The funding included 39 Indiana life-science companies raising $433.5 million last year in venture capital, an increase of almost $200 million compared to 2020, according to a report issued by BioCrossroads.
Indiana’s life-sciences sector, often hailed as a key driver of the state’s economy, landed a record $433 million in venture funding last year, despite the COVID-19 pandemic that challenged so many other sectors, from restaurants to airlines.
The sectors in central Indiana account for one out of every 10 jobs here, or 164,144 workers, and the jobs pay an average of $77,229, according to the report commissioned by BioCrossroads.
The spinoff, called Sexton Biotechnologies, has raised $5 million in outside investment and will spin off in October. The biotech develops cell and gene therapy tools used to grow cells for medical purposes.
Patricia Martin, 58, former chief operating officer of Lilly’s diabetes division, will start her new job July 1, leading an organization that promotes and invests in the state’s life sciences sector.
Endocyte Inc.'s decision two years ago to shelve its own pipeline and look for other opportunities was a difficult call that eventually paid off for investors, its former CEO said Friday at IBJ’s Life Sciences Power Breakfast.
A new study by BioCrossroads and Indiana University shows the sector’s economic impact grew about 1 percent last year, to $79 billion.
The Indiana Seed Fund III is an early-stage fund focused on developing startups in life sciences, health IT and agricultural biosciences.
The work-play-live district for innovation and entrepreneurship being developed on the near-northwest side will include research labs, apartments and bicycle trails—which could help to attract young workers.
Around Indiana, life sciences companies are searching high and low for venture capital to fund promising but expensive new products, which can take a decade or longer to develop.
While many college graduates are leaving the state, jobs in health care and life sciences in Indiana are booming, and employers are often searching high and low for talent.
IBJ gathered leaders in the life sciences industry for a Power Breakfast panel discussion April 21. Panel members included Colleen Hittle, managing director of Navigant; Suresh Garimella, Purdue University’s executive vice president of research and partnerships; Brian Barker, general manager of U.S. Seeds for Dow AgroSciences; Kristin Sherman, former chief financial officer of Calibrium LLC; and David Johnson, CEO of BioCrossroads.
Shortages of workers and investment dollars remain the two biggest challenges for Indiana’s life sciences industry, which otherwise is showing robust vital signs and embarking on high-profile collaborations.
City leaders want to make the 60-acre tract of land just north of the Indiana University School of Medicine campus a mix of all of the best the city has to offer and catch the eyes of more creative and highly sought-after workers.
Including the latest grant, the Lilly Endowment has given more than $38 million to BioCrossroads since the life sciences business development group was founded in 2002.
The Central Indiana Corporate Partnership wants the city to improve streets, walkways and other infrastructure around the 170-acre project north of the IUPUI campus, designed to attract high-tech businesses and workers.
Hoosier entrepreneurs in health care and life sciences attracted more than $31 million from investors during the first half of the year. But too few Indiana companies have developed their technology enough to attract venture capitalists or tap stock markets.
State and city leaders spend millions each year to entice companies to move here and add jobs here. But for the second time in three months, Eli Lilly and Co. has shown that the biggest attraction to a company is talented workers.
The Indianapolis-based drugmaker on Wednesday will release new data from patients taking its Alzheimer’s drug that could show whether the drug has slowed the progression of their disease. That will show investors whether the 45 percent rise in Lilly’s stock price over the past year is justified.
Indiana's life sciences companies are spending four times more on medical research than the state's hospitals, doctors and univerities are receiving from such companies for research projects. That means Indiana is missing out on more than $80 million a year.
