BioCrossroads’ seed capital strategy connects funding with innovation
INDIANAPOLIS (Oct. 27, 2021) — For nearly 20 years, BioCrossroads has demonstrated a track record of organizing, developing and managing seed-stage and venture capital funds for Indiana-based life sciences start-ups. BioCrossroads’ three Indiana Seed Funds, totaling $24.25 million, have invested in 32 life sciences start-ups since 2006. Those companies have gone on to raise an additional $796 million, more than 33 times BioCrossroads’ initial investment. A new report: Supporting Life Sciences: A look back at BioCrossroads’ capital strategy details the investment results of these three investment funds that have provided important capital to Indiana’s life sciences start-ups over the last 15 years. The analysis looks at the impact of BioCrossroads’ capital strategy, which includes the development of: $6 million Indiana Seed Fund I in 2006 $8.25 million Indiana Seed Fund II in 2012, and $9 million Indiana Seed Fund III in [...]
Purdue chemistry professor and founder of Inotiv, Dr. Peter Kissinger, honored as 2021 Watanabe Life Sciences Champion of the Year
INDIANAPOLIS (Oct. 13, 2021) — BioCrossroads’ Board of Directors named educator, innovator and researcher Dr. Peter Kissinger as the recipient of the 2021 August M. Watanabe Life Sciences Champion of the Year Award. The prestigious honor, named in tribute to BioCrossroads’ late Chairman August Watanabe, was given to Dr. Kissinger at today’s Indiana Life Sciences Summit. His research has helped patients around the world, and his leadership has contributed to the Indiana life sciences community. An academic, researcher and entrepreneur, Dr. Kissinger is highly recognized for his pioneering work in sophisticated techniques for drug development. He taught at Purdue University for more than 40 years, influencing thousands of students. He has helped guide multiple startup companies, including Prosoila, Phlebotics, Animated Dynamics, and Tymora Analytical. Kissinger teams have enabled painless sampling of laboratory animals that both sped up drug development and reduced the [...]
New report highlights outsized impact of healthcare and life sciences sector in Central Indiana
INDIANAPOLIS (August 25, 2021) – Central Indiana’s1 healthcare and life sciences sector has an $84 billion annual economic impact and directly employs more than 133,000 people and 331,000 workers indirectly, according to a new report. The study from TEConomy Partners, ESSENTIAL: The economic impact of Central Indiana’s healthcare and life sciences sector, examined the influence of decades of investments in the region as well as how the sector provides benefits to Indiana’s other industries such as manufacturing, technology and retail. The report discusses not only the economic measures of capital expenditures, wages and jobs, but also analyzes the non-traditional impacts such as access to healthcare and its influence on economic development. It also points out that the healthcare and life sciences ecosystem is larger than traditional research and development, underscoring the importance of continued investment in the sector. Key statistics [...]
2021 Indiana Life Sciences Summit features global life sciences and healthcare leaders
INDIANAPOLIS (August 4, 2021) – BioCrossroads 2021 Virtual Indiana Life Sciences Summit will feature global life sciences and healthcare thought leaders who will discuss how inclusion and collaboration have changed in the two industries over the last year. The conference is Wednesday, Oct. 13 and the live stream kicks off at 10:00 a.m. Life sciences and healthcare industry speakers include: Dr. Freda Lewis-Hall, former chief patient officer and executive vice president of Pfizer, Inc./consultant at PhRMA Dr. Virginia A. Caine, director, Marion County Public Health Department Dennis Murphy, president and CEO, IU Health Dr. Peter Kim, director, Therapeutics Research Program, Division of AIDS, National Institute of Allergy and Infectious Disease, National Institutes of Health Dr. Anthony Philippakis, chief data scientist, Broad Institute Dr. Richard DiMarchi, distinguished professor of Chemistry and Gill Chair in Biomolecular Sciences, Indiana University Keynotes will be [...]
Event: New Date for BioCrossroads Indiana Life Sciences Summit
The Indiana Life Sciences Summit drives conversations and provides content on important and timely topics with speakers from Indiana’s life sciences community. Coming out of a global pandemic, this year's virtual conference will focus on opportunities for the life sciences sector based on what we've learned, what needs to change and how we innovate moving forward. Local and national thought leaders will provide their insights and perspectives; we will present our annual Watanabe Life Science Champion of the Year award; and we hope to have some surprises, too. Stay tuned for more details and registration information coming in July. For sponsorship information, contact JoBeth Zimmerman. WHEN: Wednesday, Oct. 13, 2021 From 10:00 AM – 1:00 PM WHERE: Online VIRTUAL Event
IIB Perspectives: Renewed Focus on University Tech Transfer Drives Life Sciences Innovation
By: Patty Martin, President and CEO, BioCrossroads Indiana universities and companies have played a vital role in the commercialization of insulin, the treatment of prostate cancer, and a reduction in cancer cases caused by the human papillomavirus, among many other therapeutics. Importantly, Hoosier state universities—Indiana University, Purdue University and Notre Dame—have made significant contributions to medical innovation over the past few decades. All of this, including the boost to Indiana’s economy from this wave of innovation, has been supported and enabled by a little-known law with an enormous impact, the University and Small Business Patent Procedures Act of 1980. The Economist characterized the law, more commonly known as the Bayh-Dole Act, an eponymous shorthand referring to the two senators, Birch Bayh and Bob Dole, who co-authored the legislation, as “possibly the most inspired piece of legislation to be enacted in America [...]
Indiana’s life sciences companies accessed more than $9 billion to grow innovation in 2020 BioCrossroads report details funding sources, deals, investors
INDIANAPOLIS (April 12, 2021) -- In 2020, Indiana’s life sciences companies accessed over $9 billion in capital to grow and support innovation. The funding comes from a variety of sources including Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) awards, venture capital, initial public offerings and related public offerings, and mergers and acquisitions. BioCrossroads today issued their annual report, Indiana Life Sciences Capital 2020, which provides details on the funding events throughout the year. The $9 billion includes: $12.6 million SBIR awarded to 21 companies. $262 million in venture capital invested in 44 companies. $141.8 million accessed through public markets by three companies. $8.6 billion+ spent to acquire innovation, representing nine transactions. The market capitalization for Indiana’s public life sciences companies as of Dec. 31, 2020 was $297.6 billion and includes Eli Lilly and Company, Anthem, Zimmer [...]
