ONWARD Medical Secures Over EUR 50 Million in Capital Increase

ONWARD Medical N.V., a neurotechnology company focused on restoring movement in spinal cord injury patients, successfully raised EUR 50.85 million through an accelerated bookbuild offering. This transaction, supported by interest from both existing and new investors, included contributions from companies like Ottobock and Invus.

The funds will advance ONWARD's ARC-EX commercial activities and support pivotal studies for its implantable ARC-IM System, aimed at treating blood pressure instability in spinal cord injury patients. ONWARD's cash runway is extended to the end of 2026.

Shares issued were priced at EUR 4.50 each and will be listed on Euronext markets shortly, ensuring liquidity and equal rights with existing shares. The offering was coordinated by UBS and other financial institutions acting as joint bookrunners.