logo
Danish quantum investment will boost EU biotech and medical research

Danish quantum investment will boost EU biotech and medical research

Euractiv3 days ago
The investment in a new, powerful quantum computing hub in Denmark aims to provide a significant boost to biotech and medical research in the Nordics, according to the CEO of the Novo Nordisk Foundation.
The Export and Investment Fund of Denmark (EIFO) and the Novo Nordisk Foundation have announced plans to invest €80 million in a Level 2 quantum computer. Named after the Norse god Magni, the computer is expected to be operational by 2026–2027.
Mads Krogsgaard Thomsen, CEO of the Novo Nordisk Foundation, told Euractiv that the investment aims to provide a significant boost to biotech and medical research in Denmark, Sweden, Finland, Norway and Iceland. Computer power
It is also a necessary step in generating an even more powerful computer: a level 3 quantum computer, which is expected to be ready for use by 2030 and will be a thousand times more powerful than a level 2 computer.
'Being squeezed from both the West and the East, from both the US and China, Europe is in a vulnerable position and falling behind, as the Draghi report shows. Therefore, we in Denmark would like to do our utmost to restore and strengthen our position in the Nordics.'
Also, Morten Bødskov, Danish Minister of Industry, Business and Financial Affairs, stated that, 'With the investment in the world's strongest quantum computer, we are making a solid shift in the global quantum race."
He added, "This will benefit all of Europe. We need to harness the untapped possibilities of quantum technology for Danish and European businesses, society, and security. Denmark and the EU must lead the race in developing new technologies.' EU-US collaboration
Although primarily European, the Magne project will involve two American companies.
The California-based Atom Computing will build and deliver quantum hardware for Magne, while Microsoft will integrate its Azure cloud platform software, tailored to Atom Computing's neutral atom technology .
TheNovo Nordisk Foundation CEO said that all data input, such as individual health journals, will be stored in Denmark and shall not migrate outside its borders.
'No data is ever leaving Denmark,' he stated.
At the same time, the next generation, the level 3 quantum computer, is planned to be fully based on European technology. Keeping research in Europe
The investors are setting up a company called QuNorth to house the Magne computer in Copenhagen.
Magne will be used alongside AI and hybrid computing; the latter could, for example, integrate public and private clouds or systems, or digital and analogue components of different sorts.
The quantum computing hub in the Danish capital will, according to Thomsen, invite both public and private researchers to conduct advanced calculations to solve complex problems, such as those at the subatomic or molecular level, and study protein mechanisms in medical research.
'We would especially like to stimulate private and public partnerships and to keep innovation in Europe.'
At the same time, 'unethical research' would probably not be allowed, but such a definition is not yet set. Empowering the Nordics
Marie Arsenian-Henriksson, Vice President for Research at the renowned Swedish medical university Karolinska Institutet (KI), told Euractiv that the new initiative creates 'very favourable conditions for researchers and industrial partners in the Nordics within health and life science,' adding that:
'The QuNorth initiative consolidates and further develops the Nordic region's position as a global leader in Quantum Life Science and helps us to translate advanced quantum technology into concrete societal benefits in the field of health."
This is also the view of Juleen R. Zierath, an American professor at the Department of Molecular Medicine and Surgery at KI, and affiliated with a research centre at the University of Copenhagen, financed by the Novo Nordisk Foundation. She is not directly involved in the Magne project.
Usually, she explained, it is very difficult for researchers to access such modern and powerful tools.
'The new quantum computing resources will be very important and open up opportunities to find new medical advances for Nordic researchers in the future. It will be a lift for the whole ecosystem of life science –natural science, tech science and medical science – in the Nordics,' she said. Not without caveats
Even so, Juleen R. Zierath also pointed to the risk of trusting AI and quantum computing too much, as answers and solutions depend on what data a researcher puts into these systems.
'Researchers and students need to have a basic understanding of how to conduct science, and that one needs to put in the highest and most accurate level of information to get the best possible outputs.'
Magne will be 100% Danish-owned, with EIFO and the Novo Nordisk Foundation each investing approximately €40 million in the establishment of QuNorth.
QuNorth plans to build a small organisation of around 10 employees, whose primary task will be to ensure optimal utilisation of Magne across commercial and academic users in the Nordic region. The search for a CEO for the new company is set to start soon.
[Edited by Vasiliki Angouridi, Brian Maguire]
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

FIREPOWER: Trump sparks NATO surveillance aircraft rethink
FIREPOWER: Trump sparks NATO surveillance aircraft rethink

Euractiv

time14 hours ago

  • Euractiv

FIREPOWER: Trump sparks NATO surveillance aircraft rethink

Take a free trial of Euractiv Pro to get FIREPOWER in your inbox. Good afternoon and welcome back to Firepower, This week, we look at a very concrete example of how US defence policy impacts European security. A Pentagon rethink of its planned purchase of surveillance aircraft is forcing NATO to reconsider its own options. We also dig into how much SAFE money EU countries are seeking - spoiler alert: more than is available. There's also a debrief on what we know (and don't know) about the EU-US trade deal's implications for the defence sector, and Germany's record €108 billion annual defence budget proposal. Plus, updates on the first EU country to ban arms trade with Israel. Exclusive: NATO taking another look at surveillance aircraft pick NATO is rethinking its choice to buy a fleet of Boeing E-7 surveillance aircraft by 2035 to be the alliance's eyes in the sky in Europe and replace the ageing AWACS, Firepower has learned. That comes after the Pentagon announced plans to cancel US orders for the E-7, citing high production costs and concerns about the jet's future survivability. As a result, a spokesperson for NATO's procurement agency, the NSPA, told Firepower that the plan as 'as a whole is being assessed'. The Pentagon's rejection of the E-7 for the US military raises questions about whether the Trump administration will still agree to contribute financially toward purchasing 14 of the aircraft for NATO – or if the bill will be left to the seven participating European allies . Lower total E-7 orders thanks to American cancellations would also likely drive up the price per aircraft for the remaining customers, including NATO. The NSPA plans to give an update 'towards the end of September' that will 'include the division of cost across the participating nations'. The spokesperson said that NATO and participating countries are 'evaluat[ing] the available options'. Buy local instead? The current scramble to figure out the E-7's future shows just how much Europe's security policy still hinges on political decisions in Washington. It remains unclear at this stage if the remaining NATO countries might be interested in picking a European aircraft instead of the E-7. Saab, which previously pitched its GlobalEye to the military alliance, told Firepower they remained confident their aircraft remains an 'excellent' option. Douglas Barrie, an aerospace analyst at the IISS think tank, told Firepower that other options include sticking with the existing AWACS for now and following the US in their future choice sometime in the mid-2030s, going for a new 'clean-sheet design' or taking a 'wait-and-see' approach, since the potential E-7 cancellation hasn't passed the US Congress yet. On your radar: EU countries want almost €200 billion from SAFE; UK still sidelined This week, 18 EU countries have put in initial requests for SAFE funds by Tuesday's initial soft deadline . Firepower dug into what capitals are asking for, and some initial ideas of how to spend it. According to our sources and estimates, the club of 18 actually asked for a good bit more than the €150 billion total available for loans, when considering the top end of the requests they sent in. Gone are the days where the Commission was not sure they'll spend the whole pot. The Commission put the total requested at € 127 billion on Wednesday. But submissions included a minimum and maximum range, and Euractiv understands that the Commission's figure was based on the low end of their requests. The EU executive is not stopping there, though. It is sending out a letter to nudge the club of countries which have not given in their request to do so fast. The SAFE programme is also making waves across the pond, with EU Defence Commissioner Kubilius telling Firepower that he saw 'strong interest among American industry' during his recent US visit. Canada has reportedly shown interest in participating . However, the process is not that easy, as the UK's efforts to negotiate access demonstrate. The Commission could send a proposal next week to the EU countries as a basis to start negotiations with the UK, but don't expect those to start in peak holiday season, we're told. Israel-EU tensions rise Slovenia became the first EU country to impose a full ban on weapons trade on Israel on Thursday. The ban also prohibits the transit of any weapons through Slovenia on their way between Israel and elsewhere. Meanwhile on the European level, Israel's potential exclusion from key parts of the EU Horizon Europe research fund now hinges in large part on Germany and Italy. Neither have taken a position on the Commission's proposal, which would cut funding to Israel for dual-use technologies that have potential military applications. Israeli state-owned arms maker Rafael notably attracted attention by posting a video on X where a drone killed a person in Gaza. As the EU Observer highlighted , that could cause Israel to get kicked out of the EU programme. Germany, Europe's largest arms exporter to Israel and the buyer of Israeli-made air defence systems, wants more time to consider its position. A decision to back the Commission would move the needle towards a qualified majority – but that's unlikely to come before Foreign Minister Johann Wadephul returns from a visit to Israel later today. A decision on whether to partially exclude Israel from Horizon Europe could be taken later this summer, one diplomat said.

The Brief – 1 August 2025: The Good, the Bad, and the Ugly
The Brief – 1 August 2025: The Good, the Bad, and the Ugly

Euractiv

time14 hours ago

  • Euractiv

The Brief – 1 August 2025: The Good, the Bad, and the Ugly

Good Friday afternoon, and welcome to the penultimate GBU before Euractiv newsletters have a two-week summer break. Many dear readers will have already swapped desks for deck chairs; others might be en route , joining the throngs on Europe's busiest traffic weekend of the year. The month of mass transit gives many of us a chance to test the limits of free movement – whether impeded by border checks or infrastructure in need of upgrades. Transport Commissioner Apostolos Tzitzikostas warned this week that billions of euros must be spent to ensure the bloc's roads and rail are fit for defence forces. And whether for leisure or strategic purposes, the continent's grand rail vision is losing momentum, held up by a patchwork of regulatory standards, poor cross-border connections, and the high cost of laying new tracks. On top of which, passengers are lured away from the green transport mode by flights that are often much cheaper, and do away with the complicated business of changing between national networks. But for all the convenience it brings, boarding a plane weighs increasingly on our consciences, as our travel choices are one of the main contributors to personal carbon emissions. Those flying within the EU, however, needn't let the burden of climate guilt spoil their vacation: in fact the bloc's Emissions Trading System means that the CO2 cost is already factored into tickets, Niko Kurmayer explains. The system isn't perfect – other pollutants than CO2 are not yet covered – but it goes some way in accounting for a notoriously un-eco travel option. Deal or no deal? The hotly anticipated EU-US trade "deal" that President Trump and President von der Leyen agreed in Scotland last Sunday generated enormous commentary throughout the week. Panned by most EU pundits as capitulation of the highest order, the general revulsion at von der Leyen's bootlicking was widely seen as the abdication of European values, international trade laws, and an outrageous disregard for national sovereignty in matters of defence. Then again, others have pointed to the imperative of avoiding the crushing 30% tariffs that Trump was poised to launch. It could have been worse, they note, and many sectors let out a tentative sigh of relief. If ostentatious obeisance is what it takes to avoid a ruinous trade war, so be it. But the devil's in the lack of detail, and as Thomas Moller-Nielsen writes, it's hard to judge the "biggest trade deal ever' when so many aspects of the agreement remain unknown. Despite Trump's crowing celebrations as if all was done and dusted, this is really just the start of negotiations. And the stakes are high, with key sectors – such as steel and digital markets – the focus of hard-nosed bargaining. With so much still tba, Trump delayed the new tariffs by a week (now due 7 August, rather than today). Let's see where we are next week. Pendulum swings on Gaza Europe's attitude towards Israel grew notably cooler this week, as the blockade on aid deliveries has led to severe starvation in Gaza. Having been extremely hesitant to take action against Israel, the dial is now moving as European leaders face public outcry and more countries announce plans to recognise the Palestinian state. Within the Commission's ranks, executive vice-president Teresa Ribera has been most outspoken as she denounced the EU leadership's inaction over the "catastrophic humanitarian situation" in the Gaza Strip. Former foreign policy chief Josep Borrell went further on Friday, accusing EU leaders of being complicit in the "genocide of Palestinians". But despite expressing 'great concern over the catastrophic humanitarian situation in Gaza,' Germany's Chancellor Friedrich Merz has so far resisted pressure to suspend EU research ties with Israel. Meanwhile, France, Germany and Spain have started airlifting aid into Gaza – though this is far less effective than opening up secure land deliveries. European defence procurement 18 countries have applied for funds under the EU's SAFE programme, which aims to mobilise €150 billion in loans for defence procurement. After initial hesitation (partly because defence spending is a national competence that has historically been beyond the Commission's remit), a total of €127 billion was claimed – a figure that will likely rise once the United Kingdom and others are accounted for. Countries have until November to submit their proposals to Brussels, with breakdowns of what exactly they will do with the loans. Want to get The Good, the Bad, and the Ugly in your inbox? Subscribe to The Brief.

Why Europe should fear Trump's deregulatory blitz
Why Europe should fear Trump's deregulatory blitz

Euractiv

time15 hours ago

  • Euractiv

Why Europe should fear Trump's deregulatory blitz

Sunday's EU-US trade 'deal' – if you can call it that – was a political catastrophe for Ursula von der Leyen, the European Commission, and the EU's 27 member states. Fortunately, it was not an economic one. Most analyses of the agreement – which will see most EU exporters hit with a blanket 15% US levy – estimate the total cost to the bloc's GDP to be around 0.5%: a serious blow that could push Europe's anaemic economy into a recession, but which pales in comparison to the devastation wrought by the 2009 financial crisis (when output shrank by 4.3%) or the Covid pandemic in 2020 (when it plunged by 5.6%). Why is the damage, in relative terms, so small? There are multiple reasons, but the main ones include the 'price inelasticity' of many EU exports (rich Americans will, for instance, still buy Porsches even if they're far more expensive); the likely redirection of trade flows to other regions (such as South America); and many European firms' deep reluctance to relocate production to America (because of massive legal uncertainty and general Trump-induced insanity). Indeed, the basic structure of the EU-US trade relationship, coupled with the 'Tariff Man's' desire to wage a trade war on the entire world, virtually guarantees that the harm inflicted on Europe would always be economically manageable, albeit painful for certain specific industries (especially the export-dependent pharmaceutical and auto sectors). Although the US is the EU's largest trading partner, the €532 billion in EU exports shipped across the Atlantic last year still amount to less than 3% of the bloc's annual GDP – meaning that, even if all EU exports to America were to immediately cease (which is practically impossible), the net impact would still fall well short of the harm inflicted by the Great Recession and Covid-19. (Nitpicky economists would point out that a complete collapse of EU exports would likely have harmful 'secondary' effects, such as skilled workers fleeing the continent, that would further hinder growth. But you get the point.) Furthermore, Trump's desire to impose tariffs on literally every single country (and occasional penguin-inhabited island) means that the relative competitiveness of EU exporters has actually increased as a result of Sunday's agreement. Mexico and Canada – America's two largest trading partners – currently face 25% and 35% tariffs, respectively, on most exports to the US; China, the US's third-largest trading partner and Europe's second-largest, has also been hit with a 30% US levy: twice as high as the EU's rate. (In a thinly veiled allusion to this fact, EU Trade Commissioner, Maroš Šefčovič, wrote on X this morning that 'EU exporters now benefit from a more competitive position'.) These considerations – and the fact that the EU has already successfully withstood a 10% US blanket levy since April – explain why analysts have largely shrugged off the anticipated impact of this week's EU-US deal. 'It is not obvious that the EU is paying a much higher price than had been anticipated,' Deutsche Bank wrote in a note, as they increased the forecast impact of Trump's tariffs on the bloc's output from 0.4% to 0.5%. Bloomberg Economics similarly noted that their anticipated impact of Trump's tariffs on Europe remains 'broadly unchanged' at 0.4% of GDP, although they warned that an 'escalation' of duties on specific sectors, in particular pharmaceuticals, could 'shave off' another 0.3%. Historical fears Arguably, the intense focus on Trump's trade war has come at the expense of media attention on US policies which could, in fact, inflict just as much harm as the 2009 financial crisis – namely, by triggering another financial crisis. In fact, US policymakers themselves have openly sounded the alarm about the potential impact of Washington's push to massively deregulate America's financial sector. In a fascinating speech delivered at the Washington, DC-based Brookings Institution last month, Michael Barr, a governor of the US Federal Reserve, warned that periods of deregulatory zeal preceded all three of the most infamous financial meltdowns over the past century, namely the Great Depression in the 1930s, the 'Savings & Loan' crisis in the late 1980s and early 1990s, and the 2009 global financial crisis that almost triggered the collapse of the euro area. During the ensuing Q&A, Barr said that he 'certainly worried' about the historical parallels to today's situation, in which Washington has sought to slash banks' capital buffers, weaken 'stress testing' requirements, and erode federal supervision of highly volatile cryptocurrencies. 'An important lesson we can draw from US financial crises is the role that ill-advised weakening of the bank regulatory framework played in those crises,' Barr said. 'It is well within our ability, and is our duty as regulators, to learn from these episodes to avoid making the same mistakes.' Barr's fears are widely shared by financial analysts. Indeed, some fear that the American deregulatory bug may already have spread to Europe. Europe's banking sector is "riding the wave of deregulation fetish even if profitability has been improving dramatically' as a result of the European Central Bank's higher interest rates, said Sander Tordoir, chief economist at the Centre for European Reform. Tordoir added that Europe's push to slash regulations is a 'strange sight to behold' given that Europe, unlike the US and Switzerland, successfully avoided a banking crisis in March 2023, when the collapse of San Francisco-based Silicon Valley Bank sparked widespread market panic that ultimately led to the failure of Credit Suisse and its acquisition by rival UBS. 'The supervision from the ECB and financial regulation put in place after 2008 surely has played a constructive role' in Europe's avoidance of any spillover effects, Tordoir said. 'It was a test and only the eurozone passed it with flying colours.' Stupid risks Tordoir's fears have been echoed by other analysts. Finance Watch, an NGO, recently warned that Brussels' push to 'simplify' the EU's securitisation regulations – a sector that allows banks to repackage and sell loans and which played a key role in the 2009 crisis – could increase 'systemic risk' in Europe's financial sector. Sceptics, however, argue that the risks posed by these efforts remain minimal, especially given that the EU's securitisation market remains multiple times smaller than the US's. Some also note that the overall financial craziness in the US – including Trump's repeated attacks on Fed independence, the passing of a deficit-busting federal budget, and the threatened imposition of US capital controls – has deterred EU policymakers from treading a similar path. 'Six months ago, there was a view that, if the US relaxes capital requirements, Europe would have to do the same to preserve the level playing field,' said Nicolas Véron, a senior fellow at Bruegel and the Peterson Institute for International Economics. 'But now the idea of the level playing field with the US under the Trump administration doesn't really pass muster; the growing consensus in Europe is that Trump's policies are dangerous and reckless.' Véron also noted that Europe's ability to withstand the 'somewhat remote' possibility of a US-induced shock has improved over the past decade due to improvements to its banking supervision and overall financial architecture (e.g. the creation of the European Stability Mechanism, or euro area rescue fund). 'At this point the risk is no longer so much that the US will do something stupid and we will do the same stupid thing, but that the stupid things that happen in the US may create risks for Europe,' he said. Economy News Roundup The EU and US clinch trade deal. The agreement, announced on Sunday, averted the imposition of a 30% US blanket tariff on 1 August that threatened to upend the €1.7 trillion transatlantic trade relationship. The deal will see the EU face a blanket tariff of 15% on most goods; EU firms will also purchase $750 billion worth of US energy and invest $600 billion into America over and above what they have already pledged, Brussels said. Read more. France condemns deal as 'submission'. 'It's a dark day when an alliance of free peoples, united in their values and in the defence of their interests, resigns itself to submission,' Prime Minister François Bayrou said on Monday. European Affairs Minister Benjamin Haddad added that it was "urgent" for the EU to prepare to activate its "bazooka" anti-coercion instrument – the bloc's most powerful trade weapon that could limit the American service industries access to EU markets. Read more. The agreement was clinched to ensure support for Ukraine, says Brussels. 'It's about security; it's about Ukraine; it's about current geopolitical volatility,' EU Trade Commissioner Maroš Šefčovič told reporters on Monday. 'I cannot go into [all the] details [about] what was discussed yesterday, but I can assure you it was not only about trade.' The comments come amid deep concern in Europe over the durability of US support for Ukraine, which continues to face escalating Russian attacks more than three years after Moscow's full-scale invasion. Read more. Brussels and Washington offered sharply different accounts of the deal's details. The disagreements include whether some of the EU's steel and aluminium exports to the US will be exempt from Trump's 50% tariff; the timeline for the imposition of tariffs on the EU's pharmaceutical exports; and how – or if – Brussels will 'streamline' the sanitary certification procedure for American pork and dairy. 'There's plenty of horse trading still to do,' US Commerce Secretary Howard Lutnick told CNBC on Tuesday. Read more. The eurozone economy grows by 0.1%. The modest expansion in the second quarter of this year represents a slowdown from the 0.6% GDP growth recorded in the first quarter, but exceeded the zero growth predicted by economists in a Reuters poll. Stronger-than-expected results in Spain and France helped offset an unexpected contraction in Italy. Germany – the eurozone's largest economy, whose export-dependent industries are heavily exposed to US President Donald Trump's sweeping levies – also shrank by 0.1%, in line with analysts' expectations. Read more. Brussels proposes freezing €1.5 billion in EU funds to Ukraine. The move came after Kyiv fell short of implementing reforms linked to tackling corruption and the rule of law. It also came after President Volodymyr Zelenskyy faced rare EU criticism and the first major anti-government protests since Russia's full-scale invasion in 2022 over sweeping changes to two key anti-corruption bodies. (The changes have since been reversed.) But people familiar with the matter said the suspension of the payout was unrelated to Zelenskyy's moves. Read more.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store