IBJNews

Pace of life sciences venture capital deals in Indiana picks up

Back to TopCommentsE-mailPrintBookmark and Share
On The Beat Industry News In Brief

After no Indiana health and life sciences firms announced venture capital deals in the second quarter, five did so in the third, and two more have already this month.

That’s equal to the number of companies attracting investment in the first quarter, but the value per deal grew from more than $4 million to more than $5 million, according to data from BioEnterprise, a Cleveland-based life sciences business development group.

The companies securing investments in the third quarter were Dormir LLC, Carmel, an operator of sleep centers: $12 million; Nico Corp., Indianapolis, a developer of technology for minimally invasive neurosurgery: $10 million; Diagnostic ID, Indianapolis, a maker of a system that matches patients with their biopsy samples: $3 million; Matrix-Bio, West Lafayette, a maker of a blood test for early-stage detection of breast cancer: $200,000; and FAST Diagnostics, Indianapolis, a maker of a kidney filtering monitor: $150,000.

In October, Warsaw-based OrthoPediatrics shared an undisclosed portion of $1.4 million handed out by StepStone Angels, an Indianapolis-based group of private investors. Also, West Lafayette-based developer of cancer drugs Endocyte Inc. pulled in a whopping $26 million from its investors.

Even with that deal, the average size of investment is about half what it was a year ago, and even less than in 2007, before the recession took hold.

Health-care-related venture capital deals in other Midwestern states have also increased in number this year, but decreased in size, according to BioEnterprise.

ADVERTISEMENT

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. I'm a CPA who works with a wide range of companies (through my firm K.B.Parrish & Co.); however, we work with quite a few car dealerships, so I'm fairly interested in Fatwin (mentioned in the article). Does anyone have much information on that, or a link to such information? Thanks.

  2. Historically high long-term unemployment, unprecedented labor market slack and the loss of human capital should not be accepted as "the economy at work [and] what is supposed to happen" and is certainly not raising wages in Indiana. See Chicago Fed Reserve: goo.gl/IJ4JhQ Also, here's our research on Work Sharing and our support testimony at yesterday's hearing: goo.gl/NhC9W4

  3. I am always curious why teachers don't believe in accountability. It's the only profession in the world that things they are better than everyone else. It's really a shame.

  4. It's not often in Indiana that people from both major political parties and from both labor and business groups come together to endorse a proposal. I really think this is going to help create a more flexible labor force, which is what businesses claim to need, while also reducing outright layoffs, and mitigating the impact of salary/wage reductions, both of which have been highlighted as important issues affecting Hoosier workers. Like many other public policies, I'm sure that this one will, over time, be tweaked and changed as needed to meet Indiana's needs. But when you have such broad agreement, why not give this a try?

  5. I could not agree more with Ben's statement. Every time I look at my unemployment insurance rate, "irritated" hardly describes my sentiment. We are talking about a surplus of funds, and possibly refunding that, why, so we can say we did it and get a notch in our political belt? This is real money, to real companies, large and small. The impact is felt across the board; in the spending of the company, the hiring (or lack thereof due to higher insurance costs), as well as in the personal spending of the owners of a smaller company.

ADVERTISEMENT