ONWARD Medical sold or supplied 88 ARC-EX systems in the third quarter, up 120 percent in units year over year. Total revenue was 2.5 million euros, of which 2.0 million came from ARC-EX sales and supply. Most of the quarter's units went to home use.
ARC-EX is a non-invasive spinal cord stimulation system for people with chronic spinal cord injury. It took FDA De Novo classification in December 2024 and is cleared in the United States and Europe. At quarter end it was available in more than 170 clinics, including 150 rehabilitation clinics and US Department of Veterans Affairs facilities, with sites in the Netherlands, Switzerland, Germany, the UK, France, Israel, Italy and Spain.
Cash stood at 73.4 million euros on September 30. The Eindhoven company signed a facility with BlackRock-managed funds for up to 50 million euros, drew 20 million at closing and retired its Runway Growth Capital loan.
The implanted programs are still investigational. ONWARD has 31 participants enrolled in Empower BP, a randomized sham-controlled global study of ARC-IM for blood pressure instability after spinal cord injury, with 16 sites recruiting in the United States, Canada and Germany. It reported first implants in both the chronic and subacute cohorts of the EIGER mobility study and first-in-human use of ARC-IM for bladder control at CHUV in Lausanne.