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ONWARD Medical N.V. Obtains Debt Financing of up to €52.5 Million with Runway Growth Capital LLC

Jun 28, 2024•almost 2 years ago

Contract Type

agreement

EindhovenBiotechnologyHealth Care

Description

ONWARD Medical N.V. has signed a loan agreement in the amount of up to €52.5 million with U.S.-based lender Runway Growth Capital LLC. The financing will be used to repay outstanding debt, fund upcoming commercial and clinical activities, and for working capital and general corporate purposes.

Company Information

Company

ONWARD Medical

Location

Eindhoven, North Brabant, Netherlands

About

ONWARD Medical is a medical technology company creating innovative therapies to restore movement, function, and independence in people with spinal cord injuries. ONWARD Medical’s work builds on more than a decade of basic science and preclinical research conducted at the world’s leading neuroscience laboratories. ARC Therapy, which can be delivered by implantable (ARC-IM) or external (ARC-EX) systems, is designed to deliver targeted, programmed spinal cord stimulation to restore movement and other functions in people with spinal cord injury, ultimately improving their quality of life.

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