ONWARD Medical Establishes US ADR Program and Begins Trading on OTCQX Best Market

Core Viewpoint - ONWARD Medical N.V. has established a sponsored Level 1 American Depositary Receipt (ADR) program in the United States, facilitating trading for US investors following FDA clearance and commercial launch of its ARC-EX System [2][3][4] Group 1: ADR Program and Trading - The ADR program allows US institutional investors to trade ONWARD Medical's shares in US dollars, enhancing accessibility for those interested in the company's growth [3][4] - The ADRs are now trading on the OTCQX Best Market under the ticker symbol ONWRY, with one ADR representing one ordinary share of ONWARD [2][4] - The partnership with Bank of New York Mellon (BNY) as the depositary bank is expected to improve stock liquidity and broaden the shareholder base [3][4] Group 2: Company Overview and Technology - ONWARD Medical focuses on innovative spinal cord stimulation therapies aimed at restoring movement and independence for individuals with spinal cord injuries and other movement disabilities [2][7] - The company has developed ARC Therapy, which has received ten Breakthrough Device Designations from the FDA, and the ARC-EX System is cleared for commercial sale in the US [7] - ONWARD is also working on an investigational implantable system called ARC-IM, which may include a brain-computer interface [7][8] Group 3: Market Presence and Future Engagement - The establishment of the ADR program and the upgrade to OTCQX is seen as a significant milestone for ONWARD Medical, enhancing its presence in the US market [4] - The company aims to engage with the spinal cord injury community to develop solutions that restore movement and function [5][7] - US investors can access financial disclosures and real-time quotes through the OTC Markets website, further facilitating investment opportunities [5]