on ONWARD MEDICAL NV (isin : NL0015000HT4)
ONWARD Medical Raises EUR 50 Million with Strategic Investment from Ottobock
ONWARD Medical N.V., a company focused on spinal cord stimulation therapies, has successfully raised EUR 50 million through an upsized capital increase. This move was made possible by strong demand from high-quality institutional investors, including a significant investment from Ottobock SE & Co. KGaA, a leader in prosthetics and orthotics technology.
The capital raised will support ONWARD Medical's development and commercialization activities for at least two years, including the anticipated U.S. launch of its ARC-EX System. The investment marks the beginning of a strategic partnership with Ottobock, which now owns approximately 10% of ONWARD's share capital.
The funds will be allocated towards research, development, U.S. commercialization, quality and operations enhancement, and potential strategic opportunities. The new shares are set to be listed on Euronext and are expected to begin trading on October 28, 2024.
R. P.
Copyright © 2024 FinanzWire, all reproduction and representation rights reserved.
Disclaimer: although drawn from the best sources, the information and analyzes disseminated by FinanzWire are provided for informational purposes only and in no way constitute an incentive to take a position on the financial markets.
Click here to consult the press release on which this article is based
See all ONWARD MEDICAL NV news