Scioto Biosciences lands $26.5 million from Korean biotech
The Indianapolis-based startup is developing drugs targeting brain and bowel disorders.
Bioscience
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IBJ Podcast: Advice for hiring and nurturing a diverse workforce
Attorney Angela Freeman, who has spent six years on the board of Women & Hi Tech, recommends using diverse committees—rather than leaving the job to one individual—for hiring and then assigning new employees, especially minority hires, to mentors who are invested in their success.
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First 16 Tech office building set to open in June; Innovation Hub to follow
The long-planned $500 million project is at a pivotal moment—one its organizers say could serve as a catalyst for tremendous growth at the 50-acre campus and for central Indiana overall.
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Butler researchers point to way to stop deadly coronavirus from spreading
Dr. Christopher Stobart and his students are focusing on an enzyme in the virus that could inhibit its replication, and plan to submit the findings to a virology journal in coming months.
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Articles
16 Tech announces names for innovation hub, artisan marketplace
The innovation hub, expected to open early next year, is part of a $500 million, 50-acre campus along Indiana Avenue. The hub’s new name is a nod to the site’s history as the former Citizens Water headquarters.
Novartis unit to build plant for targeted cancer drugs in Indianapolis
A subsidiary of Swiss drug giant Novartis AG announced plans Tuesday to build a targeted radioligand therapy plant at Purdue Research Park near Indianapolis International Airport.
Bayer to pay up to $10.9 billion to settle Roundup cases
The pharmaceutical company said the Roundup settlement would “bring closure to approximately 75%” of the current 125,000 claims against subsidiary Monsanto.
Roche begins shipping emergency-approved COVID-19 tests across country
Indianapolis-based Roche Diagnostics said Monday that it has begun shipping an initial order of 400,000 COVID-19 test kits to a network of more than 30 hospital and laboratories.
Virus testing is a ‘failing,’ leaving cases uncounted, experts say
Large-scale testing is a critical part of tracking the spread of infectious diseases and allocating resources for treatment. The lack of comprehensive figures means U.S. health providers could quickly be overwhelmed by undetected cases.
Indiana announces second COVID-19 case, also connected to Boston conference
The patient is from Hendricks County and attended a BioGenconference in Boston, where numerous other cases of COVID-19 have been reported.
Corteva Agriscience to stop making pesticide linked to brain damage
The main manufacturer of a pesticide used for decades on a wide array of crops, including strawberries, corn and citrus, said Thursday it will stop making the product, which some activists have said is linked to neurological problems in children.
Assembly Biosciences moves HQ from Carmel to California
The eight-year-old biotech startup is developing treatments for gastrointestinal disorders, and last year hired a new CEO. It’s unclear how many employees remain in Indiana, or how much longer the company will keep a local office.
Indianapolis Zoo gets $4M grant to establish global center for species survival
Plans call for the Global Center for Species Survival to employ a team of nine experts who will be based in Indianapolis and work with more than 9,000 wildlife experts worldwide to save threatened species.
Cook Regentec spins off first biotech from Indy-based incubator
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.
Pace planning 200-acre life-science business park by airport
The owner of Pace Air Freight, which specializes in truck transport of pharmaceutical products, is in the process of assembling land it doesn’t already own, including parcels owned by Indianapolis International Airport.
IU invests $500,000 in Richard DiMarchi’s latest biotech startup
The new venture, called MBX Biosciences Inc., aims to develop therapeutics to treat rare endocrine disorders. The company has already raised $2.5 million in funding.
Life science companies can learn from failure if they stay flexible, experts say
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.
Brazilian ag-tech firm picks Indiana for U.S. HQ, plans 334 jobs
Solinftec said Thursday it would invest $50.6 million to establish operations in the Hoosier state. The company makes technology that helps farmers collect and analyze data to increase crop returns.
Endocyte’s $2.1B deal with Novartis comes after years of setbacks
The West Lafayette biotech firm’s stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.
BioCrossroads forms $9M seed fund for life science startups
The Indiana Seed Fund III is an early-stage fund focused on developing startups in life sciences, health IT and agricultural biosciences.
Trump health secretary: Drugmakers must help cut prices, or else
Alex Azar, secretary of Health and Human Services and a former executive of Eli Lilly and Co., said Monday that the Trump administration plans to turn up the heat on uncooperative pharma firms.
16 Tech district could help slow Indiana’s brain drain, panel says
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.
Indiana life sciences firms raise record $111M in venture capital in 2017
A $44 million VC infusion in 2017 for biosciences firm On Target Laboratories was one indication that Indiana’s life sciences sector is finally starting to pull down some serious venture funding.