Milestones are not just markers of time – they are reminders of journeys taken, challenges overcome, and visions pursued. As Raspa completes five remarkable years, we reflect not only on where we are today but also on the path that brought us here. As part of our fifth-anniversary celebrations, Saksham Charan engaged in a conversation with our CEO, Padmakshi Agarwal, who shared insights into Raspa’s early days, key challenges, and the vision shaping our future.

Saksham Charan: What central idea or motivation served as the foundation for Raspa’s inception?

Padmakshi Agarwal: From childhood, my parents hoped I would become a doctor. But early on, I realised that while medicine is a deeply noble profession, my true calling lay elsewhere — in developing the very drugs that doctors use to save lives. Among all therapeutic areas, cancer always struck a chord with me. Each year, nearly 18 million people are diagnosed with cancer and about 9 million lose their lives, placing the global survival rate at a distressing 50%. These numbers weighed heavily on me and fuelled my determination to find new ways to improve patient outcomes. This conviction guided my education and career in cancer research. Over time, I felt an even stronger pull — the desire to build something of my own. Through countless conversations with doctors and patients, I came face-to-face with a painful truth: life-saving oncology and immunology therapies exist, yet 99% of Indian patients simply cannot afford them. In many families, the cost of treatment can equal an entire decade of household income. This realisation marked the beginning of Raspa’s journey. It became our purpose and our mission: to make complex, advanced medicines more affordable and accessible for those who need them most. Though these drugs are technologically challenging to manufacture, we believed — and continue to believe — that strong research and innovation can overcome those barriers and significantly reduce costs. At Raspa, we remain firmly patient-centric, guided by a single question: How can we save more lives while reducing the financial burden on families?

Saksham Charan: What key challenges did you face during Raspa’s formative years?

Padmakshi Agarwal: When we started Raspa in August 2020, our earliest and most formidable challenge was the pandemic itself. Survival — both personally and as a company — was uncertain. With nationwide lockdowns in place, everything came to a halt: no meetings, no site visits, no incubation spaces. We had to build the foundation of Raspa entirely virtually, from engaging with stakeholders to evaluating potential incubation facilities. These constraints significantly impacted our timelines in the first two years because, unlike software startups, we could not operate solely from laptops. We needed laboratories, specialised equipment, and physical space. Once the second wave subsided and lockdowns were lifted, I vividly remember travelling across India — from Ahmedabad to Bengaluru to Hyderabad — in full PPE to assess potential locations for our R&D centre and future manufacturing site. Initially, we explored incubation options at prominent government institutions, including IITs and CSIR facilities. To our surprise, none of these renowned organisations had the necessary infrastructure, such as benchtop bioreactors or high-pressure chromatography systems. That was when we truly realised how limited biopharma infrastructure was in India. With no viable alternatives, we made the bold decision to build our own R&D facility from the ground up. It was a daunting prospect — after all, setting up a laboratory is typically something seasoned academic or industry professionals do after decades of experience, not two founders in their twenties. But we were ambitious — perhaps ambitiously bold — and we were determined to make it happen. The journey was anything but easy. Every step brought a new challenge, from arranging basic infrastructure like Wi-Fi, water, and electricity to identifying the right collaborators and, most importantly, assembling the right team. Yet, step by step, we persevered. Today, our R&D centre has been operating successfully for three years, powered by a talented and dedicated team. That challenging journey has shaped Raspa’s identity and strengthened our resolve — laying the foundation for everything we aspire to achieve.

Saksham Charan: What steps did you take to transform your idea into a tangible reality?

Padmakshi Agarwal: The turning point from idea to implementation came when we committed ourselves to rigorous market research to understand the problem statement in depth. For nearly two months, Ram and I immersed ourselves in every available data source, analysing trends, market gaps, and unmet patient needs. Through extensive conversations with doctors and patients, one insight became unmistakably clear: millions of people were unable to access life-saving drugs, and the barrier was not demand — it was technology. That was when we realised we could make a meaningful difference. The core challenge lay in manufacturing APIs (Active Pharmaceutical Ingredients, the building blocks of medicines) using microorganisms, which naturally produce only trace amounts of the desired compounds. However, with rapid advancements in biotechnology, we believed these limitations could be overcome. I have always held the conviction that nothing is truly impossible — what appears impossible is simply something humanity has not yet worked hard enough to achieve. I vividly remember a conversation with a CSIR director where we joked about transforming microorganisms into our “robotic workers,” producing exactly what we instruct them to. Today, that concept is no longer aspirational — it is a scientific reality. With modern tools that enable us to programme, control, and optimise cells, we can genuinely push the boundaries of what biology can accomplish. Our journey from concept to execution was ultimately about translating a bold vision into a practical, actionable roadmap. It evolved from a desire to help patients into a clear, achievable pathway to do so. As Bill Gates aptly said, “Vision without execution is daydreaming.” And that is why, step by step, we built Raspa with execution at its core — turning vision into reality every single day.

Saksham Charan: What personal and professional meaning does this five-year milestone hold for you?

Padmakshi Agarwal: Reaching the five-year milestone evokes a multitude of emotions — from feeling as though this journey began only yesterday to feeling as if we have lived a lifetime of experiences in a remarkably short span. Yet above all, what I feel most is profound gratitude. Gratitude for our exceptional team who believes deeply in our vision and works tirelessly to advance it. Gratitude for our board members, mentors, advisors, vendors, and all the stakeholders who placed their trust in us when Raspa was still just an idea. And lastly, heartfelt gratitude for my family — and for the families of our team members — who stand beside us and share the sacrifices this journey demands every single day. These five years have been nothing short of a roller-coaster, filled with highs, lows, and everything in between. But the truth is, I have always enjoyed roller-coasters. Every twist, turn, and challenge has been worth it, and I have valued every moment. As we look ahead, I feel even more energised and optimistic about the future. The next chapter for Raspa promises to be our most exciting yet.

Saksham Charan: What is your strategic vision for Raspa over the next five years?

Padmakshi Agarwal: The first five years were devoted to laying a strong foundation — building systems, establishing our R&D capabilities, and refining our processes. The next five years will focus on translating that groundwork into tangible, large-scale outcomes. Our vision is to become the first company in the world to establish an end-to-end continuous process for fermentation-based APIs, particularly in oncology and immunology. By doing so, we aim to reduce manufacturing costs by at least 50% and lower our carbon footprint by more than 30%, staying true to our commitment to sustainability. Above all, these innovations must translate into real benefits for patients. Patients remain at the centre of everything we do. Over the next five years, our goal is to move beyond laboratory success and bring our processes to full commercialisation — ensuring that life-saving medicines reach patients at prices they can afford. In essence, our path forward is clear: innovate, execute, commercialise, and create meaningful impact. The journey ahead will undoubtedly be challenging, but it is also incredibly exciting.