$5M Grant Boosts Drug to Prevent Diabetes-Related Amputations
atients who have undergone a diabetes-related amputation currently face a terrifying prognosis: only 50 percent survive one year after losing the limb, says University of Notre Dame Chemistry and Biochemistry research professor Dr. Mayland Chang.
BASi to Rebrand Part of Its Expanding Business
WEST LAFAYETTE, Ind. -- West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) has launched a rebranded contract research services business, Inotiv. The company says the rebrand represents the union of several acquisitions it has made over the past two years.
High-Tech Life Sciences Firm to Build in Miami County
Bunker Hill, a town of about 900 people near the Grissom Air Reserve Base in Miami County, has landed a multi-million-dollar life sciences company, which could create up to 40 high paying jobs by the end of 2022. Phoenix-based Arizona Isotopes Research Corp. has announced plans to establish research and production operations in north central Indiana.
Noblesville Company Expanding, Adding Jobs
NOBLESVILLE, Ind. -- A medical device manufacturer in Noblesville is growing. The Indiana Economic Development Corp. says Nexxt Spine LLC, which designs and manufactures spinal implants and instrumentation, plans to invest nearly $9 million to double the size of its headquarters and create up to 36 jobs by the end of 2022. The company will purchase, renovate and equip and industrial building in the Saxony Corporate Campus. The renovations are set to begin in June 2020 and be complete...
Unlocking Data to Deliver Infant Mortality Solutions
A battle plan—with data as the driving force—is being created in Fort Wayne to combat Indiana’s high infant mortality rate, the seventh highest in the country. Governor Eric Holcomb named Allen County among 20 “high priority” counties to launch OB Navigator, a statewide initiative to build better health for Hoosier mothers and babies.
Funding Boosts Simple Tests for Parkinson’s, Alzheimer’s
Parkinson’s disease is a grim diagnosis; it’s typically not detected until a person exhibits the characteristic tremors, when it’s progressed too far to slow the condition. West Lafayette-based Tymora Analytical Operations envisions a routine urine test that would spot Parkinson’s early, when medication and other strategies can slow its progression.
Franklin Biotech Firm to Celebrate Expansion
Executives from Franklin-based B2S Life Sciences LLC will be joined by state and city officials Wednesday to celebrate its $1.5 million expansion project. The company announced plans last year to grow its Johnson County, operations by renovating its facility and adding 9,000 square feet of laboratory space.
Abbott Labs to Invest $37M in Westfield, Create 450 Jobs
Global healthcare company Abbott Laboratories (NYSE: ABT) has announced plans to invest $37 million in a new facility in Westfield, creating approximately 450 new jobs. The 120,000-square-foot facility will be built in the Northpoint Industrial Park along U.S. 31 in Westfield. The Chicago-based medical device maker says the facility will manufacture its MitraClip transcatheter mitral valve repair system. Construction is set to begin later this year. The company says hiring...
Roche Diagnostics Names North American CEO
Roche Diagnostics Corp. has selected Matthew Sause as president and chief executive officer of its North America operations, headquartered in Indianapolis. Sause previously served as senior vice president and head of global commercial product strategy for California-based Gilead Sciences Inc. (Nasdaq: GILD).
Biomedical Firm to Expand in Plainfield
Virginia-based LifeNet Health says it intends to expand its presence in Plainfield with the addition of more than 100 jobs. The biomedical firm says it is investing more than $18 million as it expands in Indiana. LifeNet Health’s 70,000-square-foot biologics logistics center is already operational and currently employs 45 people. The plan is to grow its staff by up to 127 employees by the end of 2023. Elaine Bedel, president of the Indiana Economic Development...
Life Science Companies Launch Information Source
Seven life science organizations in Indiana are collaborating on a one-stop shop for information, called INscience. BioCrossroads, Cook Regentec, Corteva Agriscience, Eli Lilly and Co., Indiana Biosciences Research Institute, Indiana Clinical and Translational Sciences Insititute and Roche Diagnostics have teamed to educate and engage Indiana's $78 billion life sciences economy.
Purdue Foundry to Showcase First Accelerator Cohort
The Purdue Foundry is set to unveil its first cohort for the Double Down Experiment, which includes nine high growth businesses the organization says are ready to reach the next level. The Purdue Foundry is co-hosting The Big Show, to showcase the innovators and business builders selected for the program.
BraunAbility Opens New Carmel Headquarters
An Indiana company that specializes in wheelchair lifts and van conversions so they’re wheelchair-accessible has announced plans to increase the number of workers with disabilities. BraunAbility made that announcement as it opened its new global headquarters in Carmel.
Grant Creates IU Alzheimer's Center
The National Institutes of Health has awarded a $36 million grant to the IU School of Medicine to launch a drug discovery center focused on accelerating the development of treatments for Alzheimer's disease. The center is part of a strategic partnership with the Purdue Institute for Drug Discovery, and IU says the partnership is one of only two multi-institution teams in the country selected for a new federal program designed to grow the drug development pipeline for the disease.
New BioCrossroads Challenge Combines Life Sciences, Data
Indiana's life sciences initiative is launching a new competition designed to help solve two health issues facing Hoosiers: diabetes and opioid abuse. BioCrossroads says the DataX BioInnovation Challenge was created to "intersect life sciences and data research," giving innovators the opportunity to use data sets to identify and investigate hypotheses to improve the health issues. The winning team or teams could receive up to $50,000 cash. In an interview with...
'Grandfather of EMR' Named Life Sciences Champion
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.
Latest 3D-Printed Device Boosts Nexxt Spine
An orthopedic medical device company in central Indiana that has been quietly growing for the last two decades admits “we’re a big secret, but we don’t mean to be.” Noblesville-based Nexxt Spine has launched its latest product and is aiming to “spread the word” about its growing device portfolio.
Pain During Pregnancy: IU Examines Impact of Prescribed Opioids
Studies have already uncovered the dangerous impact on babies when mothers have opioid abuse disorder, and other research has examined the use of opioids to treat opioid abuse disorder. However, Indiana University scientists are now addressing an unanswered question: what about expectant mothers who are prescribed the medications to treat pain?
Carmel Entrepreneur Invents ‘Google of Microbes’ Software
There is much excitement surrounding microbes in life sciences research—and for good reason. Dr. Rajesh Perianayagam says scientists have discovered 17 microbiome-related cures and therapies for an equal number of diseases. But this flurry of excitement—and the recent proliferation of genetic sequencing technology—is drowning scientists in data.
Showcasing Indiana at Forbes AgTech Summit
National and global leaders in the worlds of agriculture, technology, and science have closed out the 2019 Forbes Ag Tech Summit in Indianapolis, now in its second year in the state. The event gathered industry leaders and entrepreneurs who are looking for answers to the challenges of growing and producing food. The two-day summit, hosted by AgriNovus Indiana, addressed food animal health, protein and crops.
Indy Biotech Firm Wants to Change Rx Delivery
Indianapolis-based Toralgen Inc. says it has raised nearly $2 million in seed funding for what the company calls its transformative drug delivery tool. The biotechnology firm is attempting to commercialize a nanopill system, a microscopic-sized dose of medication, for diabetes control and other diseases.
IU Ventures Invests $500K in Medical Biotech Firm
Carmel-based MBX Biosciences Inc. has received a $500,000 investment from the Indiana University Philanthropic Venture Fund. The medical biotech firm, whose founders include high-profile inventor Dr. Richard DiMarchi, has developed therapeutics to treat endocrine diseases.
Law Firm Investigating Zimmer Biomet
A California-based shareholder rights litigation firm is investigating Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH). The Schall Law Firm says its investigation, being conducted on behalf of Zimmer Biomet investors, is related to claims of failing to disclose information pertinent to investors.
IUPUI Researcher to Study Quality of Life in Cancer Patients
An IUPUI psychologist has been awarded a nearly $2 million grant from the National Cancer Institute for her research to help cancer patients, in advanced stages of the disease, to still find quality of life while accepting the eventual outcome. The university says Professor Catherine Mosher is investigating a novel acceptance-based approach of facing the disease, while fighting the fatigue and other systems seen in late-stage cancer patients.
Indiana-Made App Targets Hoosier Health, Research
An Indianapolis-based tech company and a research powerhouse are combining forces to put health at Hoosiers’ fingertips with a new mobile app. While the market may seem saturated with health apps, the creators of LIFE Extend—tech startup LifeOmic and the Indiana Clinical and Translational Sciences Institute (CTSI)—believe the new tool is one-of-a-kind.
Micropulse on the Grow Again
Micropulse Chief Executive Officer Brian Emerick says any other manufacturer can make the same orthopedic devices as his company; instead, the blueprint for success at the Columbia City-based contract manufacturer centers on culture. Micropulse, which started 31 years ago in his garage, has produced steady, incremental growth “organically, by word of mouth and brand,” and Emerick believes the strategy is delivering again with a $6.8 million expansion.
$1.8M Grant Boosts Biologist’s Disease-Fighting Research
Focusing on “the deadliest animal on Earth,” an Indiana University biologist is trying to cripple a dangerous killer: the mosquito. While mostly just a nuisance swatted away in the U.S., IU Biology Associate Professor Dr. Irene Newton says, “you can think of the mosquito as the apex predator on the planet, because the diseases it carries kill so many people.”
PU Prof Targets Hospital-Acquired Infection
Among hospital-acquired infections, MRSA gets most of the attention, says a Purdue University researcher; this leaves the second most common hospital-acquired infection lurking in the shadows. Vancomycin-resistant enterococci (VRE), similar to MRSA, is characterized by its antibiotic resistance, making it especially dangerous and difficult to treat.
Elanco to Acquire Bayer AG Animal Health Business
Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has entered into an agreement with Bayer AG (ETR: BAYN) to acquire its animal health business in a deal valued at $7.6 billion. If approved, it would double Elanco’s Companion Animal business and create the second-largest animal health company by revenue. “Joining Elanco and Bayer Animal Health strengthens and accelerates our IPP strategy, transforms our portfolio with the addition of well-known pet brands, brings...
Noblesville Company Receives FDA Clearance
Noblesville-based Nexxt Spine LLC has received clearance from the U.S. Food and Drug Administration for its NEXXT MATRIXX Stand Alone Cervical System. The system is a "stand-alone anterior cervical interbody fusion system" intended to be used for treatment of degenerative disc disease.
Report: Elanco, Bayer Deal Could Come Soon
A new report from Bloomberg says an agreement between Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) and Germany-based Bayer AG could be announced as soon as next week. The news service reported Wednesday the two companies are looking to announce a deal involving Bayer's animal health unit around the time of Elanco's earnings release, which will take place Tuesday. Bloomberg, citing sources who asked to not be identified due to the private nature of the discussions...
Medical Device Maker Growing in Whitley County
A Whitley County-based medical device manufacturer is expanding its northeast Indiana operation and adding about two dozen jobs. Columbia City-based Micropulse Inc., says it is investing $6.8 million to expand, equip and better utilize its 160,000-square-foot facility.
Medical Device Maker Growing in Whitley County
A medical device manufacturer in Whitley County is growing its operations. Micropulse Inc. has announced plans to invest nearly $7 million to expand its Columbia City facility and create up to 25 jobs by the end of 2020. The Indiana Economic Development Corp. says the company will add 15,000 square feet to its 160,000-square-foot facility, while also renovating 3,000 square feet of existing space to make it "better suited for growth." The company says the project will allow...
Soil Sampling Robot Lands $200K, Grows Fleet
Farmers spend big bucks on fertilizer; a West Lafayette-based startup says it’s typically the third highest per-acre expense. Farmers rely on soil sampling—typically done by hand—to determine how much fertilizer to apply to their fields and where to spray it.
Demand for Liposomes Launches $25M Exelead Expansion
Indianapolis-based Exelead specializes in small, but it means big business. The contract development and manufacturing company makes the final formulations for drugs that treat rare and small populations; “large-scale pharmaceutical companies wouldn’t touch some of the products we manufacture, because of scale,” says Chief Executive Officer John Rigg.
UTI Sensor for Diapers Nears Commercialization
Urinary tract infections (UTIs) are one of the most common infections in elderly and children, yet these two groups may also be unable to alert caregivers when they have symptoms. A Purdue University researcher has developed a tool to safeguard against children and elderly suffering from the elusive infections.
Lilly Swings to Quarterly Profit
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is reporting second quarter net income of $1.3 billion, compared to a net loss of $260 million during the same period last year. The company says the results were driven, in part, by several U.S. Food and Drug Administration approvals.
Elanco Finishes Deal on Pet Therapeutics Purchase
Greenfield-based Elanco Animal Health Inc.(NYSE: ELAN) completed its purchase Thursday of Aratana Therapeutics (Nasdaq: PETX), a pet therapeutics company located near Kansas City. As Inside INdiana Business first reported Tuesday Aratana shareholders voted overwhelmingly in favor of the $245 million deal.
Report: Elanco, Bayer in Merger Talks
Just four months after finalizing its split with Eli Lilly and Co. (NYSE: LLY), Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reportedly in talks with Germany-based Bayer over a possible merger with its animal health division. According to Reuters news service, the two companies are working with banks to ensure any merger would receive regulatory approval. Elanco was part of Lilly for six decades until it was spun off into an independent public company last fall.
Eli Lilly Announces Leadership Changes
Eli Lilly and Company (NYSE: LLY) has announced several changes to the company's executive committee. Mike Harrington is retiring from his positions of senior vice president and general counsel at the end of the year. Senior vice president and president of Lilly Bio-medicines, Christi Shaw, is leaving Lilly at the end of August, and will be succeeded by current president and general manager of Lilly Japan, Patrick Jonsson.
IU Team Continuing Bone Study in Space
A team of researchers from the Indiana University School of Medicine in Indianapolis will Tuesday begin the second phase of an experiment heading to space. The research project will study the effect of spaceflight on osteoblast cells, which are essential to bone development, as well as the effects of certain drugs on bone healing. Melissa Kacena, director of basic and translational research at the school, is leading the effort in collaboration with NASA and the U.S. Army. The first...
Catalent to Break Ground on Expansion
State and local officials will Friday join executives from New Jersey-based Catalent Inc. (NYSE: CTLT) to break ground on a new drug product manufacturing facility in Bloomington. The project is part of a $100 million expansion announced in January that is expected to create up to 200 jobs by the end of 2024.
$9M Microscope Advances Scientists Statewide
Twenty-six extremely fragile crates—including one that must remain in a vacuum—will soon be shipped from the Netherlands. Their destination: the Purdue University campus, where the contents will be pieced together to form a state-of-the-art $9 million microscope.
Munster Teen With 2 Patents & Forbes Ranking, Earns Governor STEM Award
A quick glance at Annie Ostojic’s Facebook page is evidence that she isn’t your average teenager—it sings of impressive scientific conquests: pictures of her when she was named to Forbes 30 Under 30 (when she was only 15), World’s 50 Smartest Teens, and shows Ostojic under the spotlight, presenting centerstage at national conferences.
$4.1M ‘Cancer Moonshot’ Grant Powers IU Researcher
Immunotherapy is described as a revolution, uncovering cures for a variety of cancers. Most of the progress has benefited adults battling the disease, but a recent $4.1 million Cancer Moonshot grant is helping a Hoosier researcher extend the power of immunotherapy to children and adolescents.
Life Sciences Growth Key for New BioCrossroads CEO
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...
Lilly Exec Named BioCrossroads CEO
After a national search, BioCrossroads has announced Patty Martin will become the life science initiative's next president and chief executive officer. Martin, who most recently served as chief operating officer for Lilly Diabetes, will begin her new role Monday. She will become just the third CEO in the organization's 17-year history, and succeeds David Johnson, who in December announced plans to step down from the role to serve as president and CEO of the...
Zimmer Biomet Announces CFO Succession Plan
Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) has announced a succession plan for retiring Executive Vice President and Chief Financial Officer Daniel Florin. He is set to retire on July 1 and the company has announced Suketu Upadhyay has been appointed to succeed Florin. The company says Florin will continue with the company in an advisory capacity to ensure a successful transition.
Minar Touts Science Center Ahead of Stepping Down
As Franklin College President Thomas Minar prepares to step down at the end of the 2019-2020 academic year, he says the school is well-prepared to leverage its science heritage well into the future. During an interview on Inside INdiana Business With Gerry Dick, he says the school's new $17 million Health Science Center features "the most modern science facilities imaginable." Minar, who has been the school's president since July 2015, says a fundraising campaigning topping...
New Compression Device Aims to ‘Squeeze’ the Competition
A Fishers-based company says it’s creating a replacement for “one of the most universally-hated products” among surgical patients. Although detested, intermittent pneumatic compression (IPC) devices are required after the vast majority of surgeries; worn on the calf from knee to ankle, the sleeves squeeze the legs every 60 seconds, increasing blood flow to prevent clots due to immobility.
BASi Swings to Quarterly Loss
West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting a fiscal second quarter net loss of $569,000, compared to net income of $66,000 during the same period last year. Despite the drop, the pharmaceutical development company saw a 60 percent increase in revenue for the quarter.
Covance Plans to Grow Indy Operation
A subsidiary of New Jersey-based Covance Inc. is looking to grow its Indianapolis footprint. Covance Central Laboratory Services Inc. plans to invest nearly $17.5 million to expand its operations on the city's west side and add more than 200 jobs. According to documents filed with the city, the drug development and global contract research company is looking to renovate 20,000-square-feet of existing space into a state-of-the-art trial testing laboratory and construct an...
WishBone Medical Acquires Plymouth Company
Warsaw-based WishBone Medical has acquired a medical device manufacturer in Marshall County. Financial terms of the deal for Plymouth-based CSpine Inc. are not being disclosed, however a spokesperson for WishBone tells Inside INdiana Business no jobs will be affected.
Elanco Quarterly Profit Narrows
Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reporting first quarter net income of $31.5 million, down from $72.7 million during the same period last year. Despite the drop, Chief Executive Officer Jeff Simmons says the company is seeing improved value through efficiencies and cost savings.
More Techshot Equipment Arrives at Space Station
More research equipment from Greenville-based Techshot Inc. has made its way to the International Space Station. The equipment, which launched Saturday aboard an uncrewed SpaceX cargo resupply spacecraft, contains experiment modules to be used in a Massachusetts Institute of Technology tissue chip experiment.
LifeOmic Launches LIFE Fasting Tracker
Indianapolis-based startup LifeOmic has created an app to help people adopt the practice of intermittent fasting. Don Brown, founder and chief executive officer, says the practice isn’t only for losing weight, but can help participants reduce risk of Alzheimer's disease and Parkinson's. Brown, who previously founded and sold Software Artistry and Interactive Intelligence, says the idea for the LIFE Fasting Tracker came from a cloud platform he used at...
BASi Acquires Smithers Avanza Toxicology Services
Bioanalytical Systems Inc. (NASDAQ:BASI) has announced its acquisition of the business unit of Smithers Avanza Toxicology Services, a contract research organization located in Maryland. The acquired business will operate as a wholly-owned subsidiary of BASi under the name BASi Gaithersburg.
Lilly Reports Higher Profit, Cuts Guidance
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is reporting net income of $4.2 billion in the first quarter of 2019, compared to $1.2 billion during the same quarter last year. The increase was driven by the spin-off of Elanco Animal Health. The drugmaker has also cut its 2019 revenue guidance to between $22 billion and $22.5 billion, due in part to expected lower revenue for Cialis and other products that have lost patent exclusivity as well as the withdrawal of cancer drug...
New Data Puts FAST BioMedical ‘On the 15-Yard Line’
Doctors in critical hospital settings make judgement calls—sometimes life or death decisions—based on information, but there’s one stat that has been notoriously difficult to obtain, says Carmel-based startup FAST BioMedical. Doctors are clamoring for a better way to determine a patient’s blood volume, an important measurement that can dictate treatment in the critical care setting.
Acacia Pharma, Outpost Medicine Shaping Startup Scene
Life sciences experts believe Indiana’s resume of successful pharmaceutical startups sets the stage for the next generation of young companies to follow in their footsteps; among the state’s young pharma proteges are Outpost Medicine and Acacia Pharma Inc.
Profit Grows For Zimmer Biomet
Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting first quarter net income of $246 million, up from $176 during the same period last year. Despite the increase, the medical device manufacturer says it saw a more than 2 percent drop in net sales, largely due to the effect of foreign currency exchange.
Elanco Makes Major Acquisition
Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is adding to its portfolio with a major acquisition. The company has announced plans to acquire Kansas-based Aratana Therapeutics (Nasdaq: PETX) in a deal valued at up to $245 million. In conjunction with the acquisition, Elanco has also announced the formation of a commercial team dedicated to the veterinary specialty business. Elanco says the deal would allow it to integrate the Aratana portfolio of pet therapeutics into its...
IBRI Chief Steps Down, Takes New Role
The Indiana Biosciences Research Institute has announced Chief Executive Officer and Chief Scientific and Innovation Officer Rainer Fischer has stepped down from both roles. The institute says Fischer, who came to Indianapolis in 2017, will remain as a senior executive for innovation and discovery. The IBRI did not provide a reason for Fischer's decision to step down. In his new role, Fischer will work to attract new partners for sponsored and contract research, as well as new...
Catalent Bullish on 'Red Hot' Sector
When Bloomington-based Cook Group Inc. announced the sale of its Cook Pharmica unit to New Jersey-based Catalent Inc., company executives promised to "invest aggressively" in creating a leader in the rapidly-growing biologics sector. Eighteen months later, there is ample proof they meant it. Catalent has announced major expansion projects in recent months totaling $114 million in investment. Employment at the Monroe County facility, which stood at 270...
PU Proves Service Dogs Impact Handlers’ Psyche
“Service dog” is the official name for the four-legged companion that assists a handler who has a physical disability—but many would argue best friend, companion or lifesaver are more accurate terms. However, the animals’ positive impact is only anecdotal and lacks validity in the world of science.
Sen’s Research, Vision Position Indiana to Lead Regenerative Medicine
Regenerative medicine has “crossed the chasm of impossible to possible,” says a nationally-renowned expert who is leading the charge in Indiana to trailblaze the “new horizon in medicine.” Indiana University School of Medicine (IUSM) Associate Vice President of Research Dr. Chandan Sen believes the new frontier will dominate the practice of medicine within a decade.
$8M Investment Boosts Diet-Friendly Foods
Sweet treats and fried foods that are low in fat and calories may seem a dieter’s dream, but that’s Indianapolis-based Epogee’s mission, and it’s now backed by millions. The startup recently earned an $8.3 million investment from HG Ventures, also based in Indianapolis.
Startup Day Brings Federal, Local Officials Together
Local, state and federal leaders gathered at the Regenstrief Institute in Indianapolis this week to discuss innovations in healthcare and technology in Indiana. Indiana Startup Day included remarks from Ed Simcox, chief technology officer for the U.S. Department of Health and Human Services and also spotlighted seven Indiana healthcare startups. Brian Dixon, director of public health informatics for the Regenstrief Institute, says the goal of the event was for federal officials...
ResearcHERS to Boost Women Fighting Cancer
Indiana is taking part in an American Cancer Society effort looking to fuel women-led cancer research. ResearcHERS: Women Fighting Cancer aims to raise funds to support women researchers and boost programs to inspire the next generation of girls to pursue science careers. Organizers say they are looking for "ambassadors" to help meet the goal of raising $160,000 in the inaugural year of the program. Campaign co-chair Jill Geer, who is chief marketing officer at the American...
Lilly Seeks Tax Abatement on $90M Project
Indianapolis-based Eli Lilly and Co. (NSYE: LLY) is seeking a nearly $10 million tax abatement for a $90 million project to build and equip a facility to house insulin research and production. A City-County Council committee Monday approved the proposal, with a full council vote set for next week. The company is not committing to any new jobs as part of the project. Lilly says the project will allow it to keep up with peak and backup capacity demands for insulin products.
Life Sciences Workforce, Wages Increase
Indiana's life sciences initiative is boasting a strong 2018 for the sector, reporting year-over-year increases in areas including workforce, wages, exports and venture capital funding. BioCrossroads says the state's life sciences industry's economic impact is now at $79 billion. The report shows the sector supports more than 56,000 jobs in the state with an average annual wage of over $97,000. Vice President of Communications Lori LeRoy says Indiana "maintains (its) standing as...
OrthoPediatrics Loss Widens, Despite Record Revenues
Warsaw-based OrthoPediatrics Corp. (Nasdaq: KIDS) is reporting a full-year net loss of $12 million in 2018, compared to a loss of $8.9 million the previous year. Despite the drop, the pediatric medical device manufacturer says it hit record revenue for the year.
Hoosier Startup Growing in West Lafayette
A West Lafayette-based startup has announced plans to scale its Indiana operations. Pinpoint Pharma, which specializes in custom compounded medication for pets, says it will invest $240,000 in lease, renovate and equip new lab space in the Tippecanoe County city and create up to 27 jobs over the next few years. Pinpoint Pharma is one of the first five Hoosier startups to take part in the gBETA accelerator program. The Indiana Economic Development Corp. says the company...
Lilly Granted Priority Review For Headache Treatment
Indianapolis-based Eli Lilly and CO. (NYSE: LLY) says one of its headache treatments is moving closer to approval. The U.S. Food and Drug Administration has granted Priority Review for a drug to be used for the preventative treatment of episodic cluster headache in adults.
Lilly to Roll Out Lower-Priced Insulin
In response to ongoing pressure from Congress regarding the cost of insulin, Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced plans to roll out a lower-priced version of its insulin product Humalog. The company says the authorized generic version will have a list price 50 percent lower than the current Humalog price. Lilly says it is working to make Insulin Lispro available in pharmacies "as quickly as possible." It says a single vial will list at...
More Workers to Wage War Against Opioid Epidemic
Hoosiers in the grip of substance use disorder—especially related to opioids—have faced a shortage of professionals they can turn to for help, but a new project aims to produce more dually licensed clinical social workers specifically trained to battle Indiana’s opioid epidemic.
Lilly Completes $8B Acquisition
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has completed its $8 billion acquisition of Loxo Oncology Inc. (Nasdaq: LOXO) in Connecticut. Loxo Chief Executive Officer Josh Bilenker says the deal will allow the company to realize the full value of its pipeline of medicines.
BASi Profit Falls Despite Revenue Jump
West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting a fiscal first quarter net loss of $85,000, compared to net income of $26,000 during the same period the previous year. Despite the drop, the company says quarterly revenue increased more than 60 percent.
Roche Academy Aims to Fill Need For Talent
The University of Indianapolis and Roche Diagnostics are partnering on an effort to fill a talent gap. The first cohort for Roche Academy has begun and the university says the goal is to solve the talent pipeline for biomedical equipment technicians. The academy provides a customized curriculum for the cohort of eight students, as well as a summer internship, that provides real-world training to prepare students for high-demand positions at Roche.
Lilly Reveals Plan to Offload Elanco Stock
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced plans to divest its remaining interest in Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN). The pharmaceutical giant retained a more than 80 percent ownership interest in Elanco, following the company's Initial Public Offering in September.
Georgia Woman Wins $3M Verdict Against Cook Medical
A federal jury in Indianapolis has awarded $3 million to a Georgia woman who claimed an intravenous filter made by Bloomington-based Cook Medical was defective. Tonya Brand says she suffered medical complications after the filter deteriorated inside her body.
Lilly Returns to Profit
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is reporting fourth quarter net income of $1.1 billion, compared to a loss of $1.7 billion the previous year, when earnings were impacted by U.S. tax reform. The company is also cuttings its revenue and profit forecast for 2019, due in part to disappointing results from a Phase 3 study of cancer drug Lartruvo. Lilly says quarterly revenue increased 4.5 percent to $6.4 billion, topping estimates. The company cites higher sales of...
Rehab Medical Merges With Wound Care Company
Indianapolis-based Rehab Medical Inc. has announced a merger with medical device manufacturer Cork Medical, also based in Indy. Financial terms of the deal are not being disclosed, however Rehab Medical tells Inside INdiana Business it plans to add 50 jobs by the end of the year.
Lilly Acquisition Moving Forward
Indianapolis-based Eli Lilly and Co.'s (NYSE: LLY) $8 billion acquisition of Loxo Oncology Inc. (Nasdaq: LOXO) has cleared its first hurdle. Lilly says the deal has made it past the waiting period under the Hart-Scott-Rodino Antitrust Act. The acquisition was first announced in early January. Lilly says the deal will add precision medicines to its oncology portfolio.
Zimmer Biomet Swings to Huge Loss
Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting a fourth quarter net loss of $903 million, compared to net income of $1.2 billion during the same period the previous year. The medical device manufacturer says the loss included goodwill impairment and litigation charges.
Purdue Students Move To ‘Mars’ For Two Weeks
A team of six Purdue University students and alumni is readjusting to life on planet Earth after spending two weeks on “Mars.” Although they didn’t travel to the real Red Planet, the crewmembers lived in isolation inside a small research station in a remote area of Utah.
Lilly 'Disappointed' by Cancer Drug Study
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced what it calls disappointing results of a study of a new cancer drug. The pharmaceutical giant says the Phase 3 study of Lartruvo, which aims to treat patients with advanced or metastatic soft tissue sarcoma, did not meet its primary endpoints.
Lilly Announces $8B Acquisition
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced an $8 billion deal to acquire Loxo Oncology in Connecticut. Lilly says the deal adds precision medicines to its oncology portfolio through Loxo's pipeline of medicines for patients with certain types of cancers. The Indy drugmaker says the acquisition would be the largest in its ongoing effort to strengthen its cancer treatment portfolio. Loxo's pipeline is focused on cancers that involve single gene abnormalities that can...
Commission OKs Two Indy West Side Projects
The Indianapolis Metropolitan Development Commission has approved tax abatement for two projects on the city's west side totaling nearly $11.5 million. According to documents filed with the city, the developments would create and retain nearly 60 jobs. Indianapolis-based Sentry Ventures LLC is planning to invest nearly $9 million to build and equip a 30,000-square-foot addition to its existing facility and Japan-based Ryoei USA Inc. is looking to invest $2.5 million to build a...
BASi Swings to Full-Year Loss
West Lafayette-based Bioanalytical Systems Inc. (Nasdaq: BASI) is reporting a fiscal full-year net loss of $194,000, compared to net income of $884,000 the previous year. The company says the results are due in part to one-time costs associated with its July acquisition of Missouri-based Seventh Wave Laboratories LLC.
Purdue Method Could Keep Lettuce Safe
Romaine has returned to store shelves after a recent E. coli outbreak stopped salads at both grocers and restaurants. Science is partly to blame; the U.S. Food and Drug Administration (FDA) recalled all romaine as a broad safety measure, because detecting pathogens such as E. coli takes time in the lab—up to three days in some cases.
Inari Chooses Indiana to Help Build Better Seeds
‘How do we feed 9 billion people by 2050?’ is a common rallying cry—and foreboding challenge—within the agricultural community. But a young company from the Boston area—now opening its next operation at Purdue Research Park in West Lafayette—says the right question to ask is, ‘How do we feed the world without destroying the planet?’
Lilly Issues 2019 Guidance
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced 2019 financial guidance, with projected revenue and adjusted profit above analyst expectations. The company says the growth is driven by demand for newer medicines including Trulicity, for diabetes, and psoriasis drug Taltz. The company is projecting 2019 revenue between $25.3 billion and $25.8 billion, and earnings per share between $5.52 and $5.62. Chief Executive Officer David Ricks says, while he's happy with...
Lilly Acquires Pre-Clinical Program
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced an agreement with Massachusetts-based Hydra Biosciences. The company says it has acquired all assets related to a pre-clinical program from Hydra, though financial terms of the deal are not being disclosed.
BioCrossroads Looking to the Future During Transition
The incoming interim president and chief executive officer of BioCrossroads says the transition in leadership will be a smooth one. The state's life science initiative announced Wednesday longtime CEO David Johnson is leaving to continue his role as CEO of the Central Indiana Corporate Partnership on a full-time basis. Norah Doherty will assume the interim position at the beginning of the year and says BioCrossroads continues to look to the future.
Work Begins on 16 Tech's First Building
16 Tech developers have officially broken ground on the innovation district's first building, marking the beginning of an ambitious 10-year project. The $30 million Advanced Research and Innovation building is fully-leased and will anchor the 60-acre development. The facility, which will house the Indiana Biosciences Research Institute, Central Indiana Corporate Partnership and Indiana University School of Medicine researchers, is set to be complete in mid-2020.
BioCrossroads CEO Moving On
The chief executive officer of the state's life sciences initiative is stepping down. BioCrossroads says David Johnson, who has led the organization for 14 years, is leaving at the end of the year to serve as president and CEO of the Central Indiana Corporate Partnership on a full-time basis. The CICP is the parent organization of Indiana's six talent and industry sector initiatives, including BioCrossroads. Johnson was elected president and CEO of the CICP in 2012 and has since led...
Notre Dame, IBRI Form 'Strategic Alliance'
The University of Notre Dame has signed a strategic alliance agreement with the Indiana Biosciences Research Institute in Indianapolis. The IBRI says the agreement will enable both parties to "work together on research covering significant health issues in Indiana and around the world."
Catalent Expanding in Bloomington
New Jersey-based Catalent Inc. (NYSE: CTLT) has announced plans to grow its Bloomington operations. The company says it will invest nearly $14 million to expand its biologics packaging capacity at its Monroe County manufacturing facility and create 36 jobs. Catalent entered the Bloomington market in 2017 with its $950 million acquisition of Cook Pharmica. The company says it will construct a 15,000-square-foot addition that will include...
Indiana Surgeon Wins $112M Verdict
A jury in Marshall County has awarded what is being called one of the largest verdicts in Indiana history to an Indianapolis spine surgeon and inventor. Rick Sasso would receive more than $112 million in royalties and interest which he claimed he was owed by Minnesota-based medical device company Medtronic PLC (NYSE: MDT).
Purdue Alum Creates Bandages to Save Lives in Kenya
A skin infection called Kaposi Sarcoma—easily treated in the U.S.—claims about one million lives each year in Kenya. The situation puzzled a Purdue University pharmacy alum and motivated him to create a medicated bandage that is now being used in the African nation.
AcceLINX Boosting Ortho Innovators
The Orthopedic Capital of the World is already unique as home to the highest concentration of resources for the design, development and manufacturing of musculoskeletal products in the world—but local leaders say the region’s approach to innovation is also one-of-a-kind.
IU Fund Makes Another Medical Investment
The Indiana University Philanthropic Venture Fund has announced support for an Indianapolis-based regenerative medicine company. While specific numbers are not being released, the fund says it has invested in Vascugen Inc., which focuses on finding therapies to repair human tissue damaged by reduced blood flow due to disease or injury.
Medical Device Company Secures $12.5M in Funding
Indianapolis-based NICO Corp. has completed a $12.5 million Series B round of funding. The neurosurgical medical device manufacturer says the funding will support a variety of priorities, including new product development and commercialization, as well as additional clinical studies.
State Files Suit Against Pharmaceutical Company
Indiana Attorney General Curtis Hill has filed suit against a Connecticut-based pharmaceutical manufacturer. The lawsuit alleges Purdue Pharma, which makes opioid products such as OxyContin, played a key role in the state's opioid crisis by misrepresenting the risks and benefits of opioids.
Endocyte Loss Narrows Amid Pending Acquisition
West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) is reporting a third quarter net loss of $12.6 million, compared to a net loss of $23.3 million during the same period a year earlier. The biopharmaceutical company is in the midst of a proposed $2.1 billion acquisition by Switzerland-based Novartis AG, which is expected to close in the first half of next year. The deal is considered the largest of its kind ever for an Indiana life sciences company.
IBRI Details Medical Data Collaboration
The Indiana Biosciences Research Institute in Indianapolis has announced a partnership with a global information technology consulting company. Massachusetts-based Virtusa Corp. (Nasdaq: VRTU) says the collaboration will involve analyzing synthetic medical data, which isn't subject to the same privacy regulations as real-world data sets, to accelerate research on diseases like diabetes. The collaborative analyses, IBRI and Virtusa say, will use...
Don Brown to Headline Life Sciences Presentation
One of the biggest names in the state's technology scene will deliver a keynote address Friday at a life sciences industry event. Don Brown, who founded and sold Software Artistry and Interactive Intelligence and launched a third company in 2016, LifeOmic, will headline The Changing Business of Healthcare conference at the Roche Diagnostics corporate headquarters in Indianapolis. The event is part of...
Cambridge Ag Company Picks Purdue Research Park
A Boston-based seed development and plant breeding company is expanding into the Purdue Research Park. Inari will open what it calls the world's first Seed Foundry at the complex. The company says the work done there can help "revolutionize the seed industry" and create a more resilient and sustainable food system. Inari Senior Vice President of Operations Mark Stowers says the 26,000 square-foot facility will ultimately house about 50 people, but adds there is plenty...
Dozens of Employers to Attend Fort Wayne Job Fair
Nearly 70 employers are expected to attend a jobs event Wednesday in northeast Indiana. Ivy Tech Community College Fort Wayne is hosting the 2018 Fall Career Fair, which is open to the public and will feature opportunities to talk with companies in fields including heath care, manufacturing and nonprofit. In addition to meeting with employers, Ivy Tech says the event will include free professional headshots for jobseekers to use on LinkedIn profiles. Employers expected to be in...
Lilly Reports Higher Earnings
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) is reporting third quarter net income of $1.42 billion, compared to $1.1 billion during the same period last year. The report is the pharmaceutical maker's first since Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) spun out as an independent company. Chief Executive Officer David Ricks characterized the results as strong and adding revenue guidance was increased. For the full year, Lilly expects revenue to be...
Elanco Swings to Profit in First Post-IPO Earnings
Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) is reporting its first set of earnings since spinning off from Eli Lilly and Co. (NYSE: LLY) earlier this year. The company is reporting third quarter net income of $60.2 million, compared to a loss of $20.7 million during the same quarter last year. Elanco says revenue hit $761.1 million for the third quarter, which is a 9 percent increase compared to the third quarter of 2017. The company credits a...
Lilly, Maryland Company Ink $40M Partnership
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has entered into a multiyear partnership with NextCure Inc. in Maryland. As part of the at least $40 million deal, the companies will work together on immuno-oncology therapies through NextCure's FIND-IO platform. NextCure will receive $25 million from Lilly upfront, and will be eligible for milestone and royalty payments if Lilly can develop and commercialize new cancer therapies through the collaboration. The Indianapolis company has...
Anderson 'Perfect Environment' For Italpollina Operation
The head of an Italian agbiosciences company that has established its North American headquarters in Anderson calls Indiana "the perfect environment for business." During a ribbon cutting ceremony Friday on a former General Motors plant site, Italpollina Chief Executive Officer Luca Bonini said his company is already working on a second production phase that could open the door for exports from the Madison County operation. The company now has...
Elanco Partners With Danish Company
Greenfield-based Elanco Animal Health Inc. (NYSE: ELAN) has announced a global research and development partnership with Denmark-based Novozymes A/S. Elanco says the collaboration aims to develop nutritional health products for beef cattle and dairy cows throughout the world.
Diagnostics Developer Plans Indy HQ Expansion, Jobs
Indianapolis-based MiraVista Diagnostics LLC has announced a $5.3 million expansion. The fungal disease testing company says it plans to add up to 31 jobs by 2021 and double the size of its headquarters. MiraVista currently employs 44 and says hiring is expected to begin next year for positions including customer service representatives, laboratory technicians, research scientists and sales and marketing associates. The new positions are expected to pay...
Venture Winners Take Aim at Diabetes, Disease Outbreaks
Patients who have undergone a diabetes-related amputation currently face a terrifying prognosis: only 50 percent survive one year after the procedure. Notre Dame startup SalvePeds believes it has uncovered a drug that will save the limbs and lives of people with diabetes. Purdue University startup OmniVis also aims to save lives by battling disease outbreaks in low-resource areas.
Lilly Details Collaboration That Could Grow Exponentially
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a $100 million global licensing and research collaboration. The company will partner with Massachusetts-based Dicerna Pharmaceuticals Inc. (Nasdaq: DRNA) on potential cardio-metabolic disease, neurodegeneration and pain treatments. The deal also involves a $100 million equity investment from Lilly. More than 10 targets are expected to be involved. Lilly says Dicerna could receive...
Profit Jumps For Zimmer Biomet
Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) is reporting third quarter net income of $162 million, up from $98.8 million during the same period last year. Chief Executive Officer Bryan Hanson says the earnings reflect the company's sustained progress in a number of areas.
Program Offers Rehab to Workers Who Fail Drug Test
As opioid addiction issues continue to ravage Hoosier communities and the workforce, a global manufacturer with multiple Indiana locations is offering rehabilitation assistance for potential employees who fail pre-hiring drug screenings. Belden, which has had a longtime presence in Richmond, has launched Pathways to Employment in response to a tripling of drug test failures and an ongoing need for talent. VP of HR Leah Tate says more than two-thirds of participants are still with it.
Cook Regentec Focused on Breakthroughs, Collaboration
Bloomington-based Cook Regentec has opened its first facility in Indianapolis. The company has transformed an old beer warehouse into space at the high-profile 16 Tech innovation district. Part of the space will be dedicated to what the regenerative medicine therapy incubator and accelerator is calling The Collaboratory, where its scientists, engineers and product developers will partner with Indiana University School of Medicine researchers.
Positive Studies Push Promising Lilly Treatment Forward
Indianapolis-based Eli Lilly and Co. (NYSE: LLY) has announced a key potential treatment is moving closer to market. Taltz, which is being tested for use by patients with a type of arthritis that causes inflammation in the spine, has met its targets on two late-stage studies. Lilly says the positive results clear the way for it to submit the ankylosing spondylitis treatment for U.S. regulatory approval later this year. VP of Immunology Development Lotus Mallbris says...
DowDuPont Paints Picture of Ag Spin-Out
Michigan-based DowDuPont Inc. is providing a detailed look at the scope of its agriculture spin-out Corteva Agriscience. The independent company, which will have a significant presence in Indianapolis, will be made up of a combination of Indianapolis-based Dow AgroSciences, DuPont Pioneer and DuPont Crop Protection. The spin is expected to take place June 1. In a notice to shareholders included in a U.S. Securities and Exchange Commission filing, CEO James Collins said...
$2.1B Endocyte Deal a Record-Breaker
A veteran of Indiana's life sciences industry says the proposed blockbuster sale of West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) is good for the ecosystem in the state. Switzerland-based Novartis AG has signed an agreement to acquire Endocyte for $2.1 billion, which BioCrossroads Project Director Brian Stemme says is "by far" the largest-ever acquisition of an Indiana life sciences company. The deal still faces regulatory and shareholder hurdles.
Endocyte, Novartis Ink $2.1B Merger Agreement
West Lafayette-based Endocyte Inc. (Nasdaq: ECYT) has announced a merger agreement with a global pharmaceutical giant. The deal with Switzerland-based Novartis AG is valued at $2.1 billion and still requires shareholder approval. Until regulatory and other approvals are met, Endocyte will remain independent. The proposed merger of Endocyte into Novartis is slated to be complete in the first half of next year. Endocyte develops targeted cancer therapies and earlier this...
Zimmer Biomet Partnering With Apple
Warsaw-based Zimmer Biomet Holdings Inc. (NYSE: ZBH) has announced a partnership with Apple Inc. (Nasdaq: AAPL) to assist patients undergoing knee and hip replacement surgeries. Zimmer Biomet has developed an app for the iPhone and Apple Watch designed to improve the connection between patients and their surgical care teams.