ONWARD Medical Announces the Appointment of Lucas Buchanan to its Board of Directors

• Buchanan is former CFO and COO of Silk Road Medical, where he successfully scaled a growth-stage medical device company, leading to an acquisition by Boston Scientific.

• Buchanan, formerly a venture capitalist with the Vertical Group, is also an active investor, advisor, and board member for several innovative medical device companies and healthcare investment funds.
  

EINDHOVEN, The Netherlands, Aug. 06, 2025 (GLOBE NEWSWIRE) — ONWARD Medical N.V. (Euronext: ONWD and US OTCQX: ONWRY), the leading neurotechnology company pioneering therapies to restore movement, function, and independence in people with spinal cord injury (SCI) and other movement disabilities, today announces the appointment of Lucas Buchanan as a non-executive member of its Board of Directors.

“We are delighted to welcome Lucas Buchanan to our Board of Directors,” said Dave Marver, CEO of ONWARD Medical. “Lucas has a unique and valuable set of experiences as an operator, investor, and leader. He has also successfully NASDAQ-listed, scaled, and exited a medical technology company. He is ideally qualified to join our Board as we grow our business and pursue our mission.”

“ONWARD is a truly unique company powered by an inspiring vision and breathtaking technology. The Company is delivering hope to people with spinal cord injury and other movement disabilities,” said Buchanan. “I look forward to helping Dave and the team pursue its ambitions for the benefit of millions of people around the globe.”

Buchanan brings over 25 years of expertise in commercialization, operations, business development, investing, and finance. As the Chief Operating Officer and Chief Financial Officer at Silk Road Medical, he helped lead the company from its founding through to its IPO in 2019 and ultimate sale to Boston Scientific in 2024. Buchanan previously held roles at The Vertical Group, Impax Laboratories, Warburg Pincus, Medtronic, and Ernst & Young.

Buchanan is an active investor who currently serves on the Boards of Directors for several medical technology companies, including Element Science, Aerin Medical, Route 92 Medical, Procyrion, and Endologix. He holds a BA in Economics from Duke University and an MBA in Health Care Management from The Wharton School at the University of Pennsylvania.

About ONWARD Medical

ONWARD Medical is the leading neurotechnology company pioneering therapies to restore movement, function, and independence in people with spinal cord injuries (SCI) and other movement disabilities. Building on more than a decade of scientific discovery, preclinical research, and clinical studies conducted at leading hospitals, rehabilitation clinics, and neuroscience laboratories, the Company has developed ARC Therapy, which has been awarded ten Breakthrough Device Designations from the US Food and Drug Administration (FDA). The Company’s ARC-EX System is cleared for commercial sale in the US. In addition, the Company is developing an investigational implantable system called ARC-IM with and without an implanted brain-computer interface (BCI).

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, 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:
Sébastien Cros, VP Communications
media@onwd.com

For Investor Inquiries:
investors@onwd.com

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.