ONWARD lists on Euronext Brussels and Euronext Amsterdam


  • €86.5 million raised – market capitalisation of €391 million
  • Dual-listing aims to increase exposure to new investors
  • 162nd listing on Euronext this year  

Amsterdam and Brussels – 21 October 2021 – Euronext today congratulates ONWARD Medical NV, a medical technology company developing innovative therapies for people with spinal cord injury (SCI), on its listing on Euronext Brussels and Euronext Amsterdam (ticker code: ONWD). ONWARD joins a franchise of 46 medtech companies listed on Euronext, representing a total market cap of €18.7 billion (as 30 September 2021).

Headquartered in Eindhoven, the Netherlands, with subsidiaries in the United States and Switzerland, where it maintains an office in Lausanne, ONWARD has developed an innovative technology platform based on ONWARD ARC Therapy, targeted programmed electrical stimulation of the spinal cord to restore movement, independence, and health in people with spinal cord injury.

ONWARD was listed through the admission to trading of 29,801,597 shares composing its capital. The admission and issue price of ONWARD’s shares was set at €12.75 per share. Market capitalisation was €380 million (€391.3 million assuming the exercise in full of the Over-Allotment Option) on the day of listing. The offering raised €75.2 million altogether (€86.5 million assuming the exercise in full of the Over-Allotment Option).

This successful IPO is an exciting moment for ONWARD and the many underserved people recovering from spinal cord injury,” said Dave Marver, CEO of ONWARD. “Our team has worked closely with the world’s leading scientists and clinicians to identify and demonstrate the promise of several important breakthrough therapies. We appreciate and welcome the support of our new investors and will work with passion and commitment to build an outstanding and enduring company.

Onward IPO Brussels

Caption: Dave Marver, CEO of ONWARD, rang the bell during a ceremony in Brussels this morning to celebrate the Initial Public Offering of the company.


ONWARD is a medical technology company creating innovative therapies to restore movement, independence, and health in people with spinal cord injury. ONWARD’s work builds on more than a decade of basic science and preclinical research conducted at the world’s leading neuroscience laboratories. ONWARD’s ARC Therapy, which can be delivered by implantable (ARCIM) or external (ARCEX) systems, is designed to deliver targeted, programmed stimulation of the spinal cord to restore movement and other functions in people with spinal cord injury, ultimately improving their quality of life. ONWARD has received three FDA Breakthrough Device Designation awards. The company’s first pivotal trial, called Up-LIFT, commenced in January 2021 with plans to enroll 65 subjects at up to 15 centers worldwide.

ONWARD has been listed on Euronext Brussels and Amsterdam since October 21, 2021. Ticker: ONWD.

ONWARD is headquartered at the High-Tech Campus in Eindhoven, the Netherlands. It maintains an office at the EPFL Innovation Park in Lausanne, Switzerland and has a growing U.S. presence in Boston, Massachusetts, USA. For additional information about the company, please visit ONWD.com.

Press Release Footer

About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With more than 1,900 listed issuers and around €6.5 trillion in market capitalisation as of end June 2023, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
For the latest news, follow us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at www.euronext.com/terms-use.

© 2023, Euronext N.V. - All rights reserved.