Novo Holdings Set to Invest $200 Million in Quantum Technology
By Helena Smolak
Novo Holdings said it plans to invest $200.5 million in a quantum technology hub in Denmark, a move that aligns with the company's strategy to grow investment in this industry.
The controlling shareholder of Novo Nordisk--manufacturer of weight-loss drug Ozempic--said Wednesday that it aims to build an ecosystem of quantum computing start-ups applied to life sciences in the Nordics. Quantum computing refers to the use of specialized technology that solves complex problems that classical computers or supercomputers can't solve.
"Quantum technology is a disruptive and transformative field that can revolutionise various sectors and address global challenges," Soren Moller, managing partner of Novo Holdings' Life Science Investments Unit said.
The investment arm of the Novo Nordisk Foundation said its investment will potentially extend beyond the Nordics, it said.
Write to Helena Smolak at helena.smolak@wsj.com
(END) Dow Jones Newswires
May 01, 2024 05:06 ET (09:06 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Why Immigration Has Boosted Job Gains and the Economy
-
What to Invest in During High Inflation
-
Never Mind Market Efficiency: Are the Markets Sensible?
-
Starbucks Stock Could Use a Pick-Me-Up After Big Selloff; Is it a Buy?
-
5 Cheap Stocks to Buy From an Attractive Part of the Market
-
Markets Brief: All Eyes On Inflation
-
5 Things We Learned From the Q1 Earnings Season
-
After Earnings, Is Palantir Stock a Buy, a Sell, or Fairly Valued?
-
Going Into Earnings, Is Target Stock a Buy, a Sell, or Fairly Valued?
-
Walmart Earnings: Low Prices and Strong Digital Presence Drive Market Share Gains
-
After Earnings and a Big Selloff, Is Shopify Stock a Buy, a Sell, or Fairly Valued?
-
Cisco Earnings: Positive Guidance and Splunk Inclusion Align With Our Long-Term Thesis
-
3 Warren Buffett Stocks to Buy After Berkshire Hathaway’s Just-Released 13F Filing
-
Going Into Earnings, Is Nvidia Stock a Buy, a Sell, or Fairly Valued?
-
After Earnings, Is Arista Stock a Buy, a Sell, or Fairly Valued?
-
A Cheap Dividend Aristocrat to Buy Before It Bounces Back