INDIANAPOLIS (April 22, 2020) – BioCrossroads today released a new report which details the sources and amounts of capital supporting Indiana’s life sciences sector in 2019. An impressive $9.1 billion in capital was accessed by Indiana life sciences companies in 2019:

  • $8.6 million Small Business Innovation Research (SBIR) grants were awarded to 21 companies;
  • $177 million in venture capital was invested in 37 companies;
  • $178.7 million was accessed through public markets by two companies; and,
  • More than $8.7 billion was spent to acquire innovation, representing eight transactions.

Indiana’s life sciences companies raised over $360 million, excluding the significant funding represented by mergers and acquisitions, in 2019.  These funds support innovation to discover and develop new therapies for diseases.

“Having access to multiple capital investment vehicles fuels Indiana’s diverse and vibrant life sciences industry, which adds to the strength of the sector. There is a lot to be excited about, and more work to do,” said Nora Doherty, executive vice president, finance and Indiana Seed Fund managing director for BioCrossroads, and report author. “Our innovators, those who support the development of their ideas, as well as those that provide capital to fuel discovery and development, are all critical components to bringing new medical therapeutics and devices to market.”

The report provides specific information on the types of funding, the companies who received capital, how much was funded, and the funders.

The report, Indiana Life Sciences Capital: A summary of 2019 investments, is available on the BioCrossroads website, or [CLICK HERE]

About BioCrossroads

BioCrossroads ( is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development.  BioCrossroads invests capital and provides support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, 16 Tech, Indiana Health Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX, OrthoWorx and Datalys Center), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.

* Sources of capital for life sciences development included in this summary are:  SBIR/STTR funding, Venture Capital, IPOs and related public offerings, as well as mergers and acquisitions. Primary sources include the SBIR award website; Pitchbook Data, Inc. a SaaS company that delivers data, research and technology covering the private capital markets, including venture capital, private equity and M&A transactions; company issued releases; data from BioCrossroads with Indiana Business Research Center at Indiana University; and other public sources.