Bioscience

Eli Lilly making renewed push in biotech field, where it once pioneered

August 16, 2014
J.K. Wall
Lilly expects to soon announce late-stage clinical trial results for two biotech drugs designed to slow the inflammation caused by autoimmune diseases. By the end of the year, it will announce results for a third.
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Report: Indiana boasts four nation-leading life sciences clusters

June 30, 2014
J.K. Wall
The areas around each of Indiana’s research university campuses—Bloomington, Indianapolis, Lafayette and South Bend—all boast outsize concentration of life sciences workers. Yet the state still lags on research, development and investment funding.
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Medtronic to acquire device maker Covidien for $42.9B

June 16, 2014
Bloomberg News
Medtronic Inc., the second-largest maker of medical devices, will be based in Ireland after the acquisition for tax advantages.
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Lab software firm raises $8.5M, names new CEO

June 9, 2014
Dan Human
A San Diego venture capital firm has made a big bet on Indigo BioSystems Inc., which just installed its founder as the new chief executive.
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Algaeon to take big step after landing $2.75M

May 12, 2014
Dan Human
An Indianapolis-based biotech company plans to use $2.75 million in new funding to begin commercial production of its algae-based nutritional supplements, the firm announced Monday.
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IU plots $200M life sciences hub in former Wishard Hospital

May 3, 2014
Dan Human
The envisioned 26-acre, $200-million-or-more complex would bridge IU’s School of Medicine with the city’s life sciences firms, including those at the nascent 16 Tech, a business park.
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Beck’s Hybrids prospers against far bigger firms

April 19, 2014
Andrea Muirragui Davis
When Lawrence and Francis Beck planted six acres of hybrid corn on their Hamilton County farm almost eight decades ago, the father and son sowed the seeds of a family business that’s still growing despite widespread industry consolidation.
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Purdue-based cancer imaging firm lands $15M in funding

March 11, 2014
J.K. Wall
OnTarget Laboratories LLC's technology was developed by Philip Low, a Purdue chemistry professor who also created the technology behind Endocyte Inc.
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Dow AgroSciences nears jackpot from genetic engineering

March 8, 2014
Dan Human
Dow AgroSciences LLC is spending millions of dollars and racking up hundreds of patents as its expands ever deeper in the burgeoning global market for genetically modified crops and pesticides.
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Funding drought pinches life sciences firms

January 11, 2014
J.K. Wall
Nationally, venture capital investments into life sciences firms totaled $4.9 billion during the first nine months of 2013, down 30 percent from the same period in 2008, according to data from Thomson Reuters and PricewaterhouseCoopers. In Indiana, life sciences firms raised $21 million during the first nine months of the year, far lower than any year since 2003.
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Analysts: Investors wrong to dump Endocyte

October 14, 2013
J.K. Wall
Investors on Friday dumped shares of West Lafayette-based Endocyte Inc. after an independent analysis said an experimental lung cancer drug is unlikely to be declared superior to existing chemotherapy. But two analysts say, to the contrary, the analysis shows the prospects for Endocyte’s drug are as good as ever.
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Auction lands $2.1 million for Elona Biotech assets

September 27, 2013
 IBJ Staff
Elona went into receivership in June after Greenwood officials filed a foreclosure lawsuit against the firm. The company failed after receiving more than $8 million in economic development incentives from the city over the past three years.
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PANEL: Life sciences will see radically different futureRestricted Content

May 17, 2013
IBJ convened a panel of experts at its Life Sciences Power Breakfast on May 10 to talk about the industry issues of venture capital, digital health innovations and research university entrepreneurship.

Panel members included Kristin Eilenberg, CEO, Lodestone Logic, Infuse Accelerator; Philip S. Low, Purdue University professor of chemistry, founder and chief science officer at Endocyte Inc. and On Target Laboratories LLC; R. Matthew Neff, president, CHV Capital Inc.; Brian Stemme, project director; BioCrossroads; Brian S. Williams, director, Global Healthcare Strategy, PricewaterhouseCoopers International Ltd.; and Raul Zaveleta, CEO, Indigo BioSystems Inc.

The following is an unedited transcript of the discussion.

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IU medical school's push to launch startups bears fruitRestricted Content

April 13, 2013
J.K. Wall
The Indiana University School of Medicine has launched 12 companies in the past 18 months—a burst of startup activity the school has never seen before.
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Health care startups hungry for fundsRestricted Content

February 2, 2013
J.K. Wall
Frustrated by up-and-down state funding for startup life sciences companies, industry leaders are talking up a plan to create a dedicated funding stream that could total $30 million a year.
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Zimmer's earnings slip, but beat expectations

January 31, 2013
 IBJ Staff
Fourth-quarter profit fell 2 percent at Zimmer Holdings Inc. due to large accounting charges, but still beat the estimates of Wall Street analysts.
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BioCrossroads seed fund makes first investments

January 10, 2013
Local startups Esanex Inc. and Algaeon Inc. have received $500,000 and $250,000, respectively, from Indiana Seed Fund II, BioCrossroads' second fund to help fledgling life sciences companies.
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Nico raises $6.5 million more from existing investors

December 4, 2012
J.K. Wall
Indianapolis-based Nico Corp. wants to use its new round of capital to develop brain surgery products to address diseases that were often considered inoperable, such as metastatic brain cancer and intracerebral hemorrhages.
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BioCrossroads has stoked state's life sciences industry, but challenges remainRestricted Content

February 11, 2012
J.K. Wall
In the 10 years BioCrossroads has been promoting life sciences in Indiana, the effort has netted more than 330 new companies, an infusion of more than $330 million in venture capital, a tripling of exports, and a growing number of mentions in national reports on life sciences.
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Dow Agro posts record fourth quarter profit

February 2, 2012
 IBJ Staff and Associated Press
The Indianapolis-based unit of Dow Chemical Co. saw earnings grow to $142 million, a fourth-quarter record and double the $72 million reported for the 2010 period.
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BioCrossroads seeds upstart medical device maker

October 20, 2011
Chris O'Malley
BioCrossroads’ Indiana Seed Fund has invested $300,000 in a startup company chaired by a former Eli Lilly and Co. executive developing an absorbable stent.
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Ex-Dow Agro scientist makes plea in trade-secret case

September 15, 2011
Associated Press
A former Indiana scientist has agreed to plead guilty to charges of illegally sending trade secrets worth $300 million to China and Germany.
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Medical implant maker plans move from northern Indiana

August 4, 2011
Associated Press
Rochester Medical Implants plans to move operations from Rochester to Noblesville in October. The company has 28 employees.
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More life sciences firms opt to launch products in EuropeRestricted Content

July 30, 2011
Maria LaMagna
The U.S. Food and Drug Administration's growing reputation for unpredictability is spurring some Indianapolis companies to join counterparts elsewhere and introduce products in Europe. The upshot is that some Americans may never benefit from innovations occurring in their backyards.
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Indiana life sciences leaders look toward the futureRestricted Content

July 30, 2011
Chris O'Malley
Former Eli Lilly and Co. vice president Richard Dimarchi, BioCrossroads President David Johnson, angel investor Oscar Moralez and Purdue University Senior Vice President Alan Rebar discuss issues ranging from the depth of the life sciences industry in Indiana to venture capital and Purdue's Discovery Park.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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