Broecker: Research Institute Making Progress

The new chief executive officer of the Indiana Biosciences Research Institute says his immediate focus is to “operationalize” the center. David Broecker says the institute has signed a lease to move into a temporary facility north of Indiana University's medical school campus. He says about $50 million of the needed $350 million has been raised for the overall effort. Broecker says he has been “employee number one” since the center was announced in 2013. He had been serving as president and chief operating officer. He also previously served in leadership positions at Eli Lilly and Co. (NYSE: LLY) in Indianapolis and Massachusetts-based Alkermes PLC (Nasdaq: ALKS).

BioCrossroads, Indiana's life sciences initiative, says the sector has an estimated $55 billion impact on the state economy. The organization also says the state's nearly 2,000 life sciences-related companies make products that account for one-third of all Indiana exports.

Maryland-based real estate development firm Wexford Science and Technology is leading site selection and development activities. Broecker says he hopes to have a permanent home for the institute in place in a matter of years.

Source: Inside INdiana Business