Elona went into receivership in June after Greenwood officials filed a foreclosure lawsuit against the firm. The company failed after receiving more than $8 million in economic development incentives from the city over the past three years.
IBJ convened a panel of experts at its Life Sciences Power Breakfast on May 10 to talk about the industry issues of venture capital, digital health innovations and research university entrepreneurship.
Panel members included Kristin Eilenberg, CEO, Lodestone Logic, Infuse Accelerator; Philip S. Low, Purdue University professor of chemistry, founder and chief science officer at Endocyte Inc. and On Target Laboratories LLC; R. Matthew Neff, president, CHV Capital Inc.; Brian Stemme, project director; BioCrossroads; Brian S. Williams, director, Global Healthcare Strategy, PricewaterhouseCoopers International Ltd.; and Raul Zaveleta, CEO, Indigo BioSystems Inc.
The following is an unedited transcript of the discussion.
The Indiana University School of Medicine has launched 12 companies in the past 18 months—a burst of startup activity the school has never seen before.
Frustrated by up-and-down state funding for startup life sciences companies, industry leaders are talking up a plan to create a dedicated funding stream that could total $30 million a year.
Fourth-quarter profit fell 2 percent at Zimmer Holdings Inc. due to large accounting charges, but still beat the estimates of Wall Street analysts.
Local startups Esanex Inc. and Algaeon Inc. have received $500,000 and $250,000, respectively, from Indiana Seed Fund II, BioCrossroads’ second fund to help fledgling life sciences companies.
Indianapolis-based Nico Corp. wants to use its new round of capital to develop brain surgery products to address diseases that were often considered inoperable, such as metastatic brain cancer and intracerebral hemorrhages.
In the 10 years BioCrossroads has been promoting life sciences in Indiana, the effort has netted more than 330 new companies, an infusion of more than $330 million in venture capital, a tripling of exports, and a growing number of mentions in national reports on life sciences.
The Indianapolis-based unit of Dow Chemical Co. saw earnings grow to $142 million, a fourth-quarter record and double the $72 million reported for the 2010 period.
BioCrossroads’ Indiana Seed Fund has invested $300,000 in a startup company chaired by a former Eli Lilly and Co. executive developing an absorbable stent.
A former Indiana scientist has agreed to plead guilty to charges of illegally sending trade secrets worth $300 million to China and Germany.
Rochester Medical Implants plans to move operations from Rochester to Noblesville in October. The company has 28 employees.
Former Eli Lilly and Co. vice president Richard Dimarchi, BioCrossroads President David Johnson, angel investor Oscar Moralez and Purdue University Senior Vice President Alan Rebar discuss issues ranging from the depth of the life sciences industry in Indiana to venture capital and Purdue’s Discovery Park.
The U.S. Food and Drug Administration’s growing reputation for unpredictability is spurring some Indianapolis companies to join counterparts elsewhere and introduce products in Europe. The upshot is that some Americans may never benefit from innovations occurring in their backyards.
The Indianapolis Convention & Visitors Association plans to attract more life sciences conferences.
Indianapolis-based drugmaker Eli Lilly on Tuesday will announce a multimillion-dollar investment to develop drugs that act like two medicines in one. Lilly plans to add more scientists to back the effort.
The city of Indianapolis plans to announce a major initiative to turn a stretch of 16th Street northwest of downtown into a hub for biotechnology and other high-tech companies.
Colleen Hittle became CEO and sole owner of the Indianapolis-based pharmaceutical and medical device consulting firm in April.
BioStorage Technologies’ $4.6 million facility, located near the Indianapolis International Airport, will be used to prepare, store and transport tissue and blood samples.
The Metropolitan Development Commission on Wednesday preliminarily approved Advion BioServices Inc.’s request for a tax abatement to build a laboratory at Purdue Research Park in Indianapolis.
