The life sciences sector is primed for quantum computing, with the technology poised to greatly reduce the time and cost required to bring a drug to market. Without instructions, however, quantum computers can’t achieve these savings alone. Algorithmiq, a Finnish quantum-computing software developer, exists to provide these instructions, allowing quantum computers to bring their full power to bear on chemistry simulations.
While Algorithmiq isn’t unique in developing quantum software, its hybrid approach is. Its drug discovery platform, Aurora, combines noise-resilient quantum computing with classical algorithms, allowing for the solving of problems that are completely impossible to achieve with classical hardware and software alone. The company’s recent fundraise will be used to form collaborations within the global pharmaceutical industry and to further develop the platform, with an aim of developing a proof of concept that will outperform the most powerful classical computers in drug discovery before the end of 2023.
Steph
Company Specialist at Welcome to the Jungle