BioCrossroads has issued a new report showing Indiana’s life sciences companies accessed more than $9 billion in capital in 2020.
The Indiana Life Sciences Capital 2020 annual report shows the funding comes from a variety of sources including federal research and small business grants, venture capital, initial public offerings, and mergers and acquisitions.
“Indiana’s deep and diverse life sciences research and industrial bases are important drivers for Indiana’s overall economic health,” said Patty Martin, president and chief executive officer of BioCrossroads. “The continuing vitality of this sector depends on innovation from diverse research settings — universities, nonprofit research institutes, and industry – which, in turn, are highly dependent on these sources of funding.”
BioCrossroads says life sciences companies raised over $400 million in capital in 2020. The organization says the funding supports the discovery and development of therapies and devices.
“Indiana’s life sciences start-ups had their best year ever for raising venture capital – and eight of these companies raised over $5 million,” said Aaron Gillum, senior vice president of 50 South Capital. “We continue to see our innovations getting attention from the capital markets and investors from across the country.”
Click here to view and download the BioCrossroads report.