The Munich-based startup Virtonomy aims to bring medical devices to market faster. To this end, the healthcare startup supports data-driven clinical trials on virtual patients. How this works and how the Plant1-Startup is running, CEO Simon Sonntag tells us.
Munich Startup: Who are you and what do you do? Please introduce yourselves briefly!
Simon Sonntag, Virtonomy: I'm Simon Sonntag (34), CEO and co-founder of Virtonomy. I studied Applied Mathematics with a focus on medical image processing and medical engineering at the Technical University of Munich and subsequently received my doctorate in cardiovascular engineering from RWTH Aachen University. In addition, we have a strong team with extensive experience in software development, deep learning, medical engineering, finance, and management.
Studies on virtual patients
Munich Startup: What problem does your startup solve?
Simon Sonntag: At Virtonomy, we shorten the time to market of medical devices by data-driven studies on virtual patients and thus initiate the digital implementation of classic experiments in the test laboratory, on animals and humans. Our solution is based on a constantly expanding database to digitally map the anatomical Variaability, demographic diversity, and pathological conditions of the patient population. Clinical trials are becoming increasingly expensive; our mission is to significantly reduce the development costs of vital medical devices and accelerate medical innovations again.
Munich Startup: But that's been around for a long time!
Simon Sonntag: Actually, not. Many established companies and startups in the field of digital health and artificial intelligence are focusing on digital solutions for hospitals, for example, in radiology. We have a different target group: implant manufacturers and digital approval processes using computer-aided simulations. This is a very new market, but one that has enormous potential and growth opportunities.
Corona crisis offers opportunities for Virtonomy
Munich Startup: What have been your biggest challenges so far?
Simon Sunday: The current coronavirus crisis naturally presents us with some challenges. However, we should also see every challenge as an opportunity. The current situation underscores the relevance of our digital solutions for virtually testing medical products and accelerating their market launch.
Another challenge, as with any startup, is financing. We have the advantage of already having paying customers and thus revenue. However, we still rely on investors to scale, which is an even greater challenge in the current situation.
Munich Startup: Where would you like to be in one year, where in five years?
Simon Sunday: In one year, we aim to have migrated the product, which has already been successfully tested on the market, to a scalable, cloud-based infrastructure. In five years, we aim to be the market leader in the digitalization of clinical trials with virtual patients. To achieve this, we are always looking for the right partners and investors.
“Munich is a great startup location”
Munich Startup: How do you rate Munich as a startup location?
Simon Sunday: It's impressive what has happened in Munich in recent years. Munich now holds its own as a startup location by international standards. This is particularly thanks to UnternehmerTUM, Werk 1, Bits&Pretzels, and the LMU Accelerator. We are very happy to be part of this community.
Munich Startup: Apple or Android?
Simon Sunday: Android, I actually don't have a single Apple product.
