Growth Plans on The Horizon For Young Life Sciences Incubator
A "collaborative ecosystem" for life sciences startups in Indianapolis is marking its first anniversary with potential growth plans. Director JaiPal Singh says 11 companies have launched from the Indiana Center for Biomedical Innovations at IU Health Methodist Hospital and many have been "quite well-funded." He says some 45 professionals are now associated with the center, which has already maxed-out its space.
During an interview with Inside INdiana Business, Singh discussed the possibility of searching out more room. The center includes eight laboratories, walk-in cold room, offices and specialized space for tissue culture, microscopes and flow cytometry. "This is a very unique facility, so we'd like to stay in this, but as we grow, we will be looking for other places for research, as well as office space. I think 16 Tech is one possibility in the long-run as we grow," Singh told Business of Health Reporter Barb Lewis.
Singh says the ICBI is training the next generation of entrepreneurs and scientists creating devices and therapies. Current startups in the space are developing therapies for conditions including Post-Traumatic Stress Disorder, lung diseases, stroke, cell therapy and cancer. Companies at the ICBI like Anagin Inc. and Arrhythmotech LLC received funding last year. The center opened in March of 2016.