BioCrossroads releases 2022 Indiana Life Sciences Capital Report showing $6.8B in capital investment in the life sciences sector
INDIANAPOLIS (April 17, 2023) — BioCrossroads today released its annual analysis of capital invested to grow and support Indiana life sciences companies in 2022. “We are pleased to report that Indiana experienced capital investment of more than $6.8 billion in 2022 that will directly result in the creation of 3,000 new life sciences sector jobs in the state,” said Jane Dunigan-Smith, BioCrossroads’ senior vice president, chief strategy officer and managing director of Seed Funds. “This includes more than $600 million in venture capital to support innovation and start-ups along with $2.8 billion in other capital investments for establishing, expanding or upgrading Indiana life sciences facilities.” Indiana’s life sciences sector contributed $77 billion to the state’s economy last year. Total market cap value grew by 20 percent over 2021, from $455.7 billion to $548.7 billion, driven largely by Eli Lilly and [...]
IBJ: Life Sciences Industry Booster BioCrossroads Girds for New Challenges
A recent Indianapolis Business Journal (IBJ) article takes a look back at 20 years of success for BioCrossroads, the life sciences initiative of the Central Indiana Corporate Partnership (CICP). In two decades, BioCrossroads has assisted more than 500 startup companies, raised more than $600 million of market capital and helped attract thousands of jobs. In 2022, data shows that Indiana leads the United States in pharmaceutical sales and is one of three top states for exports of all life sciences products - pharmaceuticals, medical devices, and agbiosciences, while providing an $80 billion economic impact. In 2023, BioCrossroads announced that President and CEO Patty Martin would step down to pursue other ventures. “I think it’s just a logical time right now to take a couple of months and really take a good hard, informed look at where we are overall,” said [...]
BioCrossroads names new members to leadership team
INDIANAPOLIS (March 21, 2023) — BioCrossroads announced today that Jane Dunigan-Smith and Mike Bolinder have joined the organization’s leadership team. Dunigan-Smith, senior vice president, chief strategy officer and managing director of Seed Funds, comes to BioCrossroads after 19 years with Eli Lilly and Company where she spent a significant portion of her career in commercialization, corporate strategy and operations. She also has a strong background in accounting and finance, having spent the early part of her career as a Certified Public Accountant, and serves on the boards of Diagnotes, Inc. and Allinaire Therapeutics. “Jane’s multi-faceted experience positions her to manage the Seed Funds and lead our strategy at a time when Indiana’s life sciences sector is expanding and innovating in multiple areas,” said Patty Martin, president and CEO, BioCrossroads. “One example is our work to establish Indiana as a global [...]
White Paper: Recruiting and retaining talent who make life-saving medicine; State of Pharmaceutical Manufacturing Workforce in Indiana
Indiana is experiencing significant statewide growth in pharmaceutical manufacturing (Indiana ranks #1 in the nation for pharmaceutical exports) but this boom in high-quality, high-paying jobs is challenged by a shortage of qualified workers. BioCrossroads, in partnership with Ascend Indiana, convened pharmaceutical manufacturers, postsecondary education institutions, and state officials to explore how to develop a robust talent pipeline to support continued growth. The two initiatives have released the following white paper: Recruiting and retaining talent who make life-saving medicine: State of the Pharmaceutical Manufacturing Workforce in Indiana [READ WHITE PAPER]
Indiana leads the U.S. in pharmaceutical exports
INDIANAPOLIS (March 2, 2023) -- Indiana leads the United States in pharmaceutical exports, according to new data from the Indiana Business Research Center at the Indiana University Kelley School of Business. Life sciences exports have always been a strong area for the state. Indiana has been one of the top three states in exports for all life sciences products – pharmaceuticals, medical device, and agbiosciences -- for more than a decade. In 2022, $13 billion of these products were shipped all over the world. In addition, 2022 saw a record amount of venture capital raised by Indiana start-ups for the third straight year – increasing to $620 million, an increase of nearly $200 million from 2021. Other key indicators and statistics for 2022 include: The economic output of the state’s life sciences industry was $77 billion, driven by more than [...]
BioCrossroads releases 2022 Annual Report
2022 was a year for celebration for BioCrossroads, not only because the life sciences sector continued strong growth and success, but because it was the organization’s 20th anniversary which marked a time to not only reflect on past accomplishments and achievements, but to also look forward to the future of the industry and the next generation of talent. MASSIVE MARKET KNOWLEDGE BioCrossroads undertook an ambitious year of coordinating and releasing capital and economic impact reports; profiles of innovators and change makers; and tracking the organization’s two decades of work – publishing ten reports in all. TOUTING TALENT To honor the next generation of life sciences leaders, BioCrossroads developed the 23 PAIR (Promising Achievers in Innovation and Research) recognition program in 2022. ENGAGING THROUGH EVENTS With more than 100 events developed and hosted over the last two decades, BioCrossroads took advantage [...]
BioCrossroads President and CEO Patty Martin to step down
INDIANAPOLIS (Feb. 14, 2023) —BioCrossroads announced today that Patty Martin, president and CEO, has decided to step down from the organization. Martin, who is an ardent and passionate catalyst and connector for the life sciences in Indiana, will continue her engagement with the life sciences industry in the private sector. “Patty’s energy and passion have been felt throughout Indiana’s life sciences sector over the last four years,” said BioCrossroads Board Chair Dan Peterson and vice president of Government and Industry Affairs, Cook Group. “Her guidance and leadership have been especially critical as BioCrossroads reached a significant milestone with their 20th anniversary in 2022. As we look toward the future of the organization, the foundation she laid will continue to support new and exciting opportunities for the sector.” Martin advanced the important work of BioCrossroads through its collaborative, investment, and programming [...]
