The Indiana Biosciences Research Institute, set up just three years ago, announced Wednesday morning that it has been awarded grants of $80 million from the Lilly Endowment and $20 million from the Eli Lilly and Co. Foundation.
City leaders want to make the 60-acre tract of land just north of the Indiana University School of Medicine campus a mix of all of the best the city has to offer and catch the eyes of more creative and highly sought-after workers.
The Central Indiana Corporate Partnership wants the city to improve streets, walkways and other infrastructure around the 170-acre project north of the IUPUI campus, designed to attract high-tech businesses and workers.
Michael A. Byers’ Tooth Bank is one of a tiny group of U.S. companies catering to the latest iteration of stem cell therapy: harvesting stem cells from the pulp inside baby teeth and extracted wisdom teeth, then culturing, freezing and storing them at a cryostorage facility for later use.
With a CEO hired and a soon-to-be signed lease for office space, the $360 million Indiana Biosciences Research Institute is ready to lift off.
Indianapolis-based chemical producer Vertellus Specialties Inc. has announced its second big acquisition in as many months, in a deal believed to be worth as much as $200 million.
Lilly expects to soon announce late-stage clinical trial results for two biotech drugs designed to slow the inflammation caused by autoimmune diseases. By the end of the year, it will announce results for a third.
The areas around each of Indiana’s research university campuses—Bloomington, Indianapolis, Lafayette and South Bend—all boast outsize concentration of life sciences workers. Yet the state still lags on research, development and investment funding.
Medtronic Inc., the second-largest maker of medical devices, will be based in Ireland after the acquisition for tax advantages.
A San Diego venture capital firm has made a big bet on Indigo BioSystems Inc., which just installed its founder as the new chief executive.
An Indianapolis-based biotech company plans to use $2.75 million in new funding to begin commercial production of its algae-based nutritional supplements, the firm announced Monday.
The envisioned 26-acre, $200-million-or-more complex would bridge IU’s School of Medicine with the city’s life sciences firms, including those at the nascent 16 Tech, a business park.
When Lawrence and Francis Beck planted six acres of hybrid corn on their Hamilton County farm almost eight decades ago, the father and son sowed the seeds of a family business that’s still growing despite widespread industry consolidation.
OnTarget Laboratories LLC’s technology was developed by Philip Low, a Purdue chemistry professor who also created the technology behind Endocyte Inc.
Dow AgroSciences LLC is spending millions of dollars and racking up hundreds of patents as its expands ever deeper in the burgeoning global market for genetically modified crops and pesticides.
Nationally, venture capital investments into life sciences firms totaled $4.9 billion during the first nine months of 2013, down 30 percent from the same period in 2008, according to data from Thomson Reuters and PricewaterhouseCoopers. In Indiana, life sciences firms raised $21 million during the first nine months of the year, far lower than any year since 2003.
Investors on Friday dumped shares of West Lafayette-based Endocyte Inc. after an independent analysis said an experimental lung cancer drug is unlikely to be declared superior to existing chemotherapy. But two analysts say, to the contrary, the analysis shows the prospects for Endocyte’s drug are as good as ever.
Elona went into receivership in June after Greenwood officials filed a foreclosure lawsuit against the firm. The company failed after receiving more than $8 million in economic development incentives from the city over the past three years.
IBJ convened a panel of experts at its Life Sciences Power Breakfast on May 10 to talk about the industry issues of venture capital, digital health innovations and research university entrepreneurship.
Panel members included Kristin Eilenberg, CEO, Lodestone Logic, Infuse Accelerator; Philip S. Low, Purdue University professor of chemistry, founder and chief science officer at Endocyte Inc. and On Target Laboratories LLC; R. Matthew Neff, president, CHV Capital Inc.; Brian Stemme, project director; BioCrossroads; Brian S. Williams, director, Global Healthcare Strategy, PricewaterhouseCoopers International Ltd.; and Raul Zaveleta, CEO, Indigo BioSystems Inc.
The following is an unedited transcript of the discussion.
The Indiana University School of Medicine has launched 12 companies in the past 18 months—a burst of startup activity the school has never seen before.
