Life Sciences Growth Key for New BioCrossroads CEO

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(photo courtesy of BioCrossroads) (photo courtesy of BioCrossroads)

The incoming chief executive officer of BioCrossroads says she hopes to continue the growth Indiana's life sciences sector. Patty Martin, who was announced today as the new president and CEO of the state's life sciences initiative, comes with more than two decades of experience at Indianapolis-based Eli Lilly and Co. (NYSE: LLY). She says she initially plans to spend time getting to know many of the people involved in the sector from the corporate, academic and philanthropic levels.

In an interview with Inside INdiana Business, Martin talked about the importance of furthering the growth of life sciences in Indiana.

"It is so important to the state of Indiana having the life sciences sector as a bedrock really of our economy, of our employment," said Martin. "Honestly, something that I'm not sure people in the state really understand that I've spent a lot of time studying is the history that we have. Lilly will celebrate the 100th anniversary of their role in commercializing insulin in 2023, so we've really been in biopharmaceuticals for 100 years as a state and I think it's a great pivot point to pivot to the next 100 years and see what we can do to grow it. I don't think our own state understands how much we have here let alone everyone else and so it's critical to just leverage that. We have so much good to grow on."

Martin most recently served as chief operating officer of Lilly Diabetes, but held a variety of positions during her tenure at the pharmaceutical giant. She says her background in areas including finance, product development and investor relations will benefit her new job.

"The idea of working cross-functionally...I've got a broad swath of understanding of the different functions that I think will be beneficial. And then, I know quite a few people in the space in Indiana because I've done a number of things outside of Lilly in the community and I'm hoping to be able to tag on those relationships and continue to grow the network that way."

Martin begins her tenure as BioCrossroads CEO on Monday.

Martin talked about the importance of furthering the growth of life sciences in Indiana.
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