IBJNews

Lilly Endowment to give $10M to start biosciences institute

Back to TopCommentsE-mailPrintBookmark and Share

The Lilly Endowment will give $10 million to help start the Indiana Biosciences Institute, the Indianapolis-based philanthropy organization announced Thursday morning.

The institute is already due to receive $25 million in startup funds from the state. The institute aims to attract 100 new scientists to Indiana to conduct research and development work aimed at launching new therapies for metabolic diseases.

The effort has been spearheaded by BioCrossroads, an Indianapolis-based life sciences organization, and has received significant support from Gov. Mike Pence and John Lechleiter, the CEO of Eli Lilly and Co.

“Lilly Endowment is very concerned about the need for more attractive, high-wage jobs for Indiana’s college graduates,” said Clay Robbins, president of the endowment, as he announced the gift Thursday morning at a BioCrossroads event.

The institute needs to raise about $15 million over the next year or so to fully fund its startup efforts.

Beyond that, the institute hopes to raise an endowment of about $310 million to help fund its operations. It also hopes its researchers attract steady grants from life sciences research companies, such as Indianapolis-based Lilly and Bloomington-based Cook Group Inc.

“It gives us really powerful momentum and energy to move ahead with the institute,” said David Johnson, CEO of BioCrossroads, after Robbins announced the Lilly Endowment gift.
 

ADVERTISEMENT

  • Is there a business model?
    The Lilly Endowment gift is a start but how much does IBRI need for startup costs and to place it on the road to sustainability? What is the Institute's business model and is it viable?

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. Thank you to the scientists who care enough to find a cure. We are so lucky that their intelligence has brought them to these understandings because it is through these understandings that we have new hope. Certainly the medicine will be expensive, these drugs usually are, especially the ones that are not mass produced. If I know anything from the walks that my town has put on for FA it is this: people care and people want to help. Donations and financial support can and will come to those who need it. All we need is a cure, the money will come. I mean, look at what these scientists have done thanks to the generosity of donors. 30 million dollars brings us here where we can talk about a drug's existence! There is so much to be frustrated about in this world, but this scientific break is not one of them. I am so happy for this new found hope. Thank you so much to the scientists who have been slaving away to help my friends with FA. We wish you speedy success in the time to come!

  2. I love tiny neighborhood bars-- when I travel city to city for work, it's my preference to find them. However, too many still having smoking inside. So I'm limited to bars in the cities that have smoking bans. I travel to Kokomo often, and I can promise, I'll be one of those people who visit the ma and pa bars once they're smoke free!

  3. I believe the issue with keystone & 96th was due to running out of funds though there were other factors. I just hope that a similar situation does not befall ST RD 37 where only half of the overhaul gets built.

  4. It's so great to see a country founded on freedom uphold the freedom for all people to work and patronize a public venue without risking their health! People do not go to bars to smoke, they can take it outside.

  5. So, Hurko, mass transit has not proven itself in Indy so we should build incredibly expensive train lines? How would that fix the lack of demand? And as far as those double decker buses to bus people in from suburbs, we can't fill up a regular sized buses now and have had to cancel lines and greatly subsidize others. No need for double decker buses there.

ADVERTISEMENT