A remarkable comment

Indiana has never been known as a hotbed of venture capital deals. That recognition has long gone to California and Massachusetts, and the numbers fall off quickly in other states.

So a statement in this weekend’s IBJ was noteworthy for its take on the budding climate in the state.

Ann Hanham, managing partner of Burrill and Co., the San Francisco-based biotech venture firm, was quoted by IBJ reporter Peter Schnitzler as saying the firm was worried about wasting its time when it entered Indiana five years ago.

Now, she said, Indiana is generating deal flow comparable to North Carolina — home to vaunted Research Triangle Park, where a number of big companies have research operations.

Indiana is nowhere near the big states and probably never will be. Still, her observation suggests the life sciences effort under way in the state in the past few years has gained substantial traction.

What’s your take?