Novo Holdings, the principal investment arm of the Novo Nordisk Foundation, on Wednesday said its plans to invest approximately USD 200 million in quantum computing startups, with a special focus on life sciences.
This initiative is looking to support an ecosystem of emerging technologies in the Nordic region, specifically those that can enhance pharmaceutical developments. The investment targets quantum computing ventures that could potentially accelerate the drug discovery processes, a time-consuming and resource-intensive phase in pharmaceutical production. By applying quantum computing technology, these startups may significantly reduce the duration and cost of developing new drugs.
Soren Moller, the managing partner of seed investments at Novo Holdings, in statement said that the transformative potential of quantum computing in revolutionising is not only big in life sciences sector but various industries globally. Moller added that the ultimate goal of this investment is to "create, grow, and develop strong quantum technology companies in the Nordics," which could place the region at the forefront of quantum computing applications in life sciences.
The commitment by Novo Holdings to invest in such cutting-edge technology shows the broader interest in quantum computing as a critical advancement in the 21st century. This technology, by leveraging the principles of quantum mechanics, is anticipated to perform complex scientific calculations much faster than conventional computers, potentially solving problems that would otherwise take current systems millions of years.
