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The RND Group Inc., which makes software for medical-device and diagnostic firms, will expand its operations in Indianapolis, adding as many as 25 jobs by 2016. The company employs 27 full-time people along with the equivalent of 14 full-time contractors. The Indiana Economic Development Corp. agreed to give RND Group $700,000 in tax credits if it fulfills its job-creation commitment. The city of Indianapolis is considering additional tax incentives.

Indianapolis-based Nico Corp. has raised another $6.5 million in venture capital from its existing shareholders and board members. Nico’s Myriad line of products allow minimally invasive removal of brain tumors and tissue in adults and children. Now, Nico wants to use the new round of capital to develop technology to address diseases that were often considered inoperable, such as metastatic brain cancer, intracerebral hemorrhages and glioblastoma multiforme. Since 2008, Nico has raised $20 million, with half of that coming in 2009. Investors participating in its latest fundraising round included Rose-Hulman Institute of Technology, River Cities Capital Fund, CHV Capital, Cornelius Private Investments and Twilight Venture Partners. Nico was founded in 2007 by many of the executives and investors that created Suros Surgical Systems Inc., which was sold in 2006 to Massachusetts-based Hologic Inc. for $248 million.

West Lafayette-based Perfinity Biosciences Inc. has partnered with Japan-based Shimadzu Corp. to market and distribute its technology, which automates the preparation and analysis of protein samples in research and diagnostic labs. The Perfinity Integrated Digestion Platform cuts down sample preparation time from 18 hours to 30 minutes or less. The companies worked together to launch Perfinity’s technology in the United States earlier this year. Financial details about the agreement were not disclosed.

Micro Machine Co. LLC, an orthopedic medical-device manufacturer, will build out a new manufacturing plant in Warsaw, creating as many as 60 jobs by 2015. The company, based in Kalamazoo, Mich., will invest $2.8 million in its expansion to produce parts for Warsaw-based Zimmer Holdings Inc. and Warsaw-based DePuy Orthopaedics Inc., and perhaps other companies. Micro Machine already employs eight in Warsaw in addition to 72 in Kalamazoo. The Indiana Economic Development Corp. offered Micro Machine up to $585,000 in tax incentives and training grants if it fulfills its job-creation plans. Kosciusko County approved additional property tax abatement for Micro Machine.
 

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Physicians, dentists, nurses, veterinarians, pharmacists and other medical workers would have to undergo a criminal background check when applying for a new state license under a bill approved Tuesday by an Indiana House of Representatives committee, according to the Associated Press. The House Public Health Committee voted 7-1 in favor of the bill, which would permit state boards to suspend, deny or revoke the licenses of people with criminal offenses determined to affect the person's ability to perform their duties. The Senate already has approved a version of the bill, which also would allow state boards to randomly select some seeking license renewals for criminal checks. Nearly 200,000 people are currently licensed or certified in one of the 20 professions specified in the bill. The bill allows action against a person's license if they've been convicted of various offenses, including illegal drug possession, fraudulently obtaining a controlled substance and sex crimes.

After two setbacks in the United States, Eli Lilly and Co. and Amylin Pharmaceuticals Inc. won the backing of European Union regulators for Bydureon, their once-weekly diabetes medicine. The London-based European Medicines Agency recommended Bydureon for approval in adults with Type 2 diabetes, according to a statement from the companies. The drug still must receive final approval from the European Commission. Bydureon is a long-acting version of Byetta, the twice-daily drug introduced by Indianapolis-based Lilly and San Diego-based Amylin in 2005. But Byetta has been losing sales to Denmark-based Novo Nordisk A/S's once-daily version of the medicine, Victoza, which has also been shown to be slightly more effective at reducing patients’ blood-sugar levels than Bydureon in a clinical trial. Lilly and Amylin had hoped to get Byrdureon approved a year ago. But the U.S. Food and Drug Administration delayed a decision in the spring and then in October demanded a new study of Bydureon’s effects on patients’ hearts. Lilly and Amylin expect to resubmit Bydureon to the FDA in the second half of this year. Analysts expect sales of Bydureon to top $1 billion a year and perhaps even approach $2 billion. Byetta had sales last year of $710 million, while Victoza rang up $450 million.

Indianapolis-based NICO Corp. won approval to sell its Myriad surgical device in Europe, the company reported last week. NICO can now sell its minimally invasive brain-tumor-removal device in the 27 countries that constitute the European Union. The Myriad device has been for sale in the United States since 2009 and has been used in more than 1,000 procedures, involving both adults and children. About 2 million people worldwide are diagnosed each year with a brain tumor.

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Startup NICO Corp. hopes to commercialize brain surgery device

Economists call it a “virtuous cycle” when successful entrepreneurs plow their gains into new businesses. Jim Pearson calls
it another day on the job. The former Suros Surgical Systems Inc. CEO is attempting to repeat what he already has done: Build
a company to bring a promising medical device all the way from the drawing board to the market.

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