Qualcomm and Novartis partner to improve wearable health technology
Qualcomm and Novartis have created a joint investment company to push forward innovation in creating digital technologies that “go beyond the pill,” to optimise medicines and patient monitoring.
To qualify for inward investment from the newly formed company, innovative solutions which use technology to provide benefits to physicians and/or patients must be demonstrated.
David Epstein, Division Head, Novartis Pharmaceuticals said “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.” He went on to express his hope that so called ‘digital medicines’ could extend and/or improve the quality of life of patients.
Novartis says that technologies such as wearables used for medical and health purposes “are expected to make a significant difference in the pharmaceutical industry”. It is hoped that the medicine and drugs expertise of Novartis combined with the digital and mobile technology in which Qualcomm is a leader should help the investment company pick the best projects to grow and one day help improve our lives. Remember Qualcomm is also the company behind the $10 million Tricorder X Prize.
The market for wearables and IoT devices is set to rocket in the coming months and years according to a plethora of analysts and pundits. Meanwhile it is good to see investments being made to accompany the efforts coming from big tech players such as Samsung, Microsoft and Google.
Source: Novartis press release