Qualcomm and Novartis to invest up to $100M in health technology companies

Laura Pedulli | | Health Exec | Artificial Intelligence

 

Qualcomm Ventures and Novartis have established a joint investment company that will invest up to $100 million to support early stage companies with technologies, products or services that "go beyond the pill.” 

The partnership pairs Qualcomm’s background in digital and mobile technology with Novartis’ specialty in medicine and drugs. To quality for investment funds, companies must demonstrate that their technologies provide benefits to physicians and/or patients, according to a press release.

The types of technologies of particular interest to the newly formed company include telephone enabled devices, mobile applications and wearable devices.

"By working with Qualcomm Ventures, Novartis sees the opportunity to take a greater leadership role in introducing new mobile or digital technologies that have the potential to change the practice of medicine and bring more breakthroughs with real benefits to patients and society," said David Epstein, division head, Novartis Pharmaceuticals, in a statement.

 

 

Laura Pedulli

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