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Indiana Biosciences Research Institute Hits $50 Million Start-Up Funding Goal
Date:11/19/2013

INDIANAPOLIS, Nov. 19, 2013 /PRNewswire/ -- The Indiana Biosciences Research Institute announced today that it has reached the first $50 million funding milestone, fueling continued momentum in the development of the nation's first industry-led biosciences research institute.

Officially launched in a public announcement on May 30 by Indiana Governor Mike Pence with leading Hoosier companies and universities, the research institute serves as the catalyst to advancing the state's life sciences strengths. The Institute, which will attract world-class scientific leaders and research dollars to Indiana, will accelerate collaboration across and among Indiana's substantial academic and commercial research assets while focusing on human health solutions for improving the lives of Hoosiers and people around the world.

In less than 5 months, the Indiana Biosciences Research Institute has raised $25 million from corporate and philanthropic funders, matching the $25 million appropriated by the Indiana General Assembly earlier this year.

Eli Lilly and Company, whose Chairman and CEO, John Lechleiter, Ph.D., joined Governor Pence in 2012 in calling for the establishment of a biosciences research institute, has committed $7.5 million in start-up funding.

"Today's announcement represents a significant investment by Lilly in the future of Indiana and in the future of biosciences research," Lechleiter said. "Each year in Indiana, billions of dollars are invested in research and development to advance medical innovation. This Institute will help Indiana attract additional global talent and will nurture partnerships across the state and across the country - keeping more research dollars in Indiana'/>"/>

SOURCE Indiana Biosciences Research Institute
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