The study on lichen species and its ecology helped to prove that the use lichen species composition and density as a potential indicator to assess the health of the ecosystem in certain forest types of Western Ghats. Lichens are a rich resource of pharmaceutically important secondary compounds like polyketides with high pharmaceutical relevance and drug prospecting odds. The bioprospecting work resulted in screening diverse medicinal plants and Lichens. MSSRF is collaborating with Tuberculosis and Cancer Research Institutes and has identified molecules with anticancer and anti Mycobacterium tuberculosis properties. Currently the MSSRF Lichen Lab holds cultures of 120 lichen species known to produce rich secondary compound for further exploration.