ARPA-H

The Advanced Research Projects Agency for Health (ARPA-H) is an agency within the United States Department of Health and Human Services.[1] Its mission is to "make pivotal investments in break-through technologies and broadly applicable platforms, capabilities, resources, and solutions that have the potential to transform important areas of medicine and health for the benefit of all patients and that cannot readily be accomplished through traditional research or commercial activity."[2].
ARPA-H was approved by Congress with the passing of H.R. 2471, the Consolidated Appropriations Act, 2022 and was signed into Public Law 117-103 by U.S. president Joe Biden on March 15, 2022.[3] 15 days later Health and Human Services Secretary Xavier Becerra announced that the agency will have access to the resources of the National Institutes of Health, but will answer to the U.S. Secretary of Health and Human Services.[4] The agency initially has a $1 billion budget to be used before fiscal year 2025 (October 2024) and the Biden administration has requested much more funding from Congress.
In December 2022, the Consolidated Appropriations Act, 2023 (Pub.L. 117–328) provided $1.5 billion for ARPA-H for fiscal year 2023. The Biden administration requested and received $2.5 billion for FY2024, and had spent $400 million in research grants by August 13, 2024. https://en.wikipedia.org/wiki/Advanced_Research_Projects_Agency_for_Health