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IMAP is pleased to announce that Degroof Petercam (IMAP Belgium) acted as Joint Global Coordinator in the up to €87 million Initial Public Offering of Onward on Euronext Brussels and Euronext Amsterdam.

Onward is a medical technology company, developing and commercializing innovative therapies to enable functional recovery for people with spinal cord injury (“SCI”). The company’s innovative technology platform is based on ARCTM Therapy, a targeted, programmed electrical stimulation of the spinal cord to restore movement and other functions in people with SCI’s to ultimately improve their quality of life.

On 21 October 2021, Onward began trading on Euronext Brussels and Euronext Amsterdam after successfully closing the offering of up to €87 million. The offering was priced on 20 October 2021 and the price per share was set at €12.75, corresponding to the middle of the pricing range and a pre-money valuation of €380 million. The proceeds of the transaction will be primarily used to fund product development and R&D activities, to conduct clinical trials in the US and Europe and to build the company’s commercial capabilities to market its existing therapies.

The Degroof Petercam (IMAP Belgium) team, led by Olivier De Vos and Erik de Clippel, acted as Joint Global Coordinator for Onward. This deal further demonstrates Degroof Petercam’s expertise in both the Healthcare industry and in Equity Capital Markets, with the books already largely oversubscribed following the first bookbuilding day.