife of his first administration and maintain a strong common stance on Russia.

Ben Schreer, executive director, IISS-Europe, said that European defense is “at the most critical time” now. “The U.S. election will add even more pressure on European nations to invest more in their own defenses but at the same time considering how to continue to help Ukraine win this war.”

During his election campaign, Trump threatened actions that could have groundbreaking consequences for nations across Europe, from a trade war with the EU to a withdrawal of NATO commitments and a fundamental shift of support for Ukraine in its war with Russia.

During his first 2017-2021 term, Trump pushed NATO's European members to spend more on defense, up to and beyond 2% of gross domestic product, and to be less reliant on U.S. military cover.

In that respect, some progress has been made, with 2024 defense spending by NATO’s European members states 50% higher than it was 10 years ago, the report said.

But problems remain, the IISS said, naming a lack of stability in public financing that “ultimately limits (the defense) industry’s ability to invest with confidence.”

Moreover, “regulatory hurdles and application of environmental, social and governance standards will continue to act as barriers to investment,” it said.

Europe’s defense industry managed to increase output of some products after 2022, especially those with high demand from Ukraine, such as air defense and artillery. But European countries also donated their own weapons to Ukraine, including F-16 fighter jets, and “remain dependent on the U.S. for some important aspects of their military capability,” looking also to Brazil, Israel and South Korea to meet their needs due to a lack of their production capacity.

Competition with civilian industries for raw materials and skilled professionals makes things harder for the defense industry, the report said.

It also warned that many European armies don’t have enough military personnel. A lesson learned from Russia’s war against Ukraine is “that countries need significant troops to engage with and defeat enemy attack, but also enough forces to regenerate after combat attrition."

By that standard, “key European armed forces remain under-strength.”

Europeans have a long way to go to renovate their defense capabilities, the report said.

“Forces, budgets and defense-industrial capacities were reduced because of political decisions by governments. These same governments now need to rediscover the ‘muscle memory’ of defense and security, ensuring sustained policy attention and investment to meet the new strategic realities in Europe.”

FILE - In this photo provided by Ukraine's 24th Mechanised Brigade press service, servicemen of the 24th Mechanised Brigade install anti-tank landmines and non explosive obstacles along the front line near Chasiv Yar town in Donetsk region, Ukraine, Wednesday Oct. 30, 2024. (Oleg Petrasiuk/Ukrainian 24th Mechanised Brigade via AP, File)

FILE - A Ukrainian serviceman of the Bugskiy Gard unit prepares a 120mm mortar before firing towards Russian positions on the front line, in the Kherson region, Ukraine, Sunday, Nov. 3, 2024. (AP Photo/Marko Ivkov, File)

FILE - A serviceman of the 13th Brigade of the National Guard of Ukraine fires Giatsint-B gun towards Russian positions near Kharkiv, Ukraine, Wednesday, Nov. 6, 2024. (AP Photo/Efrem Lukatsky, File)