EINDHOVEN, the Netherlands, Oct. 21, 2026 (GLOBE NEWSWIRE) — ONWARD Medical N.V. (Euronext: ONWD – US OTCQX: ONWRY), the neurotechnology company pioneering spinal cord stimulation therapies to restore movement, function, and independence in people with spinal cord injury (SCI) and other movement disabilities, today announced the appointment of Fouad Azzam as a non-executive member of its Board of Directors.
“We are pleased to welcome Fouad Azzam to our Board of Directors,” said Dave Marver, CEO of ONWARD Medical. “His deep experience supporting growth-stage medical device companies is highly relevant as we scale our business and pursue our important mission to help people living with spinal cord injuries and other movement disabilities.”
“ONWARD combines breakthrough science, a high potential business opportunity, and a clear path to make a meaningful impact for people living with paralysis,” said Fouad Azzam. “I look forward to supporting the ONWARD team as they expand access to the ARC-EX® System and advance the broader pipeline, which includes groundbreaking implantable spinal cord stimulation and brain-computer interface technologies.”
Fouad is a Partner in the EQT Life Sciences team. Before joining EQT, he served as Managing Director of Eastman Ventures and as a Director at Eastman Chemical Company, where he held various roles spanning strategy, new business development, and corporate development. Earlier in his career, he worked in the Research and Business Development group at Occidental Chemical Company. He currently serves on the Boards of Directors for several biotechnology and medical technology companies, including Neuros Medical, Shinobi Therapeutics, HotSpot Therapeutics, and Xycolor Therapeutics. He previously served on the Boards of multiple medical technology companies including Cardiac Dimensions, Endotronix, and Simplify Medical.
Fouad holds a PhD in Chemical Engineering from the University of Akron and an MBA from the State University of New York at Buffalo.
About ONWARD Medical
ONWARD Medical is the neurotechnology company pioneering therapies to restore movement, function, and independence in people with spinal cord injuries (SCI) and other movement disabilities. Building on decades of scientific discovery, preclinical research, and clinical studies conducted at leading hospitals, rehabilitation clinics, and neuroscience laboratories, the Company developed the ARC Therapy. It has subsequently been awarded 10 Breakthrough Device Designations from the FDA. The Company’s ARC EX® System is cleared for commercial sale in the US and Europe. The Company is also developing an investigational implantable system called ARC-IM®, designed to address several unmet needs including blood pressure instability after spinal cord injury. It can also be paired with a brain-computer interface (BCI) and artificial intelligence (AI) to restore thought-driven movement.
Headquartered in the Netherlands, the Company has a Science and Engineering Center in Switzerland and a US office in Boston, Massachusetts. The Company is listed on Euronext Paris, Brussels, and Amsterdam (ticker: ONWD) and its US ADRs can be traded on OTCQX (ticker: ONWRY).
To learn more about ONWARD Medical’s commitment to partnering with the spinal cord injury community to develop innovative solutions for restoring movement, function, and independence after spinal cord injury, please visit ONWD.com.
To be kept informed about the Company’s technologies, research studies, and the availability of therapies in your area, please complete this webform.
For Media Inquiries:
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Disclaimer
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, delays in regulatory approvals, 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.
Trademarks: ONWARD, ARC-EX, ARC-IM, ARC-BCI, and the stylized O-Logo are proprietary and registered trademarks of ONWARD Medical. Unauthorized use is strictly prohibited.
Investigational Products: ARC-IM and ARC-BCI are investigational and not available for commercial use. ARC-IM is limited by United States law to investigational use.
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