IBJNews

BioCrossroads seed fund makes first investments

Back to TopCommentsE-mailPrintBookmark and Share

BioCrossroads Inc. announced Thursday morning that its newest seed fund has made its first two investments.

Indianapolis startups Esanex Inc. and Algaeon Inc. received $500,000 and $250,000, respectively, from Indiana Seed Fund II.

Esanex is developing a therapy that inhibits the ability of cancer cells to grow and survive. The investment will be used to complete a Phase 1 study in patients with tumors and to conduct multiple Phase 2 trials.

Esanex is part of the portfolio of Lilly Ventures, the venture capital firm spun out of Eli Lilly and Co. in 2009.

Algaeon developed patent-pending technology used to make micro-algae-based products used in human supplements and in animal and fish-feed stocks. The company will use the investment to expand operations and produce additional products.

Algaeon is located on the northwest side on West 82nd Street.

BioCrossroads, the Indianapolis-based life sciences development group, launched Indiana Seed Fund II in April after raising $8.25 million to help fledgling life sciences companies grow.

Its first seed fund raised $6 million that was invested in 11 companies.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

ADVERTISEMENT