Wearable Devices Expands its International IP Portfolio with Filed Patent Application for Neural Wrist Technology in South Korea
26 Septembre 2024 - 10:03PM
Wearable Devices Ltd. (the “Company” or “Wearable Devices”)
(Nasdaq: WLDS, WLDSW), a technology growth company specializing in
artificial intelligence (“AI")-powered touchless sensing wearables,
announces the filing of an application for its first patent in a
patent family titled Gesture and Voice-controlled interface
device," with the Korean intellectual property office (KIPO).
The patent application is part of the Company’s intellectual
property (“IP”) strategy to broaden the protection of its core IP
globally using patent families that cover multiple future
applications of wearable bio-potential sensors and allows the
Company to adapt its patent portfolio in real time to future
changes in global markets.
The filed patent application protects the Company’s
revolutionary neural interface technology, which is used as a
wearable scale for measuring the weight of objects held by a user,
and as a wearable torque meter for measuring the torque applied by
a user when fastening rotating objects such as screws.
“We are broadening our patent portfolio both in its depth and
its reach,” said Guy Wagner, Chief Scientist Officer of Wearable
Devices. “Expanding our patent reach to South Korea is essential
not only for securing access to one of the world’s most
technologically advanced and dynamic markets, but also for
fostering collaborations with global industry leaders. Neural wrist
interfaces have amazing practical applications that go beyond mere
gesture control and can impact not only how we interact with
technology, but also how we engage with everything around us.
Neural scaling is just the first example.”
About Wearable Devices Ltd.Wearable Devices
Ltd. is a growth company developing AI-based neural input interface
technology for the B2C and B2B markets. The Company’s flagship
product, the Mudra Band for Apple Watch, integrates innovative
AI-based technology and algorithms into a functional, stylish
wristband that utilizes proprietary sensors to identify subtle
finger and wrist movements allowing the user to “touchlessly”
interact with connected devices. The Company also markets a B2B
product, which utilizes the same technology and functions as the
Mudra Band and is available to businesses on a licensing basis.
Wearable Devices Is committed to creating disruptive, industry
leading technology that leverages AI and proprietary algorithms,
software, and hardware to set the input standard for the Extended
Reality, one of the most rapidly expanding landscapes in the tech
industry. The Company’s ordinary shares and warrants trade on the
Nasdaq market under the symbols “WLDS” and “WLDSW”,
respectively.
Forward-Looking Statement DisclaimerThis press
release contains “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended, that are
intended to be covered by the “safe harbor” created by those
sections. Forward-looking statements, which are based on certain
assumptions and describe our future plans, strategies and
expectations, can generally be identified by the use of
forward-looking terms such as “believe,” “expect,” “may,” “should,”
“could,” “seek,” “intend,” “plan,” “goal,” “estimate,” “anticipate”
or other comparable terms. For example, we are using
forward-looking statements when we discuss the potential to obtain
patent protection in South Korea or other jurisdictions and to
broaden our patent portfolio, as well as the potential benefits of
our solutions. All statements other than statements of historical
facts included in this press release regarding our strategies,
prospects, financial condition, operations, costs, plans and
objectives are forward-looking statements. Forward-looking
statements are neither historical facts nor assurances of future
performance. Instead, they are based only on our current beliefs,
expectations and assumptions regarding the future of our business,
future plans and strategies, projections, anticipated events and
trends, the economy and other future conditions. Because
forward-looking statements relate to the future, they are subject
to inherent uncertainties, risks and changes in circumstances that
are difficult to predict and many of which are outside of our
control. Our actual results and financial condition may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
and financial condition to differ materially from those indicated
in the forward-looking statements include, among others, the
following: the trading of our ordinary shares or warrants and the
development of a liquid trading market; our ability to successfully
market our products and services; the acceptance of our products
and services by customers; our continued ability to pay operating
costs and ability to meet demand for our products and services; the
amount and nature of competition from other security and telecom
products and services; the effects of changes in the cybersecurity
and telecom markets; our ability to successfully develop new
products and services; our success establishing and maintaining
collaborative, strategic alliance agreements, licensing and
supplier arrangements; our ability to comply with applicable
regulations; and the other risks and uncertainties described in our
annual report on Form 20-F for the year ended December 31, 2023,
filed on March 15, 2024 and our other filings with the SEC. We
undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments
or otherwise.
Investor Relations Contact
Walter FrankIMS Investor
Relations203.972.9200wearabledevices@imsinvestorrelations.com
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