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ONWARD mitigating global supply chain challenges

The medtech reveals its strong cash position is helping it to remain on track with its pioneering spinal cord stimulation therapies

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Pioneering medtech business ONWARD has revealed it is managing to mitigate the global supply chain challenges, enabling it to remain on course for commercialisation of its groundbreaking spinal cord stimulation therapy. 

Worldwide microprocessor shortages and the scarcity of other components are expected to impact development timing for both of the company’s technology platforms – the ARC EX and ARC IM – but with minimised impact, which the business credits as being due to its strong cash position. 

The ARC EX is now expected to be ready for commercialisation in late 2023, with the ARC IM set to be commercialised in late 2025. 

The technology, developed to enable people living with spinal cord injury to regain independence, movement and improved health, has shown its life-changing impact through recent and ongoing trials. 

Its STIMO-BRIDGE trial, using the ARC IM for the first time in humans, saw three participants regaining the ability to take steps the day after the epidural electronic stimulation (EES), and after five months of rehabilitation, were also able to stand, walk, run and swim. 

The ongoing Up-LIFT trial of its ARC EX platform, which completed its enrolment of 65 participants despite the many challenges presented by COVID, is already delivering positive indications. 

But now, despite the potentially significant delays affecting other businesses, ONWARD said its current cash balance could fuel operations to the end of 2024, enabling its development can continue to progress.

“Many companies and industries have been affected by supply chain challenges,” says Dave Marver, CEO of ONWARD. 

“To limit our downside, we have worked with determination to source critical components and assure continuity of supply in order to fulfil our mission to help people with spinal cord injury live better lives. 

“We have a strong balance sheet, with cash to propel operations through the end of 2024, and we will look for opportunities to further strengthen our cash position as equity capital markets improve in the US and across the globe.”

ONWARD’s work builds on more than a decade of science and preclinical research conducted at the world’s leading neuroscience laboratories. 

ONWARD’s ARC Therapy suite, which can be delivered by implantable – ARC IM – or the external ARC EX systems, is designed to deliver targeted, programmed stimulation of the spinal cord to restore movement and other functions in people with spinal cord injury, ultimately improving their quality of life. 

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