What's Happening?
ONWARD Medical, a neurotechnology company based in Eindhoven, has raised €40.6 million through a private placement with institutional investors. The funds will primarily support the Empower BP pivotal trial, which tests the ARC-IM® system's ability to treat
blood pressure instability following spinal cord injury. The ARC-IM® is an implantable device designed to deliver precise spinal cord stimulation, potentially improving conditions like orthostatic hypotension and autonomic dysreflexia. The trial, approved by the FDA, is being conducted across multiple international sites, including the U.S. The company also plans to expand the commercial rollout of its ARC-EX® system, an external therapy already cleared in the U.S. and Europe.
Why It's Important?
This funding round is significant as it supports the development of innovative treatments for spinal cord injuries, which can have debilitating effects on patients. The ARC-IM® system's potential to address severe blood pressure conditions could improve the quality of life for many individuals. Additionally, the expansion of the ARC-EX® system's commercial availability could enhance access to non-invasive therapies for improving motor function. The investment also underscores confidence in ONWARD Medical's technology and its potential impact on neurorehabilitation.
What's Next?
The Empower BP trial will continue to recruit participants across various research centers, with the aim of validating the ARC-IM® system's efficacy. Successful trial outcomes could lead to broader regulatory approvals and market adoption. ONWARD Medical's strategic focus on expanding its commercial operations suggests a commitment to making these therapies widely available, potentially influencing future treatment standards for spinal cord injuries.
