In one of the sessions at Scale-Up Health, an Eight Roads Ventures initiative, industry experts identified- absence of early-stage clinical trial infrastructure, limited translational research from universities, and shallow capital pools as a major gaps in India’s biotech boom.
A panel on “Breakthrough Bharat: Is India Ready for the Biotech Frontline” brought together industry veterans and investors to reflect on the road ahead. The discussion featured Dr. Sadhna Joglekar, Senior Vice President & Head of Global Drug Development India at Novartis, who highlighted India’s strengths in late-phase clinical research but flagged the absence of early-phase capacity; Arjun Surya, CEO of Curadev, who stressed the importance of experiential learning and small, high-energy teams to drive discovery; and Robert Weisskoff, Senior Partner at F-Prime, who underscored the need for patient capital and government intent to fuel biotech innovation.
Surya, noted that discovery efforts in the late 1990s often faltered not because of lack of ambition, but because the supporting ecosystem was missing. He argued that true innovation rarely comes from sprawling labs with thousands of researchers; instead, it flourishes in small, agile teams where energy and focus are high. The challenge, he stressed, is creating an environment where clinicians and scientists gain the experiential learning necessary to lead, particularly in areas like first-in-human trials.
Dr. Joglekar, underlined how India has built credibility in large-scale, late-phase studies, supported by trained investigators, regulators, and CROs. Yet, she pointed out, the country continues to lag in first-in-human and proof-of-concept trials. Without more Phase 1 centers and stronger mentorship from experienced clinicians, this gap will persist.
The weakness, she argued, also extends to academia. She added, “While institutes like IISc and IITs, and incubators such as C-CAMP, are nurturing innovation, most universities still lack the incentives or structures to drive translational research. Unlike the West, where universities often spin out startups, Indian faculty are rewarded more for publishing papers than for building therapies. This, in turn, limits the pipeline of ideas that can move from labs to markets.”
Sharing an investor’s perspective, Weiskoff compared India’s situation with China’s trajectory. He said, “In China, government acceptance of high-priced drugs created market incentives that fueled local innovation, while public funding, regulatory reforms, and diaspora engagement built a robust ecosystem. India, by contrast, resembles Japan, where low pricing and limited capital pools have slowed biotech’s growth despite strong academic research.”
Weisskoff argued that India will need both policy intent and capital depth to change course. Programs like Japan’s AMED which match government funds with private investment to de-risk early bets could provide a template. Without such signals, investors are unlikely to back the inherently risky early-stage trials that are essential to biotech innovation.
