ONWARD, a medical technology company focused on spinal cord therapy, has secured €40.6 million in funding with backing from EQT, a global investment organization. The funding will accelerate the development of innovative therapies aimed at restoring mobility and function for individuals with spinal cord injuries.
Founded in 2014, ONWARD has been at the forefront of neurostimulation technology, leveraging cutting-edge research to create implantable devices that bridge communication gaps in damaged spinal cords. The company’s ARC Therapy platform has shown promising results in clinical trials, offering hope to millions worldwide.
Analysts suggest this investment reflects growing confidence in neurotechnology’s potential to address previously untreatable conditions. ‘The spinal cord injury market represents a significant unmet need,’ said one industry expert, speaking on condition of anonymity due to confidentiality agreements. ‘ONWARD’s approach could revolutionize rehabilitation paradigms.’
Looking ahead, ONWARD plans to use the funds to expand clinical trials and seek regulatory approvals in key markets. The company’s CEO emphasized their commitment to delivering ‘life-changing solutions’ within the next five years.