India, Sept. 30 -- image credit- freepik

Under the first phase of Promotion of Research and Innovation in Pharma MedTech Sector (PRIP), 41 projects with financial assistance of about Rs 1,600 crore have been approved. These sanctioned projects are expected to bring in additional private investment of Rs 3,020 crore, taking the total R&D investment in these projects to about Rs 4,620 crore.

The approved portfolio encompasses the innovation value chain, which includes new drug discovery, clinical development, and innovative medical technologies.

Out of the 41 projects sanctioned so far, 12 are in the initial stage and 29 are in the later stage. 19 projects are being done by startups and MSMEs, while 22 projects are being done by big comp...