Novartis, Qualcomm Ventures Partner in Digital Medicines
Novartis Pharmaceuticals has formed a joint investment company with Qualcomm Ventures to target early-stage companies who offer technologies, products, or services to support digital or mobile technologies that “go beyond the pill” to benefit physicians and patients.
“Digital and mobile technologies are expected to make a significant difference in the pharmaceutical industry. New technologies are emerging such as telephone- enabled devices, mobile applications, wearable devices, and technologies for big and small data to enable delivery of the right medicine to the right patients and more robust pharmacoeconomic analyses,” said Novartis in a statement. “The establishment of the joint investment company combines the knowledge of Novartis’ innovation in the research, development and manufacturing of innovative medicines with Qualcomm’s expertise in digital and mobile technologies.”
Qualcomm Ventures is the investment arm of Qualcomm Inc. a provider of wireless technologies. “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 the Novartis statement. “We are excited by the potential of digital medicines to further enhance our mission of the right drug for the right patient at the right time helping people live longer with a better quality of life giving more time to do the things that matter to them.”