ONWARD Medical raises over EUR 40 million in capital increase

17.04.2026 10:04, Rita Longobardi

ONWARD Medical has secured EUR 40.6 million in gross proceeds through an accelerated bookbuild offering, carried out as a private placement with institutional investors. The transaction includes a EUR 25.0 million investment from EQT Life Sciences. Following the raise, the company expects its cash runway to extend into the first quarter of 2028.

ONWARD Medical, a Venture Kick, Venture Leaders, and Top100 Swiss Startups alumnus, develops neurotechnology therapies aimed at restoring movement and autonomy in individuals living with spinal cord injuries and other movement impairments. Its ARC-EX System, a non-invasive platform, has received clearance for commercial use in both the United States and Europe, marking a step in its market rollout.

Alongside its commercial activities, the company is advancing its investigational ARC-IM System, an implantable technology designed to address unmet medical needs, including blood pressure instability following spinal cord injury. The system is also being explored in combination with brain-computer interface technologies and artificial intelligence, with the objective of enabling thought-driven movement.

The proceeds from the capital increase, combined with existing cash reserves, are expected to support several operational priorities. A portion will be allocated to development initiatives, including product development, clinical studies, and regulatory work related to the ARC-IM System. Additional funds will be directed toward expanding commercial activities for the ARC-EX System across the United States, Europe, and selected international markets. The company also plans to invest in quality and administrative functions, while maintaining resources for general corporate purposes and existing financial obligations.

With this financing, ONWARD Medical plans to advance its clinical pipeline and expand its commercial activities over the coming years.