ONWARD Medical Raises €40.6M To Advance Spinal Cord Injury Therapies

A total of 13,520,254 new shares were issued at €3.00 each, including a €25 million investment from EQT Life Sciences.

Founded in 2015 by neuroscience researchers at EPFL, ONWARD Medical is a neurotechnology company developing therapies to restore movement and independence for people with spinal cord injuries.

Its proprietary ARC Therapy uses targeted spinal cord stimulation and is delivered through implantable (ARC-IM®) and external (ARC-EX®) systems.

The ARC-EX® system is already approved for commercial use in the US and Europe, while ARC-IM® is in development for additional unmet needs such as blood pressure instability.

The company has received multiple FDA Breakthrough Device Designations and is exploring advanced applications combining brain-computer interfaces and AI for thought-driven movement.

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Headquartered in the Netherlands with operations in Switzerland and the US, ONWARD Medical is listed on Euronext and OTC markets.

Dave Marver, CEO of ONWARD Medical, said, “We are pleased to complete this successful transaction, which fuels the pursuit of our mission to develop and commercialise breakthrough technologies that restore movement, function, and independence in people with spinal cord injuries and other movement disabilities.

“The strong support from EQT and other high-quality investors underscores the rapid adoption of the ARC-EX® System and validates our successful transition to a commercial-stage organisation. It also affirms the potential of ARC-IM®, our groundbreaking implantable technology platform that is currently under clinical evaluation in the Empower BP pivotal trial.”

About ONWARD Medical

ONWARD Medical is a medical technology company developing therapies to restore movement, function, and independence for people with spinal cord injuries. Built on over a decade of neuroscience research, its ARC Therapy delivers targeted spinal cord stimulation through implantable or external systems to improve mobility and quality of life.