Govt Moots 2 Year Funding Programme To Quicken Drug, Medical Device Innovation
The Central government has proposed a new grant-in-aid programme to hand-hold healthcare and medical researchers who are keen on commercialising their breakthrough ideas and technologies in the pharmaceutical and medical devices sector. The funding, to be provided for a maximum span of 24 months with an unlimited quantum of budget, would benefit research activity and innovation in the field of drug discovery, biotherapeutics, regenerative medicine, vaccines, clinical trials, medical devices and diagnostics.
The scheme, to be implemented by the Department of Biotechnology (DBT) and the Biotechnology Industry Research Assistance Council (BIRAC) would have two components. While the Academic Lead Translation programme aims at promoting validation of proof-of-concept for a novel process or product, Academic-Industry Translational Research, the second initiative, intends to achieve this objective with industry participation. The DBT will fund the academic partner and the industry will be backed by BIRAC.
The fund will be disbursed in three installments on a milestone payment basis. Though the intellectual property (IP) rights will rest with academia, the industry partner will have the first right of refusal for commercial exploitation of the new IP. The projects submitted before December 31 will be considered for the scheme and at the end of 24 months, the apex committee of the DBT will review them and promising studies could get an extension.
The programme is the latest in DBT’s efforts to promote academia-industry collaboration to develop indigenous and cost-effective therapies. The move is crucial, as according to industry experts, Indian innovators are primarily scientists and researchers who lack the business acumen to convert an invention into a marketable product. “As of now, many of them are banking on organisations like Biotechnology Consortium India Limited for facilitating their technology transfer to the industry for commercial applications,” a senior scientist associated with Regional Centre for Biotechnology pointed out.
In April, the Central Drugs Standard Control Organisation opened a dedicated division to help healthcare innovators obtain regulatory approvals quickly. A separate public relations office also opened at the CDSCO which can be approached by innovators and start-ups for information on regulatory requirements. An email id, startupinnov@cdsco.nic.in, also has been created wherein “all the stakeholders can forward their queries, grievances and suggestions for taking expeditious action as deemed fit on case-to-case basis”.