IBJ: Life Sciences Industry Booster BioCrossroads Girds for New Challenges

2023-03-31T09:19:03-04:00March 27, 2023|

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

2023-03-21T15:25:53-04:00March 21, 2023|

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

2023-03-09T09:52:35-05:00March 9, 2023|

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

2023-03-02T14:39:58-05:00March 2, 2023|

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

2023-03-09T09:09:22-05:00March 2, 2023|

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

2023-02-14T10:01:05-05:00February 14, 2023|

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 [...]

IBJ: Indiana Life Sciences Companies Raise Record $620M in 2022

2023-01-24T09:15:14-05:00January 24, 2023|

A recent article in the Indianapolis Business Journal by reporter John Russell, shows that Indiana’s healthcare and life sciences sector, often hailed as a key driver of the state’s economy, landed a record $619.8 million in venture funding last year, a hefty increase over the previous record, set a year earlier. Data provided by CICP's life sciences initiative BioCrossroads also shows that the amount of funding raised is 43% larger than the previous record of $433 million, set in 2021. According to the story, thirty-seven companies signed 40 deals last year for venture funding, for an average deal amount of $15.5 million. That is an improvement from the year before, when 39 companies signed deals worth an average amount of $11.1 million. [READ MORE] (Sources: Indianapolis Business Journal, BioCrossroads)

Indiana’s life sciences industry continues to rank among the top 10 in national report

2022-11-14T10:08:42-05:00November 14, 2022|

INDIANAPOLIS (Nov. 14, 2022) – The State of Indiana, as well as seven Hoosier cities, have once again been recognized for their national life science strengths, according to Biotechnology Industry Organization (BIO) and TEConomy Partners’ biennial survey of the U.S. life sciences industry. The report, The U.S. Bioscience Industry: Fostering Innovation and Driving America’s Economy Forward, measures growth in the biosciences sector* from 2018 to 2021 for the entire country and each of the fifty states. Indiana continued its top 10 employment ranking in the life sciences, with a sizeable workforce and industry concentration in the areas of agriculture feedstock and chemicals, drugs and pharmaceuticals, and medical devices and equipment. The state is also one of only eight states with employment specializations in three of five bioscience sectors. In addition, Indiana is ranked third for academic biosciences research and development [...]

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