Novo Holdings, the parent company of the maker of weight-loss drugs Ozempic and Wegovy, is investing millions to create a global innovation hub for quantum technology in Denmark.
ADVERTISEMENTIn plans aimed at revolutionising healthcare and other life sciences, Novo Holdings is investing DKK 1.4 billion (€188 million) in building a hub of start-ups focused on new technologies including quantum computing.
Quantum computers, capable of making scientific calculations that would otherwise take most computers thousands of years, can potentially speed up the development of pharmaceuticals and other life sciences.
Novo Holdings is the parent company of Europe's most valuable firm, Novo Nordisk, known for its weight-loss medication Wegovy and Ozempic, a diabetes drug.
"Quantum technologies are currently on a steep development trajectory, especially in the Nordics," reads their press release.
They are both part of the Danish Novo Group, a group of companies controlled by the Novo Nordisk Foundation, the world's largest charitable foundation.
"Combining Novo Holdings' longstanding experience in developing the life sciences ecosystem in the Nordics with the quantum activities and commitment from the Novo Nordisk Foundation provides a very powerful platform for building quantum startups. Our ultimate goal is to create, grow and develop strong quantum technology companies in the Nordics,' said Søren Møller, Managing Partner, Seed Investments, Novo Holdings.
The new investment follows the establishment of the Novo Nordisk Foundation Quantum Computing Programme (NQCP) which is aimed at creating one of the world’s first fully functional and generally applicable quantum computers.
Another such initiative of the Novo group was setting up The Quantum Foundry, a limited liability company to develop quantum materials and quantum chips, among others.
The press release noted that the Danish government has also committed to spend the equivalent of €160 million on quantum technology research, which combined with the private contributors' share, including the Novo Nordisk Foundation, makes Denmark's per capita investments in quantum technology the highest in the world today.
