ONWARD Medical Initiates €40 Million Capital Increase with Ottobock's Involvement

ONWARD Medical has announced a capital increase targeting around €40 million through a private placement. This includes a €22.5 million cornerstone investment by Ottobock SE & Co. KGaA, a leader in prosthetics and mobility solutions. Ottobock's investment signals its commitment to a strategic partnership with ONWARD, a company focused on spinal cord injury therapies.

The funds will support ONWARD's research and development, commercial activities, and operational growth. Specifically, investments will advance the ARC-EX System for improved hand and arm function and explore other therapeutic applications. The capital will also aid in the commercial launch of new products in the U.S. market, developing customer support capabilities, and advancing clinical studies.

Euronext has temporarily suspended trading of ONWARD shares to facilitate broader investor participation. The bookbuild process is set to conclude shortly, with shares expected to resume trading post-announcement. UBS, Bryan Garnier, and Bank Degroof Petercam are acting as joint coordinators for this transaction.