Blockchain For Impact forms ties to boost India’s health tech

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Blockchain For Impact (BFI), a healthcare fund set up during the second wave of the COVID-19 pandemic in India, has signed a pact with CSIR-Central Drug Research Institute (CDRI) to strengthen biomedical research and drive healthcare innovation. 

The collaboration is under the BFI-BIOME Virtual Network Program, which aims to tackle the country’s unmet clinical needs, focusing on research in malaria, dengue, and metabolic diseases. The collaboration seeks to create new pathways for translational research that will shape the future of healthcare and revolutionize India’s public health landscape.

The BFI is a catalyst funder within the global blockchain industry, working with partners to build multi-sector collaborations that create long-term, equitable solutions to strengthen India’s strained healthcare infrastructure and support marginalized and vulnerable communities.

BFI has also announced a partnership with the Translational Health Science and Technology Institute (THSTI) under the BFI-BIOME Virtual Network Program, to accelerate translational research in vaccines, infectious diseases, diagnostics, and metabolic diseases. BFI said the collaboration aligns with the nation’s Viksit Bharat (developed India) goal by 2047 and contributes to India’s vision of becoming a global leader in biotechnology.

The BFI has been actively working with leading Indian institutions to drive advancements in healthcare in the world’s most populous country. In 2024, it allocated over $150,000 over three years to support healthcare-focused startup initiatives at the Indian Institute of Technology Kanpur (IITK), renowned for its excellence in science and engineering education. This cooperation aims to develop innovative solutions to address critical challenges within India’s healthcare system.

In addition, BFI has committed $900,000 over three years to the Indian Institute of Technology Bombay, a leading institution in engineering and research, to accelerate biomedical research across the country. Furthermore, it partnered with the Indian Institute of Science (IISc) to fund select life sciences research projects led by IISc faculty, fostering further innovation in the field.

India’s healthcare sector has been leading the way in adopting emerging technologies, like blockchain and artificial intelligence (AI), to improve patient care, streamline operations, and strengthen data security. Despite these advancements, managing patient data securely and efficiently remains a significant hurdle. Blockchain technology presents a promising solution, providing a secure and transparent platform for data management that helps prevent breaches by creating an immutable record.

Moreover, blockchain can facilitate seamless data sharing between pharmaceutical companies and researchers, enhancing the development of new therapies and treatments.

In addition to strengthening data security, blockchain can facilitate seamless data exchange between pharmaceutical companies and researchers, accelerating the discovery of new therapies and treatments.

According to a report by PwC, the Bengal Chamber, and Medica Hospitals, “Globally, healthcare organisations have started reaping the benefits of blockchain technology in terms of its various applications, such as in health data management, health information exchange, provider credentialing and accreditation, and pharmaceutical supply chain management.”

“[The] Adoption of blockchain technology by the Indian healthcare industry will happen over a period of time as the effectiveness and sustainability of each use case are currently under research and development. At the same time, healthcare organisations need to undertake the necessary planning activities before entering into blockchain-based partnerships and programmes,” the report said.

India plans Bio-Artificial Intelligence hubs 

India recently introduced the BioE3 (Biotechnology for Economy, Employment, and Environment) Policy, marking a significant milestone for the local biotechnology sector and reinforcing its potential to shape the economy, employment landscape, and environmental sustainability in the years to come. 

The objective of the BioE3 Policy is to set forth a framework that ensures the adoption of cutting-edge advanced technologies and aligns innovative research to promote biomanufacturing.

Biomanufacturing is closely tied to healthcare, as it leverages living organisms like cells and microorganisms to produce therapeutic drugs, vaccines, and diagnostic tools. This process is crucial in developing modern medical treatments, including monoclonal antibodies, proteins, and cell-based therapies, and plays a vital role in advancing healthcare through personalized medicine and targeted treatments.

India’s BioE3 Policy aims to accelerate the development of technologies for bio-based products and their commercialization by setting up BioEnablers, including Bio-Artificial Intelligence (bio-AI) hubs, foundries, and biomanufacturing hubs across the country. 

Bio-AI hubs will be set up to augment research and innovation for developing technologies for bio-based products across the identified thematic sectors and subsectors of biomanufacturing by powering data-driven research and AI-informed predictive analytics. The bio-foundries and biomanufacturing hubs will focus on establishing infrastructure to scale up technologies for bio-based products. 

According to Science and Technology Minister Jitendra Singh, India is among the top six bio-manufacturers in the world and has one of the most cost-effective and efficacy-based biomanufacturing and healthcare destinations.

“Prime Minister Narendra Modi has a vision for a healthy India with the elimination of communicable diseases and reduction in non-communicable diseases, developing health indices and making steady progress,” Singh said last year.

Singh emphasized the critical role of technology in ensuring equitable access to healthcare.

“Technology is revolutionizing the healthcare sector, and the integration of artificial intelligence and machine learning tools can significantly enhance our capabilities. By leveraging technology, we can enhance efficiency, reduce wait times, and improve overall healthcare delivery,” Singh said.

Singh also shared that the biomanufacturing and biofoundry industries have experienced remarkable growth, expanding tenfold from $13 billion in 2014 to $130 billion in 2024.

“India supplies four out of every ten prescriptions filled in the United States, highlighting our pharmaceutical manufacturing capabilities,” Singh added.

Earlier this year, Singh said India currently accounts for 60% of global vaccine production and is home to the second-largest number of U.S. Food and Drug Administration (FDA)-approved manufacturing plants outside the U.S. With growing investment opportunities across sectors including biopharma, bioagri, bioindustrial, bioenergy, bioservices, and med-tech, India is emerging as a global leader in biotechnology.

India’s biotechnology sector is expected to reach $300 billion by 2030, expanding from a $130 billion industry in 2024.

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