Thirty-four Indiana companies landed $287 million in venture capital in 2023 to help finance a wide array of technologies, from medical isotopes to stem-cell therapies, according to BioCrossroads, an Indianapolis-based group that promotes and invests in the state’s life sciences sector and tracks the funding.
Cook Biotech employs 275 people, all of whom will transition to RTI Surgical once the deal closes.
Indiana’s pharmaceutical and medical device sectors, long touted as major contributors to the state’s economy, are starting to lag the nation in growth and market share and will require a focused effort to stay competitive, according to a new report released Monday.
David Ricks led Eli Lilly and Co. to milestone after milestone in 2023, with a slew of product launches for diseases from obesity to inflammatory bowel disease. And when Lilly wasn’t scoring wins in the laboratory, it was issuing a series of head-turning announcements,
It was a busy year for the Indiana life sciences community, with a flurry of billion-dollar deals, major announcements, and a few setbacks. Here we present the top 10 stories of 2023—the good, the bad and the ugly—about an industry that is often hailed as a key driver of Indiana’s economy.
The investment in Sudo Biosciences, a three-year-old Carmel biotech, is one of the largest in recent years for an Indiana-based science startup, a signal that investors are attracted by its work on a class of drugs to treat autoimmune and inflammatory diseases.
Results of a clinical trial for Point Biopharma’s lead compound fell short of analysts’ expectations, and that development is likely to pressure its investors to decide whether to agree to sell the company to Eli Lilly and Co. for $1.4 billion.
VillageMD, a subsidiary of Chicago-based pharmacy giant Walgreens Boots Alliance, is closing more than 60 primary care clinics in five markets, including nine practices in northern Indiana and four in central Indiana.
The new drug, called Zepbound, carries a hefty price of $1,059.87 per month, and insurers and health care plans are balking, questioning its affordability. Many employers and government health programs exclude obesity treatments from their coverage.
In March, Eskenazi Health launched a fundraising campaign to help it move the needle on health disparities. As of last month, its foundation had raised $57 million.
The live-work-play campus has been picked to join a new national network designed to connect researchers, entrepreneurs and investors to accelerate the development of health care products and services and speed up health care innovations.
The Bloomington plant, with about 1,000 employees, is the fifth-largest employer in Monroe County, according to the Greater Bloomington Chamber of Commerce, and is poised for more growth.
The announcement represents the company’s latest move to meet the soaring demand for its medicines for diabetes and weight loss.
Consumer advocates and other across the country and in central Indiana are saying big executive-compensation packages are ripe for review.
Excluding nonrecurring items, the Indianapolis-based drugmaker posted adjusted earnings of 10 cents a share, beating Zacks consensus estimate of a loss of 11 cents a share.
IU’s newest plans are intended to bolster enrollment and establish Indiana University Indianapolis as one of the country’s premier urban research universities.
Syra Health Corp., a Carmel-based health care services company, raised $5.3 million after expenses in its initial public offering. But it faces a slew of challenges, from winning new customers to launching products and services quickly to stem losses.
Eli Lilly and Co. is paying Indianapolis-based startup Point Biopharma $12.50 a share, an 85% premium over the company’s closing price on Monday of $6.68 a share.
During the last nine years, the cumulative amount of AI investments across the pharma and biotech sectors has increased by almost thirtyfold, to $24.6 billion as of last December.
Orthodontic Details says its customers might not realize the extent to which artificial intelligence is integrated into the company’s platform, but the technology is having a profound impact on their office operations.
