INDIANAPOLIS, (March 25, 2022) — Indiana’s vibrant and diverse 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 the U.S.
The economic impact of the state’s life sciences industry was $79 billion, driven by 2,452 companies, an increase of 170 companies since last year. 58,928 people are employed across the pharmaceutical, medical device/equipment, agbiosciences, research, testing/medical laboratories, and biologistics companies.
Eight hundred ninety-nine patents were granted and 61 new products were approved by the U.S. Food and Drug Administration.
The average wage for the life sciences sector increased to nearly $106,000 per worker, more than double the state’s average wage, delivering a total payroll of $6.2 billion to the state.
Twenty-three companies committed to invest over $500 million and hire 2,100 employees, according to the Indiana Economic Development Corporation.
“Venture firms from across the country are finding great science and leadership here in Indiana, and are supporting it by investing in our most promising start-ups,” said Patty Martin, president and CEO of BioCrossroads. “In addition, the state’s exports and output per worker jumped considerably over the last year.
“Investment and productivity are two of the best indicators of a strong economy, and Indiana’s life sciences industry continues to punch above its weight,” said Patricia Martin, president and CEO of BioCrossroads.
Indiana is home to the global headquarters for: Cook Medical, Corteva Agriscience, Elanco Animal Health, Elevance Health, Eli Lilly and Co. and Zimmer Biomet, and the North American headquarters of Roche Diagnostics. Baxter, Beckman Coulter, Boston Scientific, Catalent, LabCorp, Mead Johnson/ Reckitt Benckiser, and Medtronic all host major operations in the state. In addition, the state has one of the largest and most prominent groups of contract development and manufacturing organizations in the U.S. with companies such as Azenta Life Sciences, Evonik, Exelead, and Inotiv.
About BioCrossroads
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow the life sciences, a public-private collaboration that supports the region’s research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises, expands collaboration and partnerships among Indiana’s life science institutions, expands science education and markets Indiana’s life sciences industry. The initiative has formed several new nonprofit organizations, including Indiana Health Information Exchange, BioCrossroadsLINX, OrthoWorx, Datalys Center and the Indiana Biosciences Research Institute.
This data, generated by the Indiana Business Research Center at the Indiana University Kelley School of Business and BioCrossroads, are the most recent available.
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 for the largest investments: Stevanato Group of Italy and List Biotherapeutics, a subsidiary of South Korea’s Genome & Company. These companies plan to build manufacturing facilities for pharmaceuticals and related delivery devices.
Statewide Growth
New or expanded operations occurred in eleven Indiana cities:
Brownsburg
Carmel
Charlestown
Columbia City
Fishers
Indianapolis
Knightstown
Noblesville
Pierceton
Terre Haute
Warsaw
Orthopedics Leadership
Indiana’s global leadership in the orthopedics sector continues with four companies committing to hire over 230 new employees and invest over $70 million in the Warsaw area. Indiana’s orthopedics footprint expanded with TOMZ, a Connecticut-based company, which built a facility in Knightstown.
Foreign Direct Investment
Indiana was the recipient of inbound investment from eight life sciences companies headquartered in six countries: Australia, Brazil, France, Germany, Italy, and South Korea.
Radiopharmaceuticals
Four companies in the fast-growing radiopharmaceutical sector announced new or expanded facilities in 2021. The companies, which leverage Indiana’s pharmaceutical industry supply chain, central location and logistics infrastructure, plan to invest $30 million in new and expanded facilities and hire 160 new employees.
“Indiana’s life sciences sector continues to experience significant growth,” said Brian Stemme, senior vice president of engagement at BioCrossroads. “World-class companies have taken note of our innovation and workforce, and they are expanding and building new facilities here to take advantage of our strengths.”
Major announcements in 2021 included:
Stevanato Group [NYSE:STVN], an Italian life sciences company, is planning to establish its new U.S. hub in central Indiana. The company will invest up to $145 million to build and equip a 370,000-square foot manufacturing facility in Fishers, Ind. and create more than 230 jobs by the end of 2025. The company, which provides drug containment, drug delivery and diagnostic services for the pharmaceutical, biotechnology and life sciences industries, will use the facility to support the expansion and production of its EZ-Fill solutions.
List Biotherapeutics, a subsidiary of South Korea-based Genome & Company [KOSDAQ: 314130], will invest $125 million in Fishers, Ind. to establish a new 110,000-square foot contract manufacturing facility. The company plans to hire 210 employees in the areas of biologics manufacturing, quality, and regulatory compliance.
Exelead, a manufacturing partner of Pfizer for mRNA vaccines – which recently announced its acquisition by Merck KGaA, – committed to creating more than 130 jobs and investing $41 million in its Indianapolis manufacturing facility.
Knipper and Company, a Charlestown-based biologistics company, announced the expansion of its distribution center. The expansion will consist of an additional 150,000-square feet of space. The company anticipates making a capital investment of $17.4 million and increasing its workforce by 38 employees by the end of 2024.
Genezen Labs, a contract development and manufacturing organization supporting cell and gene therapy companies, will invest $40 million to upgrade its cGMP lentiviral and retroviral production facility in Fishers, Ind.
TOMZ Corporation, a manufacturer of implantable medical devices based in Connecticut, announced the opening of a manufacturing facility in Knightstown, Ind. The company will hire 150 workers and invest $35 million in its new Indiana plant.
Paragon Medical, a global provider of orthopedic products, announced a new additive manufacturing facility in Pierceton, Ind. Located on its existing campus, Paragon will invest $35 million in manufacturing and operational space. The 34,000-square foot facility will be dedicated to 3D printing, leveraging Paragon Medical’s existing machining based across the globe.
Curium, a nuclear medicine company, manufactures and distributes radiopharmaceutical products for medical imaging and therapies. The company plans to invest $10 million in its Noblesville, Ind. facility and add 34 jobs over next three years.
Orano Med, a radiopharmaceutical company headquartered in France, has chosen Brownsburg, Ind. for its second U.S.-based manufacturing facility. Orano Med plans to initially invest more than $15 million to acquire and equip the building. The facility will be used to manufacture and distribute radiopharmaceuticals to treat cancer.
Data compiled by Indiana Economic Development Corporation and BioCrossroads.
About BioCrossroads
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads invests capital and provides support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, 16 Tech, Indiana Health Information Exchange, and OrthoWorx), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.
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 Corporate Partnership (CICP), with participation from the office of Indianapolis Mayor Bart Peterson, Indiana University, Purdue University, Eli Lilly and Company, and the Indiana Health Industry Forum — was to create an intentional, collaborative life sciences network.
Today, 20 years later, the result is a vibrant and unique life sciences community that has increased its economic impact to the state by nearly $50 billion from $32 billion in 2002 to $80 billion in 2022.
Throughout those two decades, BioCrossroads has encouraged growth within Indiana’s life sciences industry through both direct and indirect activities that have advanced Indiana’s standing as a national life sciences leader.
The organization has:
Directly raised over one-half of a billion dollars of market capital and philanthropic funding to identify and pursue promising new Indiana life sciences opportunities
Organized two life sciences venture capital funds — the Indiana Future Fund ($73 million) and the INext Fund ($58 million)
Organized and actively managed the Indiana Seed Fund ($6 million), Indiana Seed Fund II ($8.5 million); and currently manages Indiana Seed Fund III ($9 million). Collectively these three seed funds have invested in 32 companies
Formed ten enterprises to advance signature Indiana life sciences strengths, including the Indiana Health Information Exchange, the Indiana Biosciences Research Center, the 16 Tech Innovation District and OrthoWorx.
Assisted in the attraction of thousands of jobs in life sciences companies establishing, expanding or consolidating operations in Indiana
Supported over 500 start-up companies and collaborations by connecting them with industry partners and capabilities, providing basic business planning guidance, and linking with additional funding sources
BioCrossroads has also been recognized by national organizations including the Brookings Institution and TEConomy Partners for collaborative and innovative efforts to advance and promote the Indiana’s life sciences industry.
According to authors Bruce Katz and Jeremy Nowak in The New Localism – How Cities Can Thrive in the Age of Populism, “We were particularly enamored of CICP’s BioCrossroads, an effort to steer hundreds of millions of private and civic resources towards recruiting talented researchers, building world-class centers of excellence, investing in STEM education in elementary and secondary schools, giving start-up and scale-up companies access to risk capital and developing quality places.”
“The magic combination of Indiana’s depth and breadth of life sciences resources together with BioCrossroads’ focus on catalyzing industry collaboration, creating sources of capital and establishing unique sector assets, including 16 Tech and the Indiana Biosciences Research Institute, has delivered remarkable results,” said Patty Martin, president and CEO of BioCrossroads. “What’s most impressive, though, has been and continues to be the collaboration of people from our founders to our funders to the greater life sciences community who have helped us achieve some impressive goals and have moved the sector to an enviable position.”
About BioCrossroads
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads invests capital and provides support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, 16 Tech, Indiana Health Information Exchange, and OrthoWorx), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.
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 2018
The report also provides examples of funded start-up companies that went on to be acquired by large life sciences corporations. For example, BioLife Solutions acquired Sexton Biotechnologies, a 2019 spin out from Cook Regentech, for $30 million in September. In 2013, Novo Nordisk acquired two companies, Calibrium and MB2, and opened an Indianapolis-based Research Center.
“BioCrossroads’ Seed Funds have fueled Indiana early-stage companies resulting in significant follow-on investments. Results from this capital strategy are bolstering the life sciences industry, which is already a significant contributor to Indiana’s economy,” said Patty Martin, president and CEO, BioCrossroads.
Additionally, BioCrossroads helped organize three fund-of-funds, the $73 million Indiana Future Fund (IFF) in 2003, the $58 million INext Fund in 2008, as well as the State of Indiana’s $250 million Next Level Fund. These funds have invested in more than 19 Indiana companies to date. Those companies have raised in excess of $1.2 billion, and several have proceeded to successful exit transactions totaling in excess of $3.5 billon. For example, Endocyte, one of the first companies funded by IFF, was acquired by Novartis in 2018 for $2.1 billion. Novartis built a $70 million facility in Indianapolis.
Arteaus was founded in 2011 to out-license an early-stage migraine drug discovered by Eli Lilly and Company. The medicine, now on the market with the trade name Emgality, was re-acquired by Eli Lilly in 2014 and generated sales of $362.9 million in 2020 up from $162.5 million in 2019.
“BioCrossroads has been fortunate to participate in the growth of Indiana’s life sciences sector working to connect capital with innovators from our research universities and corporate community alongside our partners at the State of Indiana and financial institutions who are making early-stage investments,” said BioCrossroads’ Seed Fund Nora Doherty. “We are beginning to see a generational impact as innovators move to follow-on opportunities.”
“It’s so important to have experienced talent involved in Indiana life sciences start-ups,” said Kristin Sherman, CEO of Kovina Therapeutics who received funding from Indiana Seed Fund III. “Many company executives who received funding from Indiana fund-of-funds or the BioCrossroads’ Seed Funds have moved on to create and lead new ventures. The ripple effect of these funds is already building the next generation of entrepreneurial companies and talent.” Sherman was the CFO of Calibrium when they received an investment from Indiana Seed Fund II in 2012.
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads invests capital and provides support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, 16 Tech, Indiana Health Information Exchange, and OrthoWorx ), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.
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 numbers of animals required.
In 1974, Dr. Kissinger founded Bioanalytical Systems, Inc., recently rebranded and formally renamed Inotiv, Inc., headquartered in West Lafayette, IN. Inotiv conducts contract preclinical research to support FDA filings and develops instruments and procedures for pharmacology research. It was the first life sciences business in the Purdue Research Park to go public. Kissinger quickly became involved in planning the park itself, where he also co-founded with the Purdue Research Foundation a business incubator called INventure. This was likely the first university-affiliated new business incubator in Indiana.
Inotiv has grown into a leading publicly traded contract research services and instruments provider to the pharmaceutical industry with more than 300 Indiana employees. Inotiv now has operations in Indiana, Maryland, Missouri, and Colorado. Inotiv recently announced the acquisition of Envigo, a leading global provider of research models and services based in Indianapolis. Upon completion, the combination will add additional operations in the USA and Europe.
“The Indiana life sciences landscape would look much different without Peter Kissinger,” said Patty Martin, president and CEO, BioCrossroads. “He is a leader, teacher, mentor, scientist, innovator, and entrepreneur. Dr. Kissinger has been teaching and training tomorrow’s scientists at Purdue University since 1975 and at the same time demonstrating an amazing ability for turning scientific research into commercial success. “
Dr. Kissinger was a finalist for Ernst & Young Entrepreneur of the Year Award in the Indiana Heartland region for 2001 and 2002 and is a recipient of the Outstanding Commercialization Award for Purdue University Faculty. He received a Sagamore of the Wabash in 2019 as well as Purdue’s Wetherill Medal, established to recognize outstanding efforts in service and outstanding teaching and scholarship by its members.
He has served on company and nonprofit boards, including the Indiana Medical Device Manufacturers Council (IMDMC) and the Indiana Health Industry Forum (IHIF). He is a Fellow of the American Association of Pharmaceutical Scientists and the American Association for the Advancement of Science. He has published more than 240 peer-reviewed scientific papers.
Dr. Kissinger is focused on better data for better decisions in preclinical and clinical pharmacology. The data come from valid samples, methods, and instrumentation that few patients will ever see. He notes that “we don’t discover new drugs. Our role is in development, where safety and efficacy in the clinic are the ultimate objectives. We’ve provided support for many successful pharmaceuticals across multiple therapeutic areas for four decades. You won’t see our name at Walgreens or CVS. That’s OK.”
BioCrossroads presents the Watanabe Award annually to an individual or organization that has made or enabled unique achievements in the development of Indiana’s life sciences and healthcare research, clinical, educational or economic advancement.
Dr. Kissinger joins an impressive list of previous August M. Watanabe Life Sciences Champion of the Year award winners, including:
Leonard Betley, retired chairman, president and CEO of the Richard M. Fairbanks Foundation
Richard DiMarchi, Standiford H. Cox professor of Chemistry and the Linda & Jack Gill chair in Biomolecular Sciences at Indiana University. Co-founder of Ambrx, Inc., Marcadia Biotech, Calibrium and MB2.
Dane A. Miller, founder of Biomet
Bill Cook, founder of Cook Group
Lilly Endowment, under the leadership of Chairman Thomas Lofton
Phillip Low, Ralph C. Corley distinguished professor of Chemistry and director of the Purdue Center for Drug Discovery—Biochemistry, co-founder of Endocyte and On Target Laboratories
Bill Eason, founder of Bio-Dynamics, predecessor to Roche Diagnostics
John Lechleiter, former chairman, president and CEO of Eli Lilly and Company
John Swisher, founder of JBS United
Virginia Caine, director of the Marion County Department of Public Health
Anantha Shekhar, former executive associate dean for research affairs at the IU School of Medicine
Clem McDonald, chief health data standards officer of the National Library of Medicine, National Institutes of Health
Harvey Feigenbaum, “Father of Echocardiography” (Echo), distinguished professor, Indiana University School of Medicine.
About BioCrossroads
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow, advance and invest in the life sciences, a public-private collaboration that supports the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads invests capital and provides support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, 16 Tech, Indiana Health Information Exchange, and OrthoWorx ), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.
BioCrossroads announces that Adrienne Brown, vice president of US Diabetes at Eli Lilly and Company, and Alan Palkowitz, PhD, president and CEO of the Indiana Biosciences Research Institute (IBRI) have joined the board of directors.
Brown oversees the commercial efforts for Lilly USA’s largest business unit. Previously, as Business Unit Director – Lilly Japan, she served on the executive team and helped position Lilly Japan as a top-tier pharma company. During this time, she led the Diabetes Business Unit strategy, establishing Lilly as the industry leader in the diabetes market, delivering double-digit revenue growth for several consecutive years.
In Brown’s 17-year career at Lilly, she has directed multiple market-leading pharma brands and has held positions in sales, marketing and strategy. Her passion is to advance care and improve patient outcomes for people around the world.
Dr. Palkowitz has 30 years of experience in drug discovery and development in both industry and academia. In addition to his role at the IBRI, Dr. Palkowitz maintains his role at the Indiana University (IU) School of Medicine as a senior research professor of medicine, where he directs the IUSM-Purdue TaRget Enablement to Accelerate Therapy Development for Alzheimer’s Disease (TREAT-AD) Center. Dr. Palkowitz previously served as the vice president of Discovery Chemistry Research and Technologies at Eli Lilly and Company, where he worked for 28 years.
Additionally, Dr. Palkowitz has served on several prominent advisory committees, including most recently the National Institutes of Health’s National Center for Advancing Translational Sciences Advisory Council and the National Academies of Sciences’ Board on Chemical Sciences and Technology.
“We are delighted to welcome Adrienne and Alan to our board and look forward to benefiting from their combined knowledge, capabilities and energy,” said Patty Martin, president and CEO for BioCrossroads. “Their extensive yet complementary experiences will be invaluable to BioCrossroads as we continue to ignite growth for Indiana’s life sciences industry.”
About BioCrossroads
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow the life sciences, a public-private collaboration that supports the region’s research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises, expands collaboration and partnerships among Indiana’s life science institutions, expands science education and markets Indiana’s life sciences industry. The initiative has formed several new nonprofit organizations, including Indiana Health Information Exchange, BioCrossroadsLINX, OrthoWorx, Datalys Center and the Indiana Biosciences Research Institute.
INDIANAPOLIS, (March 25, 2021) — While COVID-19 made and continues to make the headlines, Indiana’s life sciences industry not only combatted the pandemic with testing, treatments, clinical trials, and vaccine manufacturing but remained committed to innovating and investing throughout 2020. New data provided to BioCrossroads by the Indiana Business Research Center (IBRC) at the Indiana University Kelley School of Business shows a thriving and growing sector. One of the most notable milestones: Indiana is the second highest exporter of life sciences products in the U.S. and has been for more than a decade. In 2020, more than $11.4 billion of products were exported from the state, representing more than $192,000 of output per worker, the highest amount ever recorded.
In addition, Indiana life sciences start-ups garnered a record level of venture capital investment with more than $262 million committed to 44 companies, including MBX, Scioto Biosciences and Wishbone Medical, adding nearly $100 million to 2019’s $171 million invested.
The economic impact of the state’s life sciences industry reached $80 billion for 2020 driven by 2,282 companies across pharmaceutical, medical device and equipment, agbiosciences, research, testing and medical laboratories and biologistics subsectors employing 59,427 people. Ninety-two new products gained approval from the U.S. Food and Drug Administration, according to the IBRC.
“Indiana’s life sciences sector provides large investments in jobs, facilities, and innovation – all of which contribute significantly to the state’s public and economic health,” said Patty Martin, president and CEO of BioCrossroads.
In the recent study from Brookings Institution, State of renewal: Charting a new course for Indiana’s economic growth and inclusion, they refer to the state’s “world-class hub of advanced manufacturing, especially in biopharmaceutical medicines and related products.” It also concludes that the life sciences and manufacturing sectors represent “a crucial source of know-how, leadership, competitive zeal, and good jobs.’”
“Brookings Institution’s assessment of our sector is just further evidence of its importance and our need to continue to focus on advancing the industry,” said Martin.
The average wage for the life sciences sector remained steady at just over $102,000 1 per worker, nearly double the state’s average wage, delivering a total payroll of $6.0 billion to the state.
In 2020, new and existing Indiana companies announced significant hiring and capital investment commitments with a total of $700 million in capital expenditures, including several multi-million projects with hundreds of new jobs, according to the Indiana Economic Development Corporation:
Global pharmaceutical company Novartis announced plans to build an $80 million manufacturing facility in Indianapolis;
Cook Medical announced a partnership with Goodwill of Central and Southern Indiana to develop a manufacturing facility on Indianapolis’ east side, providing up to 100 job, creating training and educational opportunities, and delivering wrap-around services for the community;
Start-up INCOG BioPharma Services committed to a $60 million facility and 150 jobs in Fishers;
Canada’s POINT Biopharma, which announced Indianapolis as their U.S. headquarters, will build a new $25 million manufacturing facility and bring 100 new jobs to the area;
Baxter BioPharma Solutions is investing in a $50 million expansion in Bloomington;
Catalent committed to a $50 million Bloomington expansion and the addition of 300 jobs; and
Elanco announced their decision to keep its headquarters in Indiana with plans to build a $100 million facility in downtown Indianapolis and adding 570 jobs to its current 1,600 positions.
Indiana’s academic institutions continued their transformational research and received high levels of funding from the National Institutes of Health for the 2020 fiscal year:
Indiana University School of Medicine was awarded $213 million, a record amount.
Purdue University was awarded $79.8 million.
The University of Notre Dame was awarded $24.5 million.
Indiana is home to the global headquarters for: Anthem, Inc., Cook Medical, Elanco Animal Health, Eli Lilly and Co. and Zimmer Biomet, and the North American headquarters of Roche Diagnostics. Baxter BioPharma Solutions, Beckman Coulter Life Sciences, Boston Scientific, Catalent Inc., Corteva Agriscience, Covance, DePuy Synthes, Express Scripts, Mead Johnson/Reckitt Benckiser, and Medtronic all host major operations in the state.
About BioCrossroads
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow the life sciences, a public-private collaboration that supports the region’s research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises, expands collaboration and partnerships among Indiana’s life science institutions, expands science education and markets Indiana’s life sciences industry. The initiative has formed several new nonprofit organizations, including Indiana Health Information Exchange, BioCrossroadsLINX, OrthoWorx, Datalys Center and the Indiana Biosciences Research Institute.
This data, generated by the Indiana Business Research Center at the Indiana University Kelley School of Business and BioCrossroads, are the most recent available.
INDIANAPOLIS, (Oct. 29, 2020) — BioCrossroads announced today that the Richard M. Fairbanks Foundation has made a grant of $1.35 million to the organization to continue to advance the strength and opportunities of several collaborative and educational initiatives within Indiana’s life sciences sector. The Fairbanks Foundation is an Indianapolis-based, independent, private foundation focused on the education, health and the vitality of the Indianapolis community.
“The life sciences sector is a key driver of Indiana’s economy, accounting for 20% of the state’s GDP. BioCrossroads plays a critical role helping to create an environment in which this sector can flourish,” said Claire Fiddian-Green, president and CEO of the Richard M. Fairbanks Foundation. “We are pleased to provide continued support for the organization and its key initiatives.”
The two-year grant enables BioCrossroads to continue to advance Indiana’s vitality in the life sciences via research and education initiatives; engagement with partners on the convergence of life sciences and data sciences; and collaboration with the Indiana Clinical and Translational Sciences Institute (I-CTSI), university technology transfer offices, university-based start-ups, and other research institution-oriented projects and programs.
In addition, BioCrossroads has significant ongoing efforts supported by the grant including, working with 16 Tech and the Indiana Biosciences Research Institute (IBRI) and focusing on talent via the life sciences AXIS mentor network and 16 Tech neighborhood STEM programs.
“2020 has certainly increased the awareness and importance of the life sciences,” said Patty Martin, president and CEO of BioCrossroads. “We are so grateful that the Fairbanks Foundation is supporting us to continue our mission to catalyze the ongoing growth of Indiana’s robust and innovative life sciences sector—a sector that supports and benefits Central Indiana’s workforce, economy, and health in substantive and lasting ways.”
About the Richard M. Fairbanks Foundation
The Richard M. Fairbanks Foundation strives to advance the vitality of Indianapolis and the well-being of its people by addressing the city’s most significant challenges and opportunities. The Foundation is focused on three focus areas: education, health and the vitality of Indianapolis. To advance its work, the Foundation implements a three-pronged approach: strategic grantmaking, evidence-based advocacy, and cross-sector collaborations and convenings.
Indianapolis, July 7, 2020 – Indiana’s industry, government, health systems, academia, and digital health startups have tremendous data and technology resources which are driving transformative healthcare and life sciences work locally and globally. To capture all of those assets in a one-stop spot, BioCrossroads today published its Book of Data and Organizations, a directory of Indiana enterprises in the health-data intersection.
The directory includes snapshots of ten organizations who control data assets – data sets, data talent, and/or data technology. The organization profiles answer:
Who has what data? How can this data be accessed?
Where does the data analysis talent reside?
What data technologies and capabilities exist?
What are the key projects currently in process?
What are the future projects and opportunities for engagement?
“Indiana has valuable and innovative life sciences and healthcare data initiatives and organizations that we’re highlighting through this endeavor,” said Darshan Shah, chief data officer, BioCrossroads. “Ideally, this resource reduces the need to seek health data assets outside of the state, to establish more ideal partnerships locally, and to attract outside organizations to collaborate with Indiana-based organizations.”
The Book will be continually expanded and updated both in number of organizations represented as well as depth of information for each organization. It will also grow to describe cross-organizational initiatives where partnerships are critical to success. Additional organizations and initiatives will be added on a rolling basis.
BioCrossroads (www.crossroadshealthventures.com) is Indiana’s initiative to grow, advance and invest in the life sciences, supporting the region’s existing research and corporate strengths while encouraging new business development. BioCrossroads invests capital and provides support to life sciences businesses, launches new life sciences enterprises (Indiana Biosciences Research Institute, 16 Tech, Indiana Health Information Exchange, BioCrossroadsLINX, OrthoWorx and Datalys Center), expands collaboration and partnerships among Indiana’s life science institutions, promotes science education and markets Indiana’s life sciences industry.
BioCrossroads Awards Dr. Clem J. McDonald 2019 Life Sciences Champion of the Year
INDIANAPOLIS, Ind., Sep. 26, 2019 — Today at the Indiana Life Sciences Summit, BioCrossroads’ Board of Directors named Dr. Clem J. McDonald recipient of the 2019 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. McDonald for his unprecedented impact on health IT and digital health in Indiana and abroad.
Previously a distinguished professor of medicine at the IU School of Medicine and director of the Regenstrief Institute for Health Care, Dr. McDonald is known as the “grandfather of EMR” after developing one of the nation’s first electronic medical record systems and the first community-wide clinical data repository, the Indiana Network for Patient Care (INPC), which enables the Indiana Health Information Exchange (IHIE). The INPC has widely contributed to clinical trials research and patient health as well as epidemiologic studies, including the discovery of the association between an antibiotic given to newborns and the development of a digestive issue and the severity and mapping of flu outbreaks.
He was one of the founders of the Health Level 7 (HL7) message standards, used in all hospitals today, and also developed the Logical Observation Identifier Names and Codes (LOINC) database of more than 80,000 universal codes for clinical observations, including laboratory tests, clinical measurements and physician reports. It is used in 172 countries and is available in Chinese, Dutch, Estonian, French, German, Greek, Italian, Korean, Portuguese, Russian, Spanish, and Turkish in addition to English.
Today, Dr. McDonald is Chief Health Data Standards Officer, National Library of Medicine, National Institutes of Health, where he collaborates in numerous efforts to facilitate industry adoption of standard vocabularies in EMR and public health reporting, as required by meaningful use regulations.
BioCrossroads presents the Watanabe Award annually to an individual or organization that has made or enabled unique achievements in the development of Indiana’s life sciences and healthcare research, clinical, educational or economic advancement.
“Dr. McDonald’s impact on health IT and digital health has not only greatly impacted the healthcare delivery system for Hoosiers, but has improved the way we deliver healthcare to patients in every hospital in the country today,” said Patty Martin, president and CEO, BioCrossroads.
Dr. McDonald joins an impressive list of previous Watanabe Life Sciences Champion of the Year award winners, including:
Leonard Betley, retired Chairman, President and CEO of Richard M. Fairbanks Foundation;
Richard DiMarchi, Standiford H. Cox Professor of Chemistry and the Linda & Jack GillChair in Biomolecular Sciences at Indiana University. Co-founder of Ambrx, Inc., Marcadia Biotech, Calibrium and MB2.
Dane A. Miller, founder of Biomet
Bill Cook, founder of Cook Group
Lilly Endowment under the leadership of Chairman Thomas Lofton
Phillip Low, Ralph C. Corley Distinguished Professor of Chemistry and Director of the Purdue Center for Drug Discovery—Biochemistry, co-founder of Endocyte and On Target Laboratories.
Bill Eason, founder of Bio-Dynamics, predecessor to Roche Diagnostics
John Lechleiter, former Chairman, President and CEO of Eli Lilly and Company
John Swisher, Founder, JBS United
Virginia Caine, Director of the Marion County Department of Public Health
Anantha Shekhar, M.D., Ph.D., executive associate dean for research affairs at the Indiana University School of Medicine
“I am honored and touched to receive this award named for Gus Watanabe, who was a great leader and scientist at Indiana University School of Medicine and at Eli Lilly. He was also my boss, mentor and dear friend,” said McDonald. “I am also honored to be in the company of previous award winners who had such strong impacts on our state of Indiana.”
