Qualcomm Ventures, the venture investment arm of Qualcomm Incorporated (NASDAQ: QCOM), is to team up with Novartis Pharmaceuticals, the global health care leader, to create a joint investment company focused on investing in early stage companies.
The new company will leverage up to $100m to support startup developing technologies, products or services that “go beyond the pill” to benefit physicians and patients. It aims to back developers of digital technologies capable of optimizing the value of innovative medicines by providing integrated solutions for physicians and patients.
Qualcomm Ventures is a global investor in wireless technologies and one of the most active strategic investors in digital health. It currently has 18 healthcare startups in its global portfolio.