We updated our model (New “Accumulate”, New € 5.1 TP) after Biotalys plans a strategic refocus, concentrating resources on its top-priority biofungicide programs. Early-stage activities will be suspended and the organization downsized to cut costs while they claim “protecting long-term platform value”. The shift prioritizes Evoca NG, BioFun-6, and already partnered programs with the Gates Foundation and Syngenta. These measures aim to reduce cash burn by €20m through 2028 and strengthen commerci...
We will update our model (from “Buy” to “under review”) after Biotalys plans a strategic refocus, concentrating resources on its top-priority biofungicide programs. Early-stage activities will be suspended and the organization downsized to cut costs while protecting long-term platform value. The shift prioritizes EVOCA NG, BioFun-6, and already partnered programs with the Gates Foundation and Syngenta. These measures aim to reduce cash burn by €20m through 2028 and strengthen commercialization r...
Onward announces enrolment of the first participant in the Empower BP trial. The trial evaluates the ARC-IM system to address blood pressure instability in SCI patients. We note that Onward plans an interim analysis of the efficacy results in 2H26, which could accelerate timelines if fewer total patients are required. Short-term, we look forward to the FY25 results to gain a view on the ARC-EX commercial launch (9M25: 70 devices sold). We reiterate our € 8.9 TP and BUY rating.
ONWARD Medical Announces First Participant Enrolled in Global Pivotal Study Evaluating ARC-IM System to Address Blood Pressure Instability After Spinal Cord Injury Empower BP is a landmark global pivotal study evaluating the safety and effectiveness of the implantable ARC-IM® System to address blood pressure instability after spinal cord injury (SCI)Blood pressure instability is a key unmet need after SCI, with a significant impact on cardiovascular health and quality of lifeThe first participant was enrolled at Craig Hospital in Denver, Colorado, USA EINDHOVEN, the Netherlands, Feb. 04, ...
Biotalys has entered into a strategic partnership with 21st.BIO to accelerate the production of Biotalys' protein-based biocontrol solutions. Biotalys indicated that this collaboration will leverage 21st.BIO's proprietary fermentation platform to support the production of Biotalys' AGROBODY agricultural biocontrol products at commercially competitive costs. We regret that Biotalys and Novonesis will conclude their collaboration (in line with the transition to this new agreement). Biotalys will...
Onward announced the appointment of a new CFO, Ali Kiboro. Mr. Kiboro brings more than 25 years of financial experience to Onward. He joins Onward from AliveDx where he served as Chief Financial Officer, leading the company's financial strategy, capital markets activities, and operational transformation. Prior to AliveDx, Ali held a variety of senior financial leadership roles at Quest Diagnostics and General Motors. Ali holds an MBA in Finance from The Wharton School and a Bachelor of Science i...
ONWARD Medical Appoints Ali Kiboro as Chief Financial Officer EINDHOVEN, the Netherlands, Jan. 23, 2026 (GLOBE NEWSWIRE) -- ONWARD Medical N.V. (Euronext: ONWD – US ADR: ONWRY), the neurotechnology company pioneering spinal cord stimulation therapies to restore movement, function, and independence, today announces the appointment of Ali Kiboro as Chief Financial Officer, effective January 2026. Ali brings more than 25 years of financial leadership experience across medical technology, tools and diagnostics, and general industry. He joins ONWARD Medical from AliveDx (formerly Quotient Lim...
Onward announced the successful 6th and 7th implants of its brain-computer interface (BCI) device in two additional spinal cord injury (SCI) patients, bringing the total number of human implants to seven. Onward's ARC-BCI effectively combines its proprietary implantable ARC-IM technology to affect movement and function with Clinatec's pioneering BCI device for thought-steered control, and we believe the joint technology could trigger a major step forward for patients suffering from spinal cord i...
ONWARD Medical Completes Two Additional Brain-Computer Interface Implants Paired with Spinal Cord Stimulation Technology to Restore Thought-Driven Movement Investigational ARC-BCI® Therapy is being developed to restore thought-driven movement in people living with spinal cord injuries and other movement disabilitiesARC-BCI is the world’s first and most advanced purpose-designed platform pairing a brain-computer interface with an implantable spinal cord stimulation system Seven study participants have now received ARC-BCI Therapy to restore movement of their own paralyzed limbs EINDHOVEN, t...
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