🛎️ We are delighted to share that we have raised EUR 50 million in new funding, led by a cornerstone investment from Ottobock, a global leader in prosthetics, orthotics, and exoskeleton technology with 9,000 employees and operations in almost 60 countries.
Here are the headlines:
⭐️ This investment initiates a long-term strategic relationship with Ottobock, which has more than 100 years of experience serving people with movement disabilities.
⭐️ This financing extends our cash runway to two years or more, providing ample capital to fuel our transition to a commercial enterprise, and to achieve our many planned development, clinical, and operations milestones.
⭐️ With this financing completed, we look forward to collaborating with Ottobock across a range of development and commercial activities.
Thank you to our advisors at UBS, Skadden Law Firm, Bryan, Garnier & Co, NautaDutilh, Degroof Petercam, and KBC Securities for assisting with this transaction.
🔗 For more details on the capital raise, click on the link for our press release in the comments.
This additional capital will help us achieve our mission to restore movement, function, and independence to the millions of people with spinal cord injuries and movement disabilities around the globe. Thank you to our new and longstanding investors who are supporting us in this pursuit. ✨
#EmpoweringMovement #SCI #CapitalRaise
Note: All ONWARD® Medical devices and therapies, including but not limited to ARC-IM®, ARC-EX®, ARC-BCI™, and ARC Therapy™, alone or in combination with a brain-computer interface (BCI), are investigational and not available for commercial use.
President, Lucid Global
1moI have so many stories of working with Marcus, one in particular where we were filming, it was really hot and he asked for some face powder. Marcus I'm sorry that our faces are very different shades and that I made you look far too pale, I was so embarrassed, I hope you're still graciously laughing about this wherever you are now. Working with you was an absolute blast, you can rest now.