{"id":14190,"date":"2021-04-28T11:20:25","date_gmt":"2021-04-28T09:20:25","guid":{"rendered":"https:\/\/ggba.swiss\/epfl-spin-off-onward-raises-32-million-for-its-spinal-cord-therapies\/"},"modified":"2023-07-04T13:40:15","modified_gmt":"2023-07-04T11:40:15","slug":"epfl-spin-off-onward-raises-32-million-for-its-spinal-cord-therapies","status":"publish","type":"post","link":"https:\/\/ggba.swiss\/en\/epfl-spin-off-onward-raises-32-million-for-its-spinal-cord-therapies\/","title":{"rendered":"EPFL spin-off ONWARD raises $ 32 million for its spinal cord therapies"},"content":{"rendered":"<p>Driven by a mission to restore movement, independence, and health in people with spinal cord injury, EPFL spin-off <a href=\"https:\/\/www.onwd.com\/\" target=\"_blank\" rel=\"noopener\">ONWARD<\/a> developed the ARC Therapy.<\/p>\n<p>The ARC therapy can be delivered by an implantable system called ARC-IM and an external system called ARC-EX. Both platforms are designed to deliver targeted, programmed stimulation of the spinal cord to restore movement, independence, and health in people with spinal cord injury.<\/p>\n<p>ARC-IM and ARC-EX have each been awarded Breakthrough Device Designation by the FDA. ARC-EX is currently undergoing clinical trials in the U.S., Canada, UK, and Western Europe in a pivotal study called\u00a0<a href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fclinicaltrials.gov%2Fct2%2Fshow%2FNCT04697472&amp;esheet=52415764&amp;newsitemid=20210422005099&amp;lan=en-US&amp;anchor=Up-LIFT&amp;index=2&amp;md5=7fa118f0f938dac97b0392d26fb132eb\" target=\"_blank\" rel=\"noopener\">Up-LIFT<\/a>.<\/p>\n<p>To accelerate development and commercialize the two technology platforms, ONWARD has raised $ 32 million in a financing round led by\u00a0<a href=\"https:\/\/www.invest-nl.nl\/\" target=\"_blank\" rel=\"noopener\">Invest-NL<\/a>, the Dutch impact investor and\u00a0<a href=\"https:\/\/www.olympicinvestment.com\/\" target=\"_blank\" rel=\"noopener\">Olympic Investments<\/a>, the private investment arm of the Onassis Foundation.<\/p>\n<p>Several additional new investors including\u00a0<a href=\"https:\/\/www.verve.vc\/\" target=\"_blank\" rel=\"noopener\">Verve Ventures<\/a>\u00a0and all of ONWARD\u2019s existing investors also participated in the financing, including leading medical technology investors\u00a0<a href=\"https:\/\/www.lspvc.com\/\" target=\"_blank\" rel=\"noopener\">LSP<\/a>,\u00a0<a href=\"https:\/\/www.inkefcapital.com\/\" target=\"_blank\" rel=\"noopener\">INKEF Capital<\/a>,\u00a0<a href=\"https:\/\/www.gimv.com\/en\" target=\"_blank\" rel=\"noopener\">Gimv<\/a>, and\u00a0<a href=\"https:\/\/www.wellington-partners.com\/\" target=\"_blank\" rel=\"noopener\">Wellington Partners<\/a>.\u00a0<\/p>\n<p>Founded in 2014 with headquarters in the Netherlands and the <a href=\"https:\/\/epfl-innovationpark.ch\/\" target=\"_blank\" rel=\"noopener\">EPFL Innovation Park<\/a> in Lausanne (canton of Vaud), ONWARD Medical (formerly known as GTX Medical) also has a growing U.S. presence in Boston.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ONWARD has raised $ 32 million to further develop and commercialize its ARC therapy stimulating the spinal cord to restore movement.<\/p>\n","protected":false},"author":3,"featured_media":14191,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"mc4wp_mailchimp_campaign":[],"footnotes":""},"categories":[833],"tags":[894,926],"class_list":["post-14190","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-life-science","tag-financing","tag-medtech"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - 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