In India, the biotechnology sector is one of the fastest-growing industries. The companies under top biotech startups in India is known for providing better diagnosis, high-quality drugs, and making the medicines and MedTec products available at a reasonable price. They aim at getting the best outcomes for developing health awareness and upgrading diagnosis facilities for betterment. With the developing technologies, the health care sector is also increasing their quality with the help of these top biotech startups in India.
Amid the pandemic, one of the industries that made a huge growth has to be the biotech. For the demand of a few prescribed medicines, that faced a steep growth. Apart from the prescribed ones, people were also flocking to get in touch with daily vitamins and other possible nutrients too. This has enabled the biotech startups in India to take off and flourish. So, let's get to know what are these biotech startups in India that are ranging in the top-list.
Founded in 1978, Biocon is one of the top biotech startups in India, started as a company that used to sell the enzyme papain. With a budget of Rs. 10,000, this company was founded in 1978. The focus of the company has changed in the 1990s by the founder of the company, Kiran Mazumdar-Shaw. As of now, their manufactured pharmaceutical ingredients are being sold in more than 120 countries throughout the world.
To make a change, she decided to shift from selling enzymes to selling biopharmaceuticals. Gradually she got enlisted among the richest women in India. The annual revenue of Biocon sums upto Rs. 4,709 crores in 2018. By 2020, they have also given access to more than 2.1 million patients through their biosimilars.
To come up with the solution to the problem of over-consumption of energies in India, this startup was shaped. Four IIT Madras graduates, Nelson Vadassery, Sailaja Nori, Sowmya Balendiran, and Sayash Kumar came forward with the help of their professor, Shrikumar Suryanarayan. They together founded the startup in 2010 and currently it is dwelling in the top biotech startups in India. The primary aim of the startup is to convert photosynthetic biomass, for instance, plants and algae to fuels.
It enables these elements to work into battling against the unending commercial use of energy. It is funded by the Department of Biotechnology and is incubated at the Centre for Cellular and Molecular Platforms (C-Camp). The startup incorporated a few patented techniques in order to facilitate the large scale cultivation of selected sea plants. The Government of Karnataka has given to the company, the title of "Emerging Company of the Year" in the year 2012.
Sam Santosh founded the startup, MedGenome, in 2013. It works at providing personalised genetic tests and medicines. It has its working genres scattered for a range of ailments, such as cancer, neurological ailments and diabetes. The largest next-gen sequencing lab in entire southeast Asia, MedGenome has its headquarter located in the USA as well as in India.
In funding the startup covered Rs 192 crore in 2017. In the following year, 2018, it bagged the MedTech Breakthrough Award for Biomedical Research. Currently, the startup has crossed the milestone of over 20,000 million for the first time as their annual revenue. It is leading globally in personalized medicine that provides unique genomic solutions. The areas of their conduct are mainly immuno-oncology, ophthalmology, diabetes, cardiology and a few other rare diseases.
One of the oldest startups from the list, Bharat Biotech was founded in the year 1996. The Hyderabad based company was founded by an well known Indian scientist, Krishna Ella. In India, it is the very first pharmaceutical startup that has successfully developed a generic drug.
It has achieved a huge milestone globally as they developed and received the patent the vaccine Zikavac. This one has been formulated to fight the prevailing Zika virus. The operating revenues of Bharat Biotech International Limited, generally range over INR 500 cr. It was the report recorded in the financial year ending on 31 March, 2010. The book net-worth of the company has faced a steep growth of 24.44 %.
The Bangalore based startup, GANIT Labs, has been founded in the year 2010 by Dr Vinay Panda and Dr Vijaya Chandru. The abbreviation GANIT Labs stands for Genomics Application and Information Technology Labs. As per the latest report my Zoominfo, the company has reached $3.8 million by 2019.
The primary aims of the company are to study genomes that are related to oral cancer. It also helps in mapping their respective genes. This company has been involved in manufacturing analytical equipment that will effectively analyse and manage genome data on a large scale. It is mainly from the genome sequencing of disease tissues such as cancer.
K. Chandrasekhar, the founder of Forus health, opened up one of the top biotech startup in India in 2010. The basic mantras of the company are being claimed as ‘Innovate’, ‘Implement’ and ‘Impact’. The company works to eliminate preventable blindness through an Ophthalmology device, which includes an intelligent pre-screening technique.
At present, the company operates in 14 other countries other than India. As of the financial year ending on 31 March 2019, operating revenues of Forus Health Private Limited has been displayed between INR 1 cr - 100 cr. However, as per the recent information given out by Zoominfo, the revenue has reached $5.7 million by this year.
So with the growth of these top biotech startups in India, the economy has also got a boost. As many of the above companies are actively participating in international transaction, the revenue can also possibly get a favourable development over the year. According to the reports, Indian BioEconomy is dwelling around $33.6 billion. It has been predicted to grow in size upto $100 billion by 2025. With over 2,600 top biotech startups in India, our country has also included 50 BIRAC-supported incubators as well.