BioCrossroads chooses retired Lilly exec as new CEO

A retired Eli Lilly and Co. executive has been chosen as the new president and CEO of BioCrossroads,  an Indianapolis-based group that promotes and invests in the state's life sciences sector.

Patricia Martin, 58, will begin her new job on July 1, the organization said Wednesday.

“I’ve always been a big fan of BioCrossroads,” she told IBJ. “I have admired it for a long time.”

Patricia Martin

Martin worked at Lilly for 26 years in numerous capacities, including chief operating officer of Lilly Diabetes, chief diversity officer and chief alliance officer. She retired from the Indianapolis-based drugmaker two years ago.

During her leadership at Lilly Diabetes, the division launched six products in 18 months, increasing annual sales from $6 billion to $8 billion.

BioCrossroads said it chose Martin after conducting a national search. The organization declined to say how many people applied or how many were interviewed.

“Patty understands how advancements in science can benefit the lives of millions of people around the world, and her long list of accomplishments demonstrates that fact,” Darren Carroll, BioCrossroads’ board chair and senior vice president of corporate development at Lilly, said in a written statement.

Martin will succeed David Johnson, who stepped down in December to become full-time leader of BioCrossroads’ parent organization, the Central Indiana Corporate Partnership. Johnson, who had led BioCrossroads for 14 years and was named head of CICP in 2012,  had led both organization in shared capacities since that time.

BioCrossroads, formed 17 years ago, is a public-private partnership that supports the region’s life sciences research and encourages new business development in the sector.

“My goal is to promote Indiana as a great space for the life sciences sector, and to grow it,” Martin said.

Martin earned a bachelor’s degree in accounting from Indiana University and an MBA from Harvard Business School. She is a member of the Women’s Philanthropy Leadership Council and was board chair for the 500 Festival in 2016.