In a year marked by incredible accomplishments, Indiana’s life sciences industry once again demonstrated its capacity for substantial economic contribution and pioneering innovation, successfully securing $5.5 billion in capital investment in 2023, despite global economic challenges.

This funding underscores the state’s resilience and commitment to maintaining a thriving life sciences sector, which contributed $95 billion to Indiana’s economy last year alone.

The breakdown of the 2023 investments is as follows:

  • $8.2 million in SBIR/STTR funding awarded to 17 companies,
  • $287.5 million in Venture Capital invested in 34 companies,
  • $160.7 million accessed through public markets by three companies,
  • Nearly $3.5 billion in mergers and acquisitions related to Indiana life sciences companies,
  • $1.5 billion in capital to establish, expand, or upgrade facilities by eight companies, creating nearly 750 new jobs.
Download PDF
BioCrossroads 2023 Indiana Life Sciences Capital Report