ŌURA and Circular Sign Multi-year Patent License Agreement
25 June 2024 - 5:14PM
Business Wire
ŌURA to receive payments from Circular on an
ongoing basis
ŌURA, the leader in smart ring technology, and Circular today
announced that the companies entered into a settlement agreement to
resolve ongoing patent litigations between the parties in the U.S.
District Court for the Western District of Texas and the
International Trade Commission. ŌURA has granted Circular a
multi-year license to continue selling Circular smart rings and
associated app, subject to royalty payments. The terms of the
agreement are confidential between the parties.
“Innovation is core to our culture and long-term strategy,” said
Tom Hale, chief executive officer of ŌURA. “The licensing agreement
with Circular validates the strength of ŌURA’s patents and is only
possible because of the significant investment ŌURA has made in
research and development. This agreement is a meaningful outcome
for our investors, as well as our scientists, developers, and
product teams, and all of those at ŌURA who innovate every day to
ensure that Oura Ring provides accurate, actionable insights for
our Members.”
“ŌURA revolutionized wearable technology over ten years ago with
the introduction of Oura Ring,” said Amaury Kosman, co-founder and
chief executive officer of Circular. “We recognize the strength and
utility of the fundamental patents that have been awarded to ŌURA,
and this agreement rightfully compensates them for their pioneering
innovation in smart rings.”
In exchange for a licensing agreement, ŌURA has agreed to
dismiss its claims against Circular for infringing upon several of
its patents related to the Oura Ring form factor and the Readiness
Score—ŌURA’s proprietary, data-driven mechanism to provide members
with insight into the impact of physical and mental stressors on
their overall health.
About ŌURA:
ŌURA is the company behind Oura Ring—the smart ring that
delivers personalized health data, insights, and daily guidance.
With sleep as its foundation, Oura Membership fosters healthy
habits to make wellness and recovery a mindful, daily practice.
Validated against medical gold standards and driven by continuous
monitoring of individual biometrics, the lightweight and
comfortable Oura Ring is one of the most accurate wearables
available. For organizations, Oura For Business connects individual
well-being with collective outcomes by making performance
measurable, actionable, and attainable. Founded in Finland with
offices in Oulu, Helsinki, San Francisco, and San Diego, ŌURA has
raised more than $350 million and is valued at $2.55 billion. For
more information, please visit http://ouraring.com/.
Oura Ring is not a medical device and is not intended to
diagnose, treat, cure, monitor, or prevent medical
conditions/illnesses.
About Circular:
Founded in 2019, Circular is a high-tech company dedicated to
pushing the boundaries of wearable technology. Circular specializes
in developing a cutting-edge, multi-feature smart ring designed to
enhance both physical and mental performance for its users.
Circular’s driving vision is to craft the ultimate wearable
experience, aiming to provide the ultimate accessory that innovates
and seamlessly integrates into the way people sleep, live, and
work. Circular is a privately held company based in France. For
more information, visit: https://www.circular.xyz/.
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version on businesswire.com: https://www.businesswire.com/news/home/20240625430381/en/
Press Contact: Ali Deasy, ŌURA alison.deasy@ouraring.com
press@ouraring.com