ONWARD Medical Raises 40.6 Million Euros from Institutional Investors
ONWARD Medical announced on Monday the closure of its private placement with institutional investors. The new shares from this fundraising are now admitted to trading on Euronext Brussels, Amsterdam, and Paris.
The private placement generated a gross product of 40.6 million euros from institutional investors. The newly issued shares are already listed and tradable on the three Euronext exchanges: Brussels, Amsterdam, and Paris, under the ticker ONWD.
About ONWARD Medical
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ONWARD Medical is a neurotechnology company based in the Netherlands, with a scientific and engineering center in Switzerland and an office in Boston, Massachusetts, USA. The company develops therapies to restore mobility, motor functions, and independence in patients with spinal cord injuries and other movement disorders. It has developed its proprietary ARC Therapy technology and has received ten Breakthrough Device designations from the FDA. Its ARC-EX® system is authorized for marketing in the United States and Europe. ONWARD Medical is also developing an investigational implantable system called ARC-IM®, designed to address unmet medical needs including tension instability after spinal cord injury, and can be combined with a brain-computer interface and artificial intelligence.
“We continued to deliver strong commercial execution in Q3, and we achieved several meaningful scientific and regulatory milestones across our technology platforms.”
Commercial traction forte avec 40 systèmes ARC-EX vendus en Q3 et disponibilité dans plus de 60 cliniques US; CE Mark pour l'UE et clearance FDA pour usage à domicile élargissent l'opportunité commerciale; IDE approuvé pour ARC-IM permettant le lancement de l'étude pivot Empower BP; publications scientifiques majeures renforcent le dossier clinique.
Risks mentioned
retards dans les autorisations réglementaires
variations de la demande commerciale
concurrence technologique et concurrentielle
incertitudes liées aux études cliniques et résultats futurs
Opportunities identified
FDA clearance for home use expands US market opportunity
CE Mark enables commercialization in EU and facilitates entry to UK and Switzerland
IDE approval for ARC-IM enables initiation of Empower BP pivotal study
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Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
