Eindhoven-based neurotechnology company ONWARD Medical has raised €40.6 million through an accelerated private placement, strengthening its mission to develop therapies that restore movement and independence for people with spinal cord injuries and related disorders.
The funding round involved the issuance of over 13.5 million new shares at €3.00 each, including a €25 million investment from EQT Life Sciences, alongside other institutional investors.
Advancing Neurotechnology For Movement Restoration
Founded in 2015 by neuroscience researchers at École Polytechnique Fédérale de Lausanne (EPFL), ONWARD Medical focuses on developing therapies that target the spinal cord to restore motor function.
At the core of its innovation is ARC Therapy, a proprietary approach using targeted spinal cord stimulation. The technology is delivered through two systems: the implantable ARC-IM® and the external ARC-EX®.
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From Clinical Development To Commercial Adoption
The ARC-EX® system has already received approval for commercial use in both the United States and Europe, marking a significant step toward real-world deployment. Meanwhile, the ARC-IM® platform is being developed to address additional conditions, including blood pressure instability.
The company has also been awarded multiple Breakthrough Device Designations by the U.S. Food and Drug Administration (FDA), highlighting the potential of its therapies to address unmet medical needs.
Expanding Into Brain-Computer Interfaces
Beyond spinal stimulation, ONWARD Medical is exploring next-generation applications that combine brain-computer interfaces with artificial intelligence. These advancements aim to enable thought-driven movement, pushing the boundaries of neurorehabilitation.
Global Presence And Growth Strategy
Headquartered in the Netherlands, with operations in Switzerland and the United States, ONWARD Medical is publicly listed on Euronext and OTC markets.
According to CEO Dave Marver, the new capital will support the company’s transition into a fully commercial-stage organisation while advancing its clinical pipeline:
“We are advancing technologies that can restore movement, function, and independence. The strong backing from leading investors validates both the commercial traction of ARC-EX® and the long-term potential of our implantable ARC-IM® platform.”
About ONWARD Medical
ONWARD Medical is a neurotechnology company focused on restoring mobility and independence for people with spinal cord injuries. Its ARC Therapy platform uses targeted spinal cord stimulation, delivered through implantable and external systems, to improve movement, function, and overall quality of life.
