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 Biotech employs 275 people, all of whom will transition to RTI Surgical once the deal closes.
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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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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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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.
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.
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.
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, 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 was one of 12 hubs chosen to split $500 million in implementation funding stemming from the CHIPS and Science Act.
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.
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.
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.
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.
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.
The Boston-based biotech company with large operations in Indiana has raised more than a half-billion dollars over its eight-year history.
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.
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.
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.
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.
The business makes a hand-sanitizing device called Iggy that kills pathogens with ozone-infused water instead of soap or other chemicals.
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.
The technology hub designation makes Indiana eligible to compete against 30 other designated hubs in hopes of landing up to $70 million in federal funding to implement its program.
