Virtonomy was founded in 2019 by Simon Sonntag and Wen-Yang Chu in Munich and develops data-driven virtual patients in combination with multiphysical simulations. With this approach, the startup aims to increase cost-efficiency in the development of medical devices, since virtual (in silico) testing allows more tests to be conducted in less time with more iterations. At the same time, the digital twins reduce animal and human testing. In initial preclinical and clinical studies conducted in collaboration with medtech manufacturers, Virtonomy has already demonstrated the effectiveness of its solution.
As early as 2021, the Munich-based company was able to secure a seven-figure investment. Now comes an additional 3.5 million euros, including from existing investors Bayern Kapital, Dieter von Holtzbrink Ventures and Industrial Innovators. Accenture Ventures, Honeystone Ventures, N&V Capital, Pace Ventures and Springboard Health Angels are also joining as new investors.
Simon Sonntag, CEO of Virtonomy, explains:
“We are delighted to have received this investment to advance our work on developing digital patient twins. We are firmly convinced that our platform will revolutionize the medical device industry and make it more efficient and effective than ever before. With this investment, we can continue our work and expand our reach globally.”
“Virtonomy creates future-oriented technology”
“From our perspective, in-silico testing is an important milestone to significantly optimize the development of medical devices and implants and minimize development costs and risks”,
comments Monika Steger, managing director of Bayern Kapital.
“Virtonomy creates future-oriented technology for the medical device industry and has developed significantly since our initial investment, which is why we are pleased to continue supporting the company through our renewed investment.”
And Tom Lounibos, managing director of Accenture Ventures, says:
“Digital twin technology, together with data, analytics and artificial intelligence, opens up endless new possibilities for reinventing the biosciences industry. But there must always be a strong data foundation to create accurate digital twin simulations. We will work with Virtonomy to establish a strategy for real-time data collection that includes both high-quality historical data and continuous data monitoring and validation from new sources.”
