UPDATE: IU lands $138M grant from Lilly Endowment to fund new biosciences accelerator

Indiana University has landed a $138 million grant from the Lilly Endowment that will fund construction of a state-of-the-art facility to drive advancements and commercialization in biosciences and develop talent in the sector.

IU announced the gift Thursday morning, calling it the largest grant it has ever received in support of research and development. The grant from Indianapolis-based Lilly Endowment is to the IU Foundation.

The money will help establish what the university is naming the IU Launch Accelerator for Biosciences, known as the IU LAB, which will be based at the 16 Tech Innovation District.

The IU LAB will be housed in a six-floor, 150,000-gross-square-foot facility that is expected to open in 2027 and will serve as IU’s permanent home in the 16 Tech Innovation District.

The university said the initiative will enhance Indianapolis’ growing human health innovation sector, and will collaborate with the IU School of Medicine, 16 Tech, Central Indiana Corporate Partnership, BioCrossroads, Indiana Biosciences Research Institute, Regenstrief Institute and Indiana University Health.

The IU LAB will build on IU’s $250 million investment, announced in 2023, to position the university as a global leader in life sciences and biotechnology innovation. It will be critical in meeting ambitious goals outlined in the IU 2030 strategic plan.

“Indiana University is launching an initiative so transformative that it will change the very landscape of our capital city and state,” IU President Pamela Whitten said in written remarks. “Lilly Endowment’s extraordinary investment in IU LAB will enable IU to turn this bold vision into reality.”

She said the facility will empower IU LAB to facilitate academic-industry partnerships that will drive discovery, innovation and the commercialization of new therapeutics, diagnostics and devices that will improve human health in Indiana and beyond, as well as help develop the education and training opportunities to the next generation of life and bioscience leaders.

“This plan will create ground zero for academic-industry partnerships in this field that are really going to drive discovery and commercialization,” she told IBJ.

Whitten compared the various components of the IU LAB to an elevator ride in a six-story building, where one component builds upon another, starting with academic programs.

The IU LAB will consist of six components:

• An Academic Gateway that will host new degree programs and offer advanced courses and credentials for students and current professionals that will address Indiana’s workforce needs to attract new businesses to the state. state. It will also include a space for high school students from around the region to expose them to all the wonderful opportunities in the life sciences. “There will be students and faculty coursing throughout this building and participating in all levels, which sets it apart from a lot of initiatives that you see in the country that have similar goals,” Whitten told IBJ.
• A Futures Center that will help students and professionals apply their knowledge to real-world issues and engage with experts in various studios focused on specific technologies, such as augmented and virtual reality, and exploration of real-world problems in fields such as artificial intelligence, machine learning, biomedical engineering, robotics, and sports and human performance.
• An IU Innovates Bio Start-Up Center that will support IU entrepreneurs launching companies, products and services with training, incubation and networking. It will also include the LifeTech Accelerator program, which will recruit and retain new health and medical technology companies for Indiana and provide additional support to help accelerate the growth of new companies.
• A Public-Private Partnerships Center will host local, state and national collaborations with faculty and industry representatives to pursue novel scientific inquiries; commercialize new products; and facilitate industry engagement with researchers and students.
• A Joint Center of Excellence for Point of Care Precision Medicine will advance collaborative research between IU, the Indiana Biosciences Research Institute, IU Health, Eli Lilly and Co., the Central Indiana Corporate Partnership and other partners.
• A Translational Bio Center will offer state-of-the-art facilities for companies and entrepreneurs in the life sciences to test their discoveries and perform key translational activities through in vitro and in vivo screening and preclinical studies.

Melina Kennedy, CEO of Central Indiana Corporate Partnership said IU LAB would open a new chapter into the region’s investment in biosciences.

“As we position our regional economy for the future, IU LAB will be at the core of an approach that distinguishes Central Indiana as a global leader in human health,” she said in written remarks.

Todd Huston, speaker of the Indiana House of Representatives, said it would help grow the talent pipeline in the state.

“I’m encouraged to see Indiana University and industry partners coming together to provide world-class opportunities for our students,” he said in written remarks. “IU LAB will help expose graduates to innovative career paths within our state and keep more of our college talent in Indiana.”

Dr. Jay Hess, dean of the IU School of Medicine, said the lab would help it translate innovation and research to improve patient outcomes through advanced clinical trials, entrepreneurship and commercialization.

“The school has long had fruitful collaborations with the key partners and is thrilled that IU LAB will be a force to accelerate our collective progress,” he said in written remarks.

IU said it will work to strengthen Indiana’s life sciences ecosystem by accelerating innovation and discovery within human health, commercializing products, attracting new industry to Indianapolis, developing and connecting talent to opportunities, and expanding the life and bioscience industry presence through IU LAB at 16 Tech.

IU LAB will also serve as an access point for residents of 16 Tech’s neighboring communities to learn more about careers in biosciences industries. The initiative will provide opportunities for youth to participate in educational programs and learn how to enroll in related degree programs.

The facility will also participate in 16 Tech’s Community Investment Fund, which provides grants to support opportunity and revitalization of neighborhoods near the 16 Tech Innovation District.

“One of the big goals that Indiana University has,” Whitten said, “is that we want to see Indianapolis become the nation’s hub for all things life science and life science development.