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Biosciences institute aims for $300M endowment

The effort to launch the Indiana Biosciences Research Institute got $25 million from the Legislature, but the life sciences institutions backing the effort have set their funding sights much higher.

Police seek hit-and-run driver

Police are searching for a dark-green Chevrolet Blazer with front-end damage that struck and killed a 52-year-old Indianapolis man late Saturday night. Earmon “Bud” Hubbard III was riding his bike southbound on North Emerson Avenue shortly before 10 p.m. when he was hit from behind by the SUV, which fled the scene. Hubbard later died at the hospital.

Pence lowers flags for Bowen

Gov. Mike Pence has directed flags across Indiana be flown at half-staff through next Saturday to honor former Gov. Otis "Doc" Bowen, who died Saturday night at 95. Services for Bowen will be held this week in Bremen, with callings on Wednesday and Thursday, and the funeral Friday at 11 a.m.

There’s good reason for Pacers fans to love Knicks

Every hero needs a villain. And the Knicks have always been the perfect villain to galvanize the Pacers' fan base. The big-city Knicks are the bad guys again this year at a crucial time for the Pacers in Indianapolis.

Company news

Diagnotes Inc., an Indianapolis-based health IT company, announced today that it has closed on $1 million in funding from life sciences and early-stage growth company investors. The investment group was led by Indiana University’s Innovate Indiana Fund and includes BioCrossroads’ Indiana Seed Fund II, Stepstone Angels and other investors. The funding will help Diagnotes commercialize its communication system for on-call health care providers. The Diagnotes system allows providers and patients to connect with on-call doctors and nurses while delivering key patient information from the electronic health record to the point of care.

Endocyte Inc. recorded $14.5 million in revenue during the first quarter and a loss of $3.9 million, or 11 cents per share. The West Lafayette-based drug development firm is still working with European regulators to win approval to launch its first drug, vintafolide. The drug, targeted for drug-resistant ovarian cancer, would be commercialized with New Jersey-based Merck & Co. Inc. Merck’s payment last year of $120 million is Endocyte’s sole source of revenue. The company’s cash pile declined during the first quarter from $201.4 million to $185.9 million. Endocyte officials reaffirmed their predictions that the company will have cash and cash equivalents between $145 million and $160 million at the end of 2013.

Franciscan St. Francis Health has partnered with WhatNext.com, a Carmel-based online support network that matches up cancer patients according to their diagnosis, stage and age. More than 10,000 Americans have registered to use WhatNext.com, including 400 patients in Indiana. “People are trying to make sense of a whole universe of new and staggering volume of medical information at the same time they are trying to figure out what’s next and to stay emotionally strong,” said David Wasilewski, who launched WhatNext.com in September 2011. “Our site helps patients benefit from those who have been there.”

Lilly taking hard look at Pfizer’s new Viagra strategy

Major drugmakers, including Indianapolis-based Eli Lilly and Co., are closely watching Pfizer Inc.’s plan to sell Viagra directly to consumers. The bold move blows up the drug industry’s distribution model.

People

Indiana University Health has named Dennis Murphy chief operating officer of its hospital system. Murphy will come to IU Health on July 22 from Northwestern Memorial HealthCare in Chicago, where he has most recently been chief operating officer. Murphy holds a bachelor’s degree from the University of Notre Dame and a master's degree in health care administration from Duke University.

Dr. Suzanne Grannan, a pediatrician, has joined Community Physician Network, which is part of the Community Health Network hospital system. She holds a medical degree from the Indiana University School of Medicine.

Dr. Justin Hollen, a family physician, has joined Community Physician Network. He completed his medical degree at Ross University School of Medicine in New Jersey.

ISTEP troubles show test considered too big to fail

Beyond the obvious and critical role it plays in determining how children advance in school, the test has more recently become a barometer for whether teachers get pay increases and whether schools are making the grade.

Former Gov. Bowen dies

Otis R. Bowen, a small-town family doctor who overhauled Indiana's tax system as governor before helping promote safe sex practices in the early years of AIDS as the top federal health official under President Ronald Reagan, died Saturday. He was 95.