ONWARD Medical has raised €40.6 million in gross proceeds through an accelerated bookbuild private placement with institutional investors. The proceeds will be used to fund the Empower BP pivotal trial, which will determine if the implantable ARC-IM® system can treat blood pressure instability after spinal cord injury. The transaction was anchored by a €25 million investment from EQT Life Sciences and participation from long-only and sector-specialist investors. A total of 13,520,254 new ordinary shares were issued at €3.00 per share. The company's shares trade on Euronext Brussels, Amsterdam, and Paris under the ticker ONWD. ONWARD's cash runway now extends to Q1 2028.