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ONWARD Medical Launches Capital Increase for Indicative Amount of c. EUR 40 Million including EUR 22.5 Million Cornerstone Investment from Ottobock SE & Co. KGaA

Oct 22, 2024•over 1 year ago

Contract Type

partnership

EindhovenBiotechnologyHealth Care

Description

ONWARD Medical N.V. has announced the launch of a capital increase for an indicative amount of approximately EUR 40 million, including a cornerstone investment of EUR 22.5 million from Ottobock SE & Co. KGaA. This investment initiates a long-term strategic relationship between ONWARD Medical N.V

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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Strategic partnership established

Partnership agreements typically involve technology integration and joint go-to-market strategies

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Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months