New BioCrossroads report highlights significant impact of healthcare and life sciences sector in Indiana

2022-06-15T10:54:04-04:00June 15, 2022|

INDIANAPOLIS (June 15, 2022) –Indiana’s healthcare and life sciences sector has a $150 billion annual economic impact; directly employs one in every ten jobs in the state (more than 383,000 people); and has a substantial presence in the corporate and university sectors, according to a new report. The study from TEConomy Partners, ESSENTIAL: The impact of healthcare and life sciences sector in Indiana, examined the influence of decades of investments in the state 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, [...]

BioCrossroads’ new talent program recognizes the next generation of life sciences leaders 23 PAIRs (Promising Achievers in Innovation and Research) nominations are open

2022-06-02T12:04:16-04:00June 2, 2022|

INDIANAPOLIS, (June 2, 2022) -- People are the most valuable resource to Indiana’s life sciences sector -- those who are innovating, discovering, developing and delivering critical pharmaceuticals and biotech products, medical devices, equipment, and diagnostics as well as researching and creating new protocols to accelerate getting life improving and lifesaving products to patients all over the world. BioCrossroads today announces 23 PAIR (Promising Achievers in Innovation and Research), a new recognition program that will celebrate and promote the state’s next generation of life sciences leaders. Criteria for the award includes that a nominee should: Work at a life sciences company or be an academic researcher within Indiana’s life sciences ecosystem Demonstrate significant industry or academic impact and success Have full-time employment or other work-and-learn experience such as an internship, co-op, or research position Experience of 10 years or less in the [...]

Indiana’s life sciences companies accessed more than $15 billion to grow innovation in 2021

2022-04-19T08:03:19-04:00April 19, 2022|

INDIANAPOLIS (April 19, 2022) - More than $15 billion of capital was accessed by Indiana’s life sciences companies in 2021. BioCrossroads today issued their annual report, Indiana Life Sciences Capital 2021, which provides details on the funding events throughout the year, including: $6.5 million in Small Business Innovation Research (SBIR) awards to 17 companies A record $433.5 million in Venture Capital invested in 39 companies $508 million accessed through public markets by four companies $13.7 billion+ spent to acquire innovation representing 13 transactions $521 million in capital to establish, expand, or upgrade facilities by 23 companies Most noteworthy were the increases in venture capital and merger and acquisition amounts. Indiana had 39 life sciences companies raise $433.5 million in 2021, an increase of almost $200 million over 2020. Investments ranged from a low of $20,000 to a high of over $200 [...]

BioCrossroads releases 2021 annual report

2022-03-28T09:34:42-04:00March 28, 2022|

In addition to global health contributions through medical innovations such as the manufacturing of three COVID-19 vaccines, Indiana’s vibrant and unique life sciences industry continues to make a significant impact on the state through its economic strength, contributing more than $79 billion in 2021. In 2021, BioCrossroads focused on collaborations among industry, academic, government and philanthropy; building the entrepreneurial ecosystem through seed investments; and establishing unique sector assets, such as sector-focused educational and market knowledge reports and analysis. In addition, a partnership with the Indiana Economic Development Corporation resulted in world-class companies expanding and building new facilities in the state to take advantage of life sciences assets. Talent also remains central to growth in Indiana’s life sciences sector, and BioCrossroads is highlighting young talent and growing companies through the Career TraX project. [READ ANNUAL REPORT]

Capital investments and productivity drive growth in Indiana’s life sciences industry in 2021

2022-03-25T15:20:47-04:00March 25, 2022|

INDIANAPOLIS, (March 25, 2022) -- Indiana’s vibrant and unique life sciences industry continues to make a significant impact on the state, contributing more than $79 billion in economic impact in 2021. A record amount of venture capital was raised by Indiana start-ups for the second straight year – increasing from $262 million in 2020 to $434 million in 2021. In addition, the value of exports per worker grew by almost $25,000 – from $192,000 in 2020 to nearly $217,000 in 2021. BioCrossroads today unveiled its latest economic statistics for Indiana’s life sciences, provided by Indiana Business Research Center (IBRC) at the Indiana University Kelley School of Business. Other key indicators and statistics for 2021 include: More than $12.7 billion of products were exported from the state, the highest amount ever recorded. Indiana has the third highest amount of exports in [...]

IIB: BioCrossroads Celebrates 20 Years of Growing State’s Life Sciences Sector

2022-03-07T08:15:39-05:00March 7, 2022|

BioCrossroads, the life sciences initiative of the Central Indiana Corporate Partnership (CICP), is marking 20 years of growing the sector in Indiana. In that time, the life sciences sector in the state has grown to be an $80 billion industry. BioCrossroads has also invested in more than 500 startups through three venture capital funds. BioCrossroads President and CEO Patty Martin recently talked with Inside INdiana Business host Gerry Dick about the past 20 years and what is next for the sector. [WATCH] (Source: Inside INdiana Business, BioCrossroads)

BioCrossroads celebrates two decades of advancing Indiana’s life sciences sector

2022-02-14T10:36:13-05:00February 14, 2022|

INDIANAPOLIS (Feb. 14, 2022)  ̶  Back in the early 2000’s no one had a doubt that Indiana was home to world-class life sciences assets, but the community was missing the opportunity to collectively advance its strengths. A coalition of organizations and business leaders decided to ensure that Central Indiana and the entire state, took advantage of the sector. With a more than 100-year legacy of life sciences with companies including Eli Lilly and Company, Roche Diagnostics, Cook Medical and Zimmer Biomet; a significant number of contract research and manufacturing organizations; an emerging start-up community; and three research universities, there was a lot to be gained by having the sector work collaboratively. On February 13, 2002, these stakeholders officially established the Central Indiana Life Sciences Initiative (CILSI), which would ultimately become BioCrossroads. The goal of the group—managed by the Central Indiana [...]

Pharmaceutical investments lead 2021 life sciences growth in Indiana

2022-02-02T08:48:08-05:00February 2, 2022|

INDIANAPOLIS (Feb. 2, 2022)  ̶  In 2021, Indiana’s life sciences industry experienced strong growth in the attraction and expansion of companies across the state. Twenty-three companies committed to invest over $500 million and hire 2,100 employees. Of those 23 companies, nine committed to invest over $10 million each and two others will invest over $100 million in new Indiana facilities. Pharmaceutical and medical device companies collectively contributed 75% of the new life sciences job commitments and 94% of the projected capital expenditures. “Indiana continues to experience extraordinary growth in life sciences, thanks in part to the state’s strategic partnership with BioCrossroads,” said Indiana Secretary of Commerce Brad Chambers. “There is still enormous potential to exponentially augment 2021’s industry investment of $500 million because of Indiana’s innovative initiatives, nationally-ranked universities, and low cost of living.” Two companies, new to Indiana, account [...]

BioCrossroads’ seed capital strategy connects funding with innovation

2021-10-27T18:20:35-04:00October 27, 2021|

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

2021-10-14T10:57:41-04:00October 13, 2021|

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 [...]

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