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. A Tilted Kilt at a water park themed hotel? Who planned that one? I guess the Dad's need something to do while the kids are on the water slides.

  2. Don't come down on the fair for offering drinks. This is a craft and certainly one that belongs in agriculture due to ingredients. And for those worrying about how much you can drink. I'm sure it's more to do with liability than anything else. They don't want people suing for being over served. If you want a buzz, do a little pre-drinking before you go.

  3. I don't drink but go into this "controlled area" so my friend can drink. They have their 3 drink limit and then I give my friend my 3 drink limit. How is the fair going to control this very likely situation????

  4. I feel the conditions of the alcohol sales are a bit heavy handed, but you need to realize this is the first year in quite some time that beer & wine will be sold at the fair. They're starting off slowly to get a gauge on how it will perform this year - I would assume if everything goes fine that they relax some of the limits in the next year or couple of years. That said, I think requiring the consumption of alcohol to only occur in the beer tent is a bit much. That is going to be an awkward situation for those with minors - "Honey, I'm getting a beer... Ok, sure go ahead... Alright see you in just a min- half an hour."

  5. This might be an effort on the part of the State Fair Board to manage the risk until they get a better feel for it. However, the blanket notion that alcohol should not be served at "family oriented" events is perhaps an oversimplification. and not too realistic. For 15 years, I was a volunteer at the Indianapolis Air Show, which was as family oriented an event as it gets. We sold beer donated by Monarch Beverage Company and served by licensed and trained employees of United Package Liquors who were unpaid volunteers. And where did that money go? To central Indiana children's charities, including Riley Hospital for Children! It's all about managing the risk.

ADVERTISEMENT