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Onward Medical joins the Amsterdam and Brussels Stock Exchanges

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Ahead medical announced its intention to be listed in Amsterdam and Brussels. The company is developing a device that stimulates the spinal cord after injuries. The exact date of the transaction, the price range and the amounts targeted for the IPO are not yet known.

Founded in 2014, Onward Medical is a spin-off of the Neuroprosthesis Center of the renowned Polytechnique de Lausanne. It has a site in the Swiss city and is headquartered in the Netherlands, in Eindhoven. It is also starting to develop in the United States, in Massachusetts.

Onward’s therapy is based on two devices, an implantable (ARC-IM) and an external (ARC-EX), each targeting different levels of spinal cord injury and potentially other disorders, such as Parkinson’s disease. and stroke. The two platforms have not yet received regulatory approval for commercialization, but have each received a “breakthrough device” designation by the FDA, the US health agency.

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The external device is currently being tested in a clinical study that began in January 2021. When the study is successfully completed and the company obtains the approvals, the company plans to market the ARC-EX platform in the United States and Europe. in 2023. ARC – The IM platform could be launched in the United States and Europe in 2024 to restore blood pressure and trunk control.

ARC-IM uses a wireless implant. During surgery, electrodes are implanted in the spinal cord. In one study, three SCI patients whose legs remained poorly functional were once again able to stand and even walk with a body weight support. Another technology developed by ONWARD is called ARC-EX. This device consists of a portable stimulator that uses a high frequency waveform to numb the skin in combination with a low frequency stimulation pulse that targets and sends energy through the spinal cord. This portable device does not require surgery. A first study showed a significant and sustained improvement in the movements of the patient’s arms and hands.

Funding

Last April, the Medtech company raised 26 million euros. This new round of financing was led by Invest-NL, the Dutch impact investment fund, and Olympic Investments, the private equity arm of the Onassis Foundation. Since its inception, the company has raised around 70 million euros. Its shareholders also include the Christopher and Dana Reeve Foundation. The American actor, who had played Superman in the films, died in 2004, after being quadriplegic for ten years following a fall from a horse.

Learn more about ONWARD Medical here

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