Nature Medicine Publication Highlights Potential for ONWARD® ARC Therapy™ to Improve Mobility After Parkinson’s Disease

Nature Medicine Publication Highlights Potential for ONWARD® ARC Therapy™ to Improve Mobility After Parkinson’s Disease

Therapy to be supported by newly awarded $1M grant from Michael J. Fox Foundation

EINDHOVEN, the Netherlands — November 06, 2023 — ONWARD Medical N.V. (Euronext: ONWD), the medical technology company creating innovative spinal cord stimulation therapies to restore movement, function, and independence in people with spinal cord injury (SCI), today announces a publication in Nature Medicine using investigational ONWARD ARC Therapy to address gait challenges related to Parkinson’s disease.

The study participant described in the Nature Medicine publication has been living with Parkinson’s disease for nearly three decades. He has a severe gait disorder that has not responded to conventional therapies.

“I could hardly walk without frequent falls, several times a day. In certain situations, like getting into an elevator, I would stomp, freeze as they say,” said the study participant in a press release issued by Switzerland’s Lausanne University Hospital (CHUV).

In 2021, researchers from the Swiss Federal Institute of Technology (EPFL) and CHUV investigated the possibility that ONWARD ARC Therapy (precise, targeted electrical stimulation of the spinal cord) could address common side effects of Parkinson’s disease that negatively impact mobility. The team collaborated with Dr. Erwan Bezard, a renowned neuroscientist from France’s National Institute of Health and Medical Research (INSERM).

After the introduction of ARC Therapy and benefitting from a few weeks of rehabilitation, the study participant was able to walk without previously noticeable gait interruptions. Today, he uses ARC Therapy eight hours per day.

“I turn on the stimulation in the morning and turn it off in the evening. It allows me to walk better, to stabilize myself. Even stairs don’t scare me anymore. Every Sunday I go to the lake, and I walk about six kilometers. It’s awesome,” said the participant in the CHUV release.

“The breakthrough reported in Nature Medicine shows the remarkable potential to use the same technology platform and therapy we are developing for spinal cord injury to also address mobilitychallenges stemming from Parkinson’s disease,” says Dave Marver, CEO of ONWARD.

“It is impressive to see that by electrically stimulating the spinal cord the same way we have done in paraplegic patients, we may be able to address gait disorders due to Parkinson’s disease,” adds neurosurgeon Jocelyne Bloch, co-director with Professor G. Courtine of ONWARD research partner .NeuroRestore.

.NeuroRestore was awarded a $1 million grant from The Michael J. Fox Foundation for Parkinson’s Research (MJFF) to implant the ARC-IM System and investigate the effect of ARC Therapy in six additional participants with Parkinson’s disease. This study will assist ONWARD in determining whether to conduct additional clinical trials and potentially commercialize ARC Therapy in the future for those living with Parkinson’s disease.

“MJFF is committed to fulfilling the unmet needs of people living with Parkinson’s disease by ensuring the development of improved therapies,” said Katharina Klapper, Director of Clinical Research, MJFF. “The Foundation is pleased to award a grant for scientists at EPFL and ONWARD Medical to investigate the effects of ARC Therapy in people with experiencing gait challenges.”

All ONWARD devices and therapies, including but not limited to ARC-IM, ARC-EX, and ARC Therapy, are investigational and not available for commercial use.

Note: ONWARD has previously disclosed achievement of human proof-of-concept for Parkinson’s disease in its Company Presentation.

About ONWARD Medical
ONWARD is a medical technology company creating therapies to restore movement, function, and independence in people with spinal cord injury (SCI) and movement disabilities. Building on more than a decade of science and preclinical research conducted at leading neuroscience laboratories, the Company has received nine Breakthrough Device Designations from the US Food and Drug Administration for its ARC Therapy™ platform.

ONWARD® ARC Therapy, which can be delivered by external ARC-EX™ or implantable ARCIM™ systems, is designed to deliver targeted, programmed spinal cord stimulation. Positive results were presented in 2023 from the Company’s pivotal study, called Up-LIFT, evaluating the ability for transcutaneous ARC Therapy to improve upper extremity strength and function. The Company is now preparing regulatory approval submissions for ARC-EX for the US and Europe. In parallel, the Company is conducting studies with its implantable ARC-IM platform, which demonstrated positive interim clinical outcomes for improved blood pressure regulation, a component of hemodynamic stability following SCI. Other ongoing studies include combination use of ARC-IM with a brain-computer interface (BCI).

Headquartered in Eindhoven, the Netherlands, ONWARD has a Science and Engineering Center in Lausanne, Switzerland and a US office in Boston, Massachusetts. The Company also has an academic partnership with .NeuroRestore, a collaboration between the Swiss Federal Institute of Technology (EPFL), and Lausanne University Hospital (CHUV).

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Certain statements, beliefs, and opinions in this press release are forward-looking, which reflect the Company’s or, as appropriate, the Company directors’ current expectations and projections about future events. By their nature, forward-looking statements involve several risks, uncertainties, and assumptions
that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties, and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, competition, and technology, can cause actual events, performance, or results to differ significantly from any anticipated development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or any change in events, conditions, assumptions, or circumstances on which these forward-looking statements are based. Neither the Company nor its advisers or representatives nor any of its subsidiary undertakings or any such person’s officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the forecasted developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release. All ONWARD devices and therapies referenced here, including but not limited to ARC-IM, ARC-EX, and ARC Therapy, are investigational and not available for commercial use.

Wellington Partners promotes Johannes Fischer and Varun Gupta to Partner

Wellington Partners promotes Johannes Fischer and Varun Gupta to Partner

November 06, 2023

Munich, Germany – Wellington Partners, a leading European venture capital firm investing in early- and growth-stage life science companies, today announced the promotion of Dr. Johannes Fischer and Dr. Varun Gupta to Partner, effective immediately.

Johannes joined Wellington in 2020 supporting the firm’s existing medical device and digital health portfolio. For the past years, he has been the driving force behind Wellington’s renewed strategy in digital health and increasing activity in the cross-sections of traditional healthcare and medical research. He has been instrumental to the investments and ongoing management of several portfolio companies including Sidekick Health, aignostics, MMI and nyra health. Johannes began his professional career as consultant at the life sciences practice of L.E.K. Consulting, where he managed and executed numerous market access, performance enhancement and M&A projects for life science companies. He holds an MSc in Biochemistry, a PhD in Biotechnology and a Medical Doctorate from Technical University, Munich.

Varun has been an integral part of Wellington’s investment team since 2018. He has taken a leading role in defining the firm’s early-stage investment strategy in biotech and has spearheaded the active deal sourcing in the DACH region. Over the past few years, Varun has led the investments in and supported several biopharma portfolio companies, including Dunad Therapeutics, Seamless Therapeutics, Confo Therapeutics, STipe Therapeutics and MinervaX. Prior to joining Wellington, Varun interned at Ysios Capital in Barcelona and assisted the investment team at Forbion in Amsterdam/Naarden. He was awarded a PhD with summa cum laude in Neuroscience from the Free University of Berlin and holds an MBA from IESE Business School in Barcelona.

Regina Hodits, Managing Partner of Wellington Partners, commented: “We are grateful for Johannes and Varun’s significant contribution during the past years. Their efforts have been critical in expanding our investment activities to new areas like targeted protein degradation and digital care and rehabilitation, which we believe will significantly impact patients’ lives in the future. Their profiles have proven to perfectly complement the investment efforts at Wellington Partners.”

Rainer Strohmenger, Managing Partner of Wellington Partners, commented: “Since joining Wellington, Johannes and Varun have rapidly developed to become valuable members of our Life Sciences focused team and internationally recognized investment professionals in our industry. We congratulate them on the well-deserved promotion to Partner.”

“We are confident of their significant abilities to identify highly potent and differentiated life science companies and their capabilities to develop these into profitable exits for the investing funds”, added Karl Naegler, Managing Partner of Wellington Partners.

About Wellington Partners

Wellington Partners is a leading European venture capital firm investing in the most promising early- and growth stage life science companies in the fields of biotechnology, therapeutics, medical technology, diagnostics and digital health. With funds totalling more than €1.2 billion, thereof €590 million committed to life sciences, Wellington Partners has been actively supporting world class private companies translating true innovation into successful businesses with exceptional growth. To date, Wellington Partners has invested in 58 innovative life science companies, including 4SC (FSE: VSC), Actelion (acquired by J&J), Carisma Therapeutics (NASDAQ: CARM), Definiens (acquired by AZ), immatics (Nasdaq: IMTX), invendo (acquired by Ambu), MTM Laboratories (acquired by Roche/Ventana), Onward Medical (Euronext: ONWD), Oxford Immunotec (acquired by PerkinElmer), Rigontec (acquired by MSD), Symetis (acquired by Boston Scientific), and Themis (acquired by MSD).

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Contact details

Wellington Partners
Dr. Regina Hodits, Managing Partner
Dr. Rainer Strohmenger, Managing Partner
Dr. Karl Naegler, Managing Partner
Dr. Johannes Fischer, Partner
Dr. Varun Gupta, Partner

Via Karina Schuster

+49 (0) 89 219941-20

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