ONWARD Medical, a pioneering medical technology company headquartered in Eindhoven, has successfully raised €117,240,000 in a recent funding round, marking a significant milestone in its mission to transform the lives of individuals affected by spinal cord injuries. Founded on over a decade of cutting-edge fundamental and preclinical research conducted in some of the world’s most renowned neuroscience laboratories, ONWARD Medical is revolutionizing the field of neural rehabilitation with its innovative ARC Therapy. This groundbreaking approach is available in two forms: ARC-IM, an implantable neurostimulator system, and ARC-EX, a non-invasive external platform featuring a portable stimulator and wireless programmer, both designed to deliver targeted, programmable stimulation to the spinal cord.
The fresh capital will be strategically deployed to further develop and advance these therapies, accelerate ongoing clinical trials, and support regulatory submissions in key markets such as the United States and Europe. The company has already demonstrated promising clinical outcomes, as evidenced by the positive results from its first human intervention with ARC-IM in May 2022 and encouraging data shared from the Up-LIFT study evaluating ARC Therapy’s impact on upper limb strength and function. With nine Breakthrough Device Designations granted by the U.S. FDA for its products, ONWARD Medical continues to lead groundbreaking research and innovation in the field.
Boasting a robust international presence with a cutting-edge scientific and engineering center in Lausanne and an expanding footprint in Boston, Massachusetts, ONWARD Medical is well-positioned for global impact. This funding injection not only underscores investor confidence in its visionary technology but also fuels the company's commitment to improving mobility, functionality, and independence for patients worldwide.
