The Central Bank of Nigeria has issued the guideline for accessing the Healthcare Sector Research and Development Intervention Scheme (HSRDIS) grant.
The grant, which is part of the apex bank’s policy response to the COVID-19 pandemic, is designed to help strengthen the public healthcare system with innovative financing of research and development (R&D) in new and improved drugs, vaccines, and diagnostics of infectious diseases in Nigeria.
The guideline was published on the CBN’s website on Tuesday.
Why it matters: HSRDIS is designed to trigger intense national R&D activities to develop a Nigerian vaccine, drugs and herbal medicines against the spread of COVID-19 and any other communicable or non-communicable diseases. This would be done through the provision of grants to biotechnological and pharmaceutical companies, institutions, researchers, and research institutes.
Who is eligible: Activities eligible for consideration under the Scheme shall include:
- Research and development of candidate drugs, herbal medicines, and vaccines validated by relevant health authorities for the control, prevention and treatment of infectious diseases.
- Manufacturing of drugs, herbal medicines and vaccines validated by relevant health authorities for the control, prevention and treatment of infectious diseases.
- Red biotechnological R&D in new health technology for the control, prevention and treatment of infectious diseases.
- The research partnership between academia and industry into the development of drugs and vaccines for the control, prevention and treatment of infectious diseases.
- Research and development into validated phytomedicines for the control, prevention and treatment of infectious diseases.
Important Notice: Candidate vaccines undergoing pre-clinical testing or trials shall not be eligible for consideration under this Scheme. However, candidate vaccines 4 Classified as Confidential undergoing clinical testing or trials shall be eligible for consideration under the Scheme if considered to have high potential to cross the clinical trial stage and prospects of scale by the Body of Experts (BoE).
Who funds the grant: The Scheme shall be funded from the Developmental Component of the Micro, Small and Medium Enterprise Development Fund (MSMEDF).
- Research activities: Maximum of N50.0 million.
- Development/Manufacturing activities: Maximum of N500.0 million.
NOTE: Disbursement under the Scheme shall be made to beneficiaries in tranches, subject to approved milestones achieved.
Research and Development Timeframe
- research activities: Not more than two (2) years from the date of release of fund.
- Development/Manufacturing activities: Not more than one (1) year from the date of release of fund.
Read the full guidelines here.