Contura Vet and Butterfly Network to form Strategic Alliance to Focus on Diagnosis and Treatment of Osteoarthritis in Horses

May 2, 2023

New alliance aims to advance the understanding of osteoarthritis by providing advanced solutions for diagnostic imaging and treatment via Butterfly iQ+ Vet handheld imaging systems and Contura Vet’s ArthramidVet® .

BURLINGTON, MA, and FRANKLIN, TN May 2, 2023 -– Butterfly Network, Inc. (NYSE: BFLY), a digital health company transforming care with handheld, whole-body ultrasound, and Contura Vet USA, the veterinary subsidiary of Contura International LTD, today announced a strategic alliance to advance the education, diagnosis, and treatment of osteoarthritis in horses. ArthramidVet®, an injectable 2.5% polyacrylamide hydrogel (iPAAG) used in the management of non-infectious joint lameness in animals including early and late stages of osteoarthritis, will come together with Butterfly iQ+ Vet, the world’s only single probe, whole-body multi-species imaging system, to provide a solutions based, educational opportunity.

Butterfly iQ+ Vet is designed to bring valuable clinical insights to veterinarians at the point-of-care through innovative ultrasound technology, made simple with artificial intelligence. ArthramidVet, is a novel iPAAG indicated for the treatment of all stages of equine osteoarthritis. ArthramidVet goes beyond conventional therapies, using a dynamic bio-scaffold technology to safely and sustainably manage osteoarthritis by integrating directly into the synovial membrane. Together, Butterfly iQ+ Vet and ArthramidVet bring an innovative technology and solution to a disease that impacts lameness in 60% of the equine population.¹

“Osteoarthritis is a progressive and degenerative disease that can go undiagnosed, especially in the early stages. With Butterfly iQ+ Vet, visualization of disease can aid successful diagnosis by offering greater insight and allowing practitioners to make more informed, better decisions, earlier in care. By coming together with Contura Vet, our goal is that veterinarians become well-equipped and trained to not only detect disease, but rapidly initiate ArthramidVet treatment sooner and more often” said Jenna Mutch, Vice President, Veterinary for Butterfly Network.

The iQ+ Vet is the second-generation of Butterfly’s veterinary ultrasound device, which brings sharper imaging, a new procedural guidance tool, and hardware improvements that make the solution more powerful, versatile, and easy-to-use.* With educational videos available right in the Butterfly app, continuing education toward identifying osteoarthritis and procedural guidance is at the practitioners fingertips.^†

“ArthramidVet is a unique and patented 2.5% iPAAG offering an innovative, biocompatible, safe solution for veterinarians to treat synovitis and osteoarthritis in horses. ArthramidVet, launched over 2 years ago in the U.S., has been used around the world for over 14 years, with over 100,000 horses successfully treated. With decades of research supporting ArthramidVet, veterinarians can feel confident when choosing this novel technology for their patients and their osteoarthritis treatment” said Dr. Megan Green, who heads up Technical Services for Contura Vet USA. “Now we are thrilled to partner with Butterfly, with the goal of making this safe, effective treatment even more accessible to veterinarians and their patients.”

Veterinarians can request more information about Butterfly iQ+ Vet at: https://vet.butterflynetwork.com/.

Veterinarians can request more information about ArthramidVet® at: https://arthramid.com/

*All comparative claims are made relative to first generation iQ Vet product.

^†Tutorials are not a substitute for professional clinician training and experience and may not include all possible patient to patient variation. Veterinarians are solely responsible for patient care and for exercising their independent clinical judgment at all times.

Citations

C. W. McIlwraith, D. D. Frisbie, C. E. Kawcak, The horse as a model of naturally occurring osteoarthritis, Bone Joint Res 2012;1:297–309.

About Contura Vet

For over 20 years, Contura International (parent company of Contura Vet USA) has pioneered the advancement of the polyacrylamide hydrogel technology for both human and veterinary medicine, based at their facility in Denmark. Over 14 years ago, their veterinary division was established in Europe as they developed ArthramidVet®, an injectable 2.5% polyacrylamide hydrogel (iPAAG) for the treatment of osteoarthritis in horses, following the success of their hydrogels for humans. In 2021, Contura Vet established it’s USA division, headquartered in Franklin, TN.

About Butterfly Network

Founded in 2011 by Jonathan Rothberg, Ph.D., 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. Butterfly iQ+ can be purchased today by trained healthcare practitioners in areas including, but not limited to, Africa, Asia, Australia, Europe, North America and South America; to learn more about available countries, visit: butterflynetwork.com/choose-your-country. The Butterfly iQ+ Vet can be purchased online by veterinary practitioners in approved countries at the store or by contacting sales.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations with respect to financial results, future performance, development of products and services, and the size and potential growth of current or future markets for its products and services. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the impact of COVID-19 on the Company’s business, including issues relating to Omicron or other variants; the ability to recognize the anticipated benefits of the business combination; the Company’s ability to grow and manage growth profitably; the success, cost and timing of the Company’s product and service development activities; the potential attributes and benefits of the Company’s products and services; the degree to which our products and services are accepted by healthcare practitioners and patients for their approved uses; the Company’s ability to obtain and maintain regulatory approval for its products, and any related restrictions and limitations of any approved product; the Company’s ability to identify, in-license or acquire additional technology; the Company’s ability to maintain its existing license, manufacture, supply and distribution agreements; manufacturing and supply of the Company’s products; the Company’s ability to compete with other companies currently marketing or engaged in the development of products and services that the Company is currently marketing or developing; changes in applicable laws or regulations; the size and growth potential of the markets for the Company’s products and services, and its ability to serve those markets, either alone or in partnership with others; the pricing of the Company’s products and services and reimbursement for medical procedures conducted using its products and services; the Company’s estimates regarding expenses, revenue, capital requirements and needs for additional financing; the Company’s financial performance; the Company’s ability to raise financing in the future; and other risks and uncertainties indicated from time to time in the Company’s most recent Annual Report on Form 10-K or in subsequent filings that it makes with the Securities and Exchange Commission. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions you not to place undue reliance upon any forward-looking statements, which speak only as of the date of this press release. The Company does not undertake or accept any obligation or undertake to release publicly any updates or revisions to any forward-looking statements to reflect any change in the Company’s expectations or any change in events, conditions or circumstances on which any such statement is based.

Butterfly Network Contacts:

Media

Liz Learned
media@butterflynetinc.com
978-505-2567

Veterinary Business Contact

Jenna Mutch
Vice President, Veterinary
jmutch@butterflynetwork.com
530-400-3638

ConturaVet Contacts:

Michaela Arcaro
Director, US Business Unit
Michaela.arcaro@conturavet.com
970-819-8909