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Company news

August 18, 2010

Orthopedics giant Biomet Inc. plans to invest $26 million to grow operations in its hometown of Warsaw, adding 278 jobs by the end of 2012. Biomet’s Warsaw Center of Excellence initiative calls for facility improvements and new equipment that will allow the company to consolidate manufacturing activities from New Jersey.  Research-and-development and administrative services also will be expanded. The Indiana Economic Development Corp. offered the company as much as $2.75 million in performance-based tax credits and up to $200,000 in training grants to help the company expand. Biomet also will get a 10-year tax abatement approved by the Kosciusko County Council.

A researcher at the Indiana University School of Medicine concluded in a clinical trial that an experimental drug can double the cure rate for patients with hepatitis C. In the trial, doctors added the drug boceprevir, made by New Jersey-based Merck & Co. Inc., to the standard treatment regime for the chronic liver ailment. Cure rates jumped to 75 percent using the combination therapy, compared with a 38-percent cure rate for the standard treatment. The clinical study was led by IU’s Dr. Paul Kwo, but was conducted at 67 sites in the United States, Canada and Europe.

Matrix-Bio Inc., based in West Lafayette, received an investment from Main Street Venture Funds, a Fort Wayne-based group of angel investors. The size of the investment was not disclosed. Matrix-Bio is using technology developed at Purdue University to develop a test that can detect a recurrence of breast cancer earlier than mammograms and MRI images, which are currently the most common tests.

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