Life Science & Biotech

Dow Agro parent sets stage for sale or spinoffRestricted Content

March 29, 2014
J.K. Wall
Dow AgroSciences LLC is likely to become a stand-alone public company in the next three years, according to some Wall Street analysts—if the wunderkind division of Dow Chemical Co. lives up to sky-high expectations.
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Endocyte stock doubles after key approval in Europe

March 21, 2014
Bloomberg News, J.K. Wall
The stock price of Endocyte Inc. skyrocketed by as much as 130 percent Friday morning after the drug company got a thumbs up in Europe to market its first drug and received a new round of favorable clinical trial results.
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Dow Agro CEO retiring as divesture speculation returns

March 21, 2014
 Bloomberg News and IBJ Staff
Dow AgroSciences is getting a new chief, the company said Friday. Meanwhile, the CEO of parent company Dow Chemical says Dow Agro could be sold off in a year or two.
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Biomet plans $40.5 million upgrade, 150 jobs

March 16, 2014
Associated Press
Biomet's project calls for building renovations and adding 3-D printing and optical scanning technology. The Warsaw-based company would also upgrade an incubation center for surgeons interested in introducing a new product, technology or technique.
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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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Biomet files to sell shares in IPO to pay down debt

March 7, 2014
Bloomberg News
Indiana-based Biomet Group Inc., a closely held maker of orthopedic medical devices, had been publicly traded until 2007 when it was acquired by the group of private equity firms.
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Lilly drug shows promise as lung cancer treatment

February 19, 2014
J.K. Wall
Shares of Eli Lilly and Co. rose as much as 3.8 percent Wednesday morning after the Indianapolis-based drugmaker revealed that an experimental drug boosted overall survival among lung cancer patients in a large trial.
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Ex-Marcadia execs raise $1.7M to launch drug firmRestricted Content

February 15, 2014
J.K. Wall
Fritz French and Richard DiMarchi, the former leaders of Marcadia Biotech, have teamed up to launch the diabetes drug development firm Calibrium LLC.
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Deals up, dollars down in 2013 for Indiana life sciences firms

February 10, 2014
J.K. Wall
Venture capitalists and angel investors put a combined $31.9 million into 18 life sciences companies last year, with some of the largest amounts going to Nextremity Solutions, hc1.com and FAST BioMedical.
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Biomet reaches $50M settlement in hip-replacement case

February 7, 2014
Associated Press
Indiana-based Biomet Inc. has agreed to pay a base rate of $200,000 each to hundreds of people who received artificial hips that were later replaced.
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Purdue, Cook create $12M fund for life-science startups

February 4, 2014
 IBJ Staff
The Foundry Investment Fund will join with other investors to provide funding for companies that use Purdue-licensed technology or expertise in human and animal health and plant sciences.
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Rival's lawsuit could delay launch of new Lilly insulin

January 31, 2014
J.K. Wall
Paris-based Sanofi sued Eli Lilly and Co. on Thursday for patent infringement. That suit triggers an automatic 30-month delay on Lilly’s plans to launch a similar version of Sanofi's once-a-day insulin Lantus.
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Lilly said to be willing to pay $3.7B for biotech firm

January 27, 2014
J.K. Wall
A newspaper says Eli Lilly and Co. is a leading contender to acquire a Massachusetts-based biotech company with a troubled leukemia drug.
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IU professors' invention tracks eyes to detect brain injuries

January 11, 2014
Anthony Schoettle
Two Indiana University School of Optometry professors are tackling diagnosis of one of the most difficult medical problems facing sports teams at every level: head injuries.
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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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State lags city with science, tech jobs

January 4, 2014
Dan Human
Careers in science, technology, engineering and math—typically referred to as STEM fields—have surged in growth compared to other careers in Marion and Hamilton counties. But the rest of Indiana has barely budged from the early 2000s.
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Lilly set to fall off second patent cliff

December 9, 2013
J.K. Wall
Eli Lilly and Co. on Wednesday will fall off its second “patent cliff” in as many years as its best-selling drug Cymbalta sees its U.S. patents expire.
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J&J to pay $2.5B to settle hip replacement suits

November 19, 2013
Associated Press
The agreement is one of the largest ever for the medical device industry. It resolves an estimated 8,000 cases of patients who had to have the company's metal ball-and-socket hip implant removed or replaced. The implants were made by J&J's Indiana-based DePuy unit.
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MCCANN: Energy research evolving to meet massive demandsRestricted Content

November 16, 2013
Maureen McCann / Special to IBJ
The days of lone-wolf researchers shouting 'Eureka' are over.
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Purdue makes big push into state's pharma industry

November 2, 2013
J.K. Wall
With a $60 million-plus investment, the university aims to take molecules from discovery to clinical trials.
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Sale may extricate Harlan Labs from its debt problems

November 2, 2013
Greg Andrews
San Francisco-based Genstar Capital is exploring selling the 2,600-employee company in the wake of failing early this year to renegotiate the company’s massive debt load.
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DowAgrosciences cultivates sales record, but profit withers

October 24, 2013
 IBJ Staff and Associated Press
Despite a boost in third-quarter revenue due to crop-protection products, profit for the local unit of Dow Chemical tumbled more than 71 percent.
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State medical institute snares $30M grant from feds

October 23, 2013
 IBJ Staff
A consortium of Indiana University, Purdue University and University of Notre Dame can operate for another five years with the grant funds.
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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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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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