ONWARD raises over €50m to advance spinal cord therapies
ONWARD Medical has raised €50.85m to advance spinal cord stimulation technologies and expand commercialisation of its movement restoration systems.
The funding comes from a private placement of 11.3 million new shares at €4.50 per share, extending the company’s cash runway through at least the end of 2026.
The Netherlands-based neurotechnology company, which also operates a Science and Engineering Centre in Lausanne, develops ARC Therapy systems that deliver targeted electrical stimulation to the spinal cord.
These systems aim to restore movement, function and independence for people living with spinal cord injuries and other movement disabilities.
The devices use electrical pulses to stimulate specific areas of the spinal cord, bypassing damaged regions to help restore communication between the brain and body.
ONWARD produces both implantable systems and non-invasive external devices.
Chief executive officer Dave Marver said: “We plan to use this capital to expand ARC-EX commercial activities while advancing our pipeline with the planned initiation of our pivotal study for the implantable ARC-IM system.
“This transaction provides fuel for our mission to deliver therapies that restore movement, function, and independence after a spinal cord injury.”
Following FDA authorisation of its ARC-EX system in early 2025, ONWARD has transitioned into a commercial-stage company, preparing for the device’s rollout across the US and Europe.
The company is also advancing its ARC-IM implantable system, which can be paired with a brain-computer interface that converts brain signals into commands to control movement or activate paralysed muscles.
The transaction was led by Ottobock, joined by healthcare investor Invus and the ASR Global Impact Equity Fund, alongside other long-term backers.
ONWARD said 40 per cent of the funding will go to ARC-IM development, 30 per cent to commercialising ARC-EX, and the remainder to operational growth and general purposes.
