Dow AgroSciences nears jackpot from genetic engineering
Dow AgroSciences LLC is spending millions of dollars and racking up hundreds of patents as its expands ever deeper in the burgeoning global market for genetically modified crops and pesticides.
Bioscience
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Funding drought pinches life sciences firms
Nationally, venture capital investments into life sciences firms totaled $4.9 billion during the first nine months of 2013, down 30 percent from the same period in 2008, according to data from Thomson Reuters and PricewaterhouseCoopers. In Indiana, life sciences firms raised $21 million during the first nine months of the year, far lower than any year since 2003.
Analysts: Investors wrong to dump Endocyte
Investors on Friday dumped shares of West Lafayette-based Endocyte Inc. after an independent analysis said an experimental lung cancer drug is unlikely to be declared superior to existing chemotherapy. But two analysts say, to the contrary, the analysis shows the prospects for Endocyte’s drug are as good as ever.
Auction lands $2.1 million for Elona Biotech assets
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.
PANEL: Life sciences will see radically different future
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.
IU medical school’s push to launch startups bears fruit
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.
Health care startups hungry for funds
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.
Zimmer’s earnings slip, but beat expectations
Fourth-quarter profit fell 2 percent at Zimmer Holdings Inc. due to large accounting charges, but still beat the estimates of Wall Street analysts.
BioCrossroads seed fund makes first investments
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.
Nico raises $6.5 million more from existing investors
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.
BioCrossroads has stoked state’s life sciences industry, but challenges remain
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.
Dow Agro posts record fourth quarter profit
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 seeds upstart medical device maker
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.
Ex-Dow Agro scientist makes plea in trade-secret case
A former Indiana scientist has agreed to plead guilty to charges of illegally sending trade secrets worth $300 million to China and Germany.
Medical implant maker plans move from northern Indiana
Rochester Medical Implants plans to move operations from Rochester to Noblesville in October. The company has 28 employees.
Indiana life sciences leaders look toward the future
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.
More life sciences firms opt to launch products in Europe
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.
Tech district could boost Indianapolis’ convention business
The Indianapolis Convention & Visitors Association plans to attract more life sciences conferences.
Lilly plans more investment in two-in-one drugs
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.
City to roll out plan for 16th Street tech corridor
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.