29th April 2021
New investment for EIT Health Headstart winner Virtonomy.
In 2020 Munich-based Virtonomy found itself on the winner’s list of the EIT Health Headstart funding programme with its cloud-based SaaS solution that facilitates conducting data-driven studies on virtual patients. Their solution is based on an ever-expanding database to reflect anatomical variability, demographic diversity and pathological conditions of the target population cohort. Manufacturers of medical devices can use Virtonomy to test their technologies on this virtual patient in all development phases – from the concept phase to the preclinical evaluation to long-term monitoring in widespread use on patients. Examples include a better understanding of the target anatomy, finding the optimal fit of the device to treating the maximum number of patients, identifying the right in-vivo model, and improving clinical trials by proper sub-population selection. This will allow them to shorten the time-to-market for life-essential medical devices, accelerate medical innovation and significantly reduce costs.
Founded by Simon Sonntag and Wen-Yang Chu in 2019, the start-up is now taking up a pioneering role in this breakthrough area of digital healthcare. In April 2021 the EIT Health Headstart winner announced the closing of a seven-digit investment led by Dieter von Holtzbrinck Ventures. Since digital health is one of the focus areas of the investor, Virtonomy is an excellent choice for their network. In addition to the financial resources, the start-up can also profit from DvH Ventures’ management expertise, their international investor network and access to a wide media reach including the publishing groups Handelsblatt, Tagesspiegel and DIE ZEIT. Bayern Kapital, the Initiative for Industrial Innovators and Plug and Play also participated in the funding round.
“Virtonomy’s founding team is highly experienced and well-connected in the medical technology field. The software addresses and solves a relevant problem in conducting clinical trials in the global medical device market. We expect software-based simulations and in-silico testing methods to experience very strong growth over the next five years, which is already supported by international regulatory initiatives.”
Fabian von Trotha, Managing Partner DvH Ventures