India has approved 41 pharmaceutical and MedTech projects under the PRIP scheme involving around INR 4,620 crore in total R&D investment, while a new Discovery Track will offer up to INR 50 crore per project or portfolio to support high-risk early-stage drug discovery.
New Delhi — India is expanding support for pharmaceutical and medical technology innovation under the Promotion of Research and Innovation in Pharma MedTech Sector (PRIP) scheme, with 41 projects approved under the first call involving around INR 4,620 crore in total research and development investment.
The approved projects have received around INR 1,600 crore in financial assistance and are expected to catalyse an additional INR 3,020 crore in private investment.
The portfolio covers novel drug discovery, clinical development and innovative medical technologies.
Of the 41 approved projects, 12 are at an early stage and 29 are at a later stage. Startups and MSMEs account for 19 projects, while 22 are being undertaken by large companies.
By priority area, 27 projects are focused on New Medicines, five on Complex Generics and Biosimilars, and nine on Novel Medical Devices.
The Department of Pharmaceuticals has also introduced a new Discovery Track under PRIP to address funding gaps in early-stage novel drug discovery.
Under the new track, startups and MSMEs developing New Chemical Entities and New Biological Entities at Technology Readiness Levels 1, 2 or 3 can receive financial assistance of up to INR 50 crore per company, project or portfolio of projects.
The support requires a minimum 25% co-funding contribution from bona fide institutional investors. Projects can be supported up to TRL 6 under the Discovery Track.
The second call under PRIP is also open across three priority areas — New Medicines, Complex Generics and Biosimilars, and Novel Medical Devices. The overall scheme has a financial outlay of INR 5,000 crore.
Under the Early Stage track, startups and MSMEs working on projects at TRL 1, 2 or 3 can receive up to INR 5 crore per project to advance them up to TRL 5.
Under the Later Stage track, industry players, startups and MSMEs working on projects at TRL 4, 5 or 6 can receive up to INR 100 crore per project, subject to a maximum of 35% of the approved project cost.
Projects approved under the first call include work by Biocon, Bharat Biotech, Sun Pharma, Wockhardt, Zydus, Mankind Pharma and other companies and innovators.
The approved portfolio includes technologies targeting multidrug-resistant infections, regenerative therapies, in-vivo CAR-T platforms, RNA-targeting antivirals and point-of-care diagnostics.
Six projects have also been approved under PRIP’s strategic priority framework, covering areas such as neglected and rare diseases, antimicrobial resistance, outbreak- and pandemic-potential pathogens and vaccines.
The Department of Pharmaceuticals said it is continuing to evaluate remaining applications from the first call, with further results expected over the coming month.
