Indiana’s life sciences companies were the recipients of major amounts of capital in 2019. A new report from BioCrossroads says businesses in the sector accessed $9.1 billion in capital last year from a variety of sources.
The state’s life sciences initiative $8.6 million in Small Business Innovation Research grants were awarded to 21 companies. Meanwhile, 37 companies received $177 million in venture capital investments, while nearly $179 million was access through public markets by two companies.
Additionally, more than $8.7 billion was spent among eight transactions to acquire innovation.
“Having access to multiple capital investment vehicles fuels Indiana’s diverse and vibrant life sciences industry, which adds to the strength of the sector. There is a lot to be excited about, and more work to do,” said Nora Doherty, Indiana Seed Fund managing director for BioCrossroads and author of the report. “Our innovators, those who support the development of their ideas, as well as those that provide capital to fuel discovery and development, are all critical components to bringing new medical therapeutics and devices to market.”
BioCrossroads says life sciences companies also raised more than $360 million, excluding funding represented by mergers and acquisitions. The funding, according to the organization, supports innovation to discover and develop new therapies for diseases.
This is the first year BioCrossroads has compiled the data for this type of report. You can view the full report by clicking here or in the document below: