Life Science & Biotech

Pence wants $1.5M a year for life sciences institute

January 21, 2013
J.K. Wall
The Indiana Applied Research Enterprise already has received support from John Lechleiter, CEO of Indianapolis-based Eli Lilly and Co., as a place for collaboration between academic and industrial scientists.
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Former state ag director joins Dow AgroSciences

January 21, 2013
Joseph Kelsay, who had served as director of Indiana's Department of Agriculture since 2009, is joining Dow AgroSciences' government affairs team as senior manager of biotechnology affairs.
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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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IEDC seeks $30M fund to stoke life sciences firmsRestricted Content

December 15, 2012
Kathleen McLaughlin
The Indiana Economic Development Corp. is looking to renew its commitment to life sciences by creating a $30 million venture fund. The amount dedicated to one sector would be equal to the state’s allocation for all high-tech startups over the past two years.
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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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Cancer treatment firm adding 27 jobs in Indianapolis

December 3, 2012
J.K. Wall
A North Carolina-based maker of cancer-fighting ultrasound machines plans to create 27 jobs paying an average of $36 an hour at its Indianapolis facility over the next three years.
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VC funds hope to help early-stage life sciences firmsRestricted Content

December 1, 2012
J.K. Wall
Early-stage venture capital has been harder and harder to come by for life sciences companies in recent years, but two Indianapolis investors are working to raise sizable funds to help fill the gap.
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Cook wins approval for new stent

November 19, 2012
J.K. Wall
Bloomington-based Cook Medical won approval for the first drug-coated stent for clogged leg arteries in the United States, which accounts for 40 percent of the soon-to-be $3 billion market.
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Indy loses promising health startup

November 12, 2012
J.K. Wall
LabDoor, which soon will launch an iPhone app that assigns A-F grades to over-the-counter vitamins and medicines, moved last month from Indianapolis to San Francisco, where it received $100,000 in startup financing.
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Local scientific software firm plans to add 63 jobs

November 12, 2012
Scott Olson
Indianapolis-based Indigo Biosystems Inc., a scientific software provider, announced Monday morning that it plans to add 63 jobs by 2015 as part of a $1.4 million expansion.
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Life sciences finance pro heading to startupRestricted Content

November 10, 2012
Chris O'Malley
If a biotech startup were akin to a rock band, Kristin Sherman might be the keyboardist. She’s not front-and-center on the stage, but the ballad wouldn’t be as dynamic without her pounding the chords.
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Community to commercialize innovations

November 5, 2012
J.K. Wall
Community Health Network thinks it can help patients, engage doctors and maybe even make some money by trying to turn ideas within its organization into commercial products, service and companies.
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Life sciences logistics firm plans to add 108 workers

November 5, 2012
Scott Olson
Indianapolis-based BioStorage Technologies Inc. is planning to add 108 jobs in the next five years as part of a $7 million expansion and is seeking financial incentives from the city for the second time in three years.
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Life sciences leader juggles faith, science and businessRestricted Content

November 3, 2012
J.K. Wall
BioCrossroads CEO David Johnson sees little conflict as he balances all three in promoting and investing in Indiana life sciences firms
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Purdue researcher harbors high hopes for new ventureRestricted Content

November 3, 2012
Scott Olson
Pete Kissinger hopes Phlebotics will follow in the footsteps of another of his creations, Bioanalytical Systems Inc.
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Lilly to spend $140M on new insulin cartridge plant

November 1, 2012
J.K. Wall
About 100 workers will staff the new plant, which will be constructed by spring 2014 and ready for operations in 2015. But only “some” of that number will be new hires.
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Lilly plans expansion of local insulin plant

October 30, 2012
J.K. Wall
The Indianapolis-based drugmaker plans to expand its local insulin plants to make insulin cartridges to meet what it describes as growing demand in the United States.
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Outlook gloomy for device investments

October 29, 2012
J.K. Wall
The amount of venture capital invested in medical-device and equipment companies nationally has declined each quarter this year, reaching levels not seen since 2004, according to data released Oct. 19 by the National Venture Capital Association and PricewaterhouseCoopers.
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Profit falls at Dow AgroSciences even as sales rise

October 24, 2012
J.K. Wall
Strong demand from farmers boosted sales by 8 percent at Dow AgroSciences LLC in the third quarter, but continued investments in new technologies slashed profits by 16 percent.
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Lilly CEO calls for life sciences research institute

October 23, 2012
J.K. Wall
Eli Lilly CEO John Lechleiter on Tuesday called for creation of a "world-class" research institute in Indianapolis to bring together scientists from universities and corporations to develop new medical therapies and companies.
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Roche continues to restructure diabetes unit

October 22, 2012
J.K. Wall
Roche officials said last week that price competition and lower reimbursement rates are forcing it to make an unspecified number of cuts in its U.S. sales force and at its research and development hubs in Indianapolis and Germany.
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DANZ: Indianapolis tech community should build momentumRestricted Content

October 20, 2012
Kristine Danz / Special to IBJ
More money, mentoring would add fuel to lively industry.
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Indianapolis tech firms, hospitals discover mutual needRestricted Content

October 20, 2012
Chris O'Malley
An initiative is matching tech entrepreneurs with hospital officials in the hope of solving health care problems.
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Lilly stomach-cancer drug helps survival, study finds

October 15, 2012
Bloomberg News
Eli Lilly and Co. shares rose nearly 5 percent Monday morning after it said a study found that its experimental stomach-cancer drug helped patients with advanced disease live longer.
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Evans to lead AIT again as CEO leaves company

October 15, 2012
 IBJ Staff
Ron Thieme, who took over as president and CEO of AIT Laboratories during a management shakeup earlier this year, is leaving the company, the Indianapolis-based firm announced Monday morning.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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