"ONWARD Medical has raised €40.6 million in gross proceeds through an accelerated bookbuild private placement with institutional investors, announced on 16 April 2026. The transaction was anchored by a €25 million investment from EQT Life Sciences, with additional participation from long-only and sector-specialist investors."
"The company is allocating the proceeds across four uses: 40% toward development of the investigational ARC-IM implantable system, 30% toward expanding sales of the ARC-EX system, 20% toward quality and administrative functions, and 10% toward working capital and servicing existing debt."
"The ARC-EX System, an external, non-invasive spinal cord stimulation therapy, is already commercially cleared in the United States and Europe. It delivers electrical stimulation to the spinal cord through surface electrodes."
ONWARD Medical, based in Eindhoven, raised €40.6 million through a private placement to fund its Empower BP trial for the ARC-IM implantable system. The company will allocate 40% of the funds for ARC-IM development, 30% for expanding ARC-EX sales, 20% for quality and administrative functions, and 10% for working capital. The ARC-EX system is already commercially cleared in the US and Europe. The funding extends the company's cash runway to Q1 2028, assuming no debt facility drawdown.
Read at TNW | Health-Tech
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