GeniPhys builds momentum with wound care technology
After 10 long years, the company that has developed a collagen biomaterial to help heal tissue is readying itself for its next big steps: regulatory approval and commercial launch.
Life Science & Biotech
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California-based med tech company to relocate to Westfield
PhysioLogic Devices Inc. will change its name to Portal Diabetes Inc. following the company’s move. It plans to employ up to 35 full-time employees by 2028 with an average salary of $135,265 each.
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Cook Group to sell West Lafayette-based biotech subsidiary to Florida company
Cook Biotech employs 275 people, all of whom will transition to RTI Surgical once the deal closes.
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Lilly’s soaring stock, Fishers’ innovation park among top 10 life sciences stories of 2023
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.
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Indianapolis-based life sciences research firm Pearl Pathways acquired by Versiti
The acquisition is the second in central Indiana this year for Versiti, a not-for-profit specializing in blood-health services.
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Articles
Carmel-based MBX Biosciences shares jump 48% in Nasdaq debut
The five-year-old company is developing treatments for endocrine and metabolic disorders, such as hypoparathyroidism, post-bariatric hypoglycemia and obesity. Its positive reception on Wall Street was seen as an extension of the general enthusiasm for obesity treatments.
Fast-growing MBX Biosciences raises another $63.5 million in funding
MBX is focused on the discovery and development of novel precision peptide therapies for the treatment of endocrine and metabolic disorders, such as hypoparathyroidism, post-bariatric hypoglycemia and obesity.
AgriNovus report details agbioscience sector growth opportunities
The AgriNovus Indiana report quantifies agbiosciences as contributing $22.7 billion to the state’s gross domestic product. It also identifies several key areas of opportunity for growth in this sector.
OneHealth designation could drive innovation in Elanco/Purdue space
State and corporate leaders believe a tech park taking shape on the western edge of downtown could be a launchpad for health sciences innovation and commercialization as part of the state’s ambitious economic development portfolio.
Stevanato commits to paying Fishers employees a living wage
Stevanato, an Italian-based life sciences company that makes glass vials and syringes for pharmaceuticals, has committed to paying employees at its new Fishers facility no less than $70,000 annually.
Indiana’s Heartland BioWorks Hub to receive $51M in CHIPS Act funding
Indiana’s Heartland BioWorks Hub was one of 12 hubs chosen to split $500 million in implementation funding stemming from the CHIPS and Science Act.
Indiana life sciences companies raised $5.5B in 2023, new report says
A report issued Monday by BioCrossroads says Indiana life sciences companies saw a decrease in capital and investments last year, but made a significantly higher contribution to the state’s economy than they did the previous year.
NICO Corp. gets big neurosurgery win, ponders company’s future
Indianapolis-based NICO recently wrapped up a large clinical trial that tested the company’s minimally invasive tools and technology for brain surgery in patients with hemorrhagic stroke. Now it faces a major decision.
Elanco reaches agreement with activist investor, avoiding messy proxy fight
The Greenfield-based maker of animal vaccines, antibiotics and other health products said that as part of the agreement with Ancora Holding Inc., it will appoint two new independent directors supported by the investment firm to its board.
Elanco to cut 420 jobs in restructuring that will focus on pet health
The company said the restructuring is designed to shift resources from its farm animal operations to its pet health operations and help with the launch of three upcoming products now under regulatory review.
FDA warns against smartwatches, rings that claim to measure blood sugar without needles
About 37 million American have diabetes, which requires close monitoring of blood sugar levels. A doctor said using the unapproved devices could result in inaccurate blood sugar measurements, with potentially devastating consequences.
Inari raises another $103M for gene-editing technology, but legal dispute looms with Corteva
The Boston-based biotech company with large operations in Indiana has raised more than a half-billion dollars over its eight-year history.
Elanco to sell aqua business to Merck for $1.3B
Elanco Animal Health said it has agreed to sell its aqua business to Merck Animal Health, a move that allows it to pay down some of its debt load and invest in new pipeline products.
BioCrossroads names Vince Wong as new CEO of Indy life sciences group
Wong’s appointment comes just a few weeks after BioCrossroads released a report warning that Indiana’s life-science sector is starting to lag the nation in growth and market share and will require a focused effort to stay competitive.
Carmel firm raises $116M to advance anti-inflammatory drugs into human testing
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.
Baxter sells Bloomington plant with 1,000 workers to private investors
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.
Lilly to build $2.5B factory in Germany for injectable drugs
The announcement represents the company’s latest move to meet the soaring demand for its medicines for diabetes and weight loss.
Carmel sanitizing device maker 3Oe Scientific files for bankruptcy
The business makes a hand-sanitizing device called Iggy that kills pathogens with ozone-infused water instead of soap or other chemicals.
Life science boosters hail Indiana’s designation as federal technology hub
The federal designation marks Indiana as a hub for biologics manufacturing. Biologics are medicines derived from biological sources and include vaccines, monoclonal antibodies, and immune modulators.