Munich Startup: What does Bonescreen do? What problem are you solving?
Dominik Maurer, Bonescreen: As the name Bonescreen suggests, our focus is on bones and bone health. Our particular focus is on the early detection of osteoporosis, a widespread disease that is unfortunately diagnosed too late or often not diagnosed at all in this country.
For the approximately six million people affected in Germany, this means an increasing fracture risk each year. However, such bone fractures significantly impair quality of life, especially in old age. In Europe, on average, one in three women and one in five men will suffer an osteoporotic fracture at some point in their lives.
With our first product SpineQ We have developed radiological software that automatically analyzes virtually every CT scan performed in a clinical setting for osteoporosis, providing treating physicians with additional diagnostic information. If SpineQ identifies low bone density or an increased future risk, physicians can either initiate further analyses or directly prescribe preventive measures.
Bonescreen provides research-based evidence
Munich Startup: But that's been around for a long time!
Dominik Maurer, Bonescreen: Almost. The market for AI-supported medical image analysis is large, that's true. But osteoporosis itself remains a niche disease. We want to change that. We're encouraged by the growing awareness in Scandinavian countries, something we're still somewhat lacking in Germany. Many startups have also decided to focus on X-ray or magnetic resonance imaging instead of CT scans.
This means that the two main competitors in our field are American companies, who cannot compete with the technology we have developed. This also applies to some young companies that are slowly venturing into the field, because: What many Startups What's lacking in this field is the clinical and research-based evidence that we at Bonescreen have to offer, based on our more than 20 years of research. This gives us the security and staying power that are necessary in the medical technology field.
Munich Startup: What is your founding story?
Dominik Maurer, Bonescreen: Bonescreen was founded in February 2022. Since then, our founding team has grown from two to six co-founders. A large part of the team knows each other from their time together at the Technical University of Munich, where one of our founders is a professor of radiology. Four of the six co-founders began or completed their doctoral studies here, and the last one brought in external business and financial expertise. Furthermore, we not only combine interdisciplinary expertise thanks to our diverse backgrounds in radiology, software development, and finance, but also have a diverse team on an intercultural level: our team comes from Germany, Jordan, India, Ghana, and soon also from Egypt.
Certification as the biggest hurdle
Munich Startup: What have been your biggest challenges so far?
Dominik Maurer, Bonescreen: While you might think that a six-person founding team would be a constant source of consensus, this works surprisingly well for us. When it comes to strategy and vision, we all share the same ambitions.
The biggest challenge, by far, was securing the capital needed to enable a large portion of the team to fully commit to the Bonescreen adventure and also feel financially secure. We've achieved this since May 2023 with EIT Health's €1.5 million co-investment. Now it's time to position Bonescreen for the future. The biggest hurdle here is CE certification, which is so important for medical technology products or software. Commercialization is largely impossible without it, which is why we're working on it as a team, which takes a lot of time.
Munich Startup: Where would you like to be in one year, where in five years?
Dominik Maurer, Bonescreen: Like any startup, we have a lot planned for the next twelve months! To sum it up in three words: CE certification, financing, and commercialization.
The medical technology sector is heavily regulated for good reasons, and anyone who wants to sell a product or software must have it certified by government-appointed bodies. We aim to reach this milestone by the end of the year so that we can then market our product commercially. To pave the way for product expansion now, we plan to use additional capital to hire two to three employees and secure liquidity until the end of 2025. We are currently planning an angel round. Over the next five years, we want to be THE test that doctors across the DACH region use to diagnose osteoporosis early in most patients. We see this as our contribution to enabling as many people as possible to age with dignity.
“Firmly rooted in Munich”
Munich Startup: How have you experienced Munich as a startup location so far?
Dominik Maurer, Bonescreen: We've been in Munich for a long time and have deep roots here. Our entire founding team either lived or studied here and appreciates the location. Never has a decision been easier for us. Access to well-trained, motivated specialists with a shared love of outdoor recreation, as well as our local network in the radiology community, naturally made the decision even easier. It was also easy to quickly find office space. For example, we're currently located in Werk1 and feel right at home there.
Munich Startup: Outsource or do it yourself?
Dominik Maurer, Bonescreen: Technology? Absolutely: Do it yourself, always! For everything else, at least initially, the answer is: Do it yourself. Because if you outsource everything from the start, it will be difficult to estimate how much time things will actually take and you'll most likely end up paying for services that aren't necessary. That's a luxury we can't afford as a startup (and wouldn't want to even if we could).
