Qualcomm, Novartis launch joint investment firm

Qualcomm Ventures

Qualcomm is looking to extend and expand its partnership with Novartis as the two companies are preparing to launch a $100 million fund to “go beyond the pill.”

The chip maker’s VC arm, Qualcomm Ventures, will be working with Novartis’ health experts to target early stage companies and support select tech innovations.

“Qualcomm has been actively investing in digital health since 2011, and we currently have 18 healthcare startups in our global portfolio,” said Nagraj Kashyap, senior vice president of Qualcomm Ventures.”This joint investment company with Novartis will allow us to combine their expertise in healthcare solutions with our knowledge of mobile technologies to accelerate innovation in the field of digital medicine.”

Additional details will likely be unveiled in the coming weeks and months…