Venture Investments, Life Sciences Business and Job Growth Mark Major Accomplishments for BioCrossroads in 2005; IHIE and INCAPS Rapidly Develop, Six Indiana Investments Made, Over 100 Companies Supported, Market Strength Nationally Recognized.INDIANAPOLIS -- BioCrossroads, Indiana's life sciences initiative, announced today its major accomplishments over the past twelve months. BioCrossroads is a privately funded stakeholder stakeholder n. a person having in his/her possession (holding) money or property in which he/she has no interest, right or title, awaiting the outcome of a dispute between two or more claimants to the money or property. collaboration that raises investment funds Noun 1. investment funds - money that is invested with an expectation of profit investment assets - anything of material value or usefulness that is owned by a person or company , invests in life sciences opportunities, starts businesses and creates jobs in Indiana. Indiana starts from a position of substantial strength in the healthcare and life sciences industry. As a prime example of this strength, Standard & Poor's Rating Services recently upgraded Indiana's credit rating, due in large part to the growth of the state's life sciences sector. Singled out in the report was Clarian Health Partners $875 million investment in new development in both research and the practice of medicine. Indiana University Indiana University, main campus at Bloomington; state supported; coeducational; chartered 1820 as a seminary, opened 1824. It became a college in 1828 and a university in 1838. The medical center (run jointly with Purdue Univ. and Purdue University Purdue University (pərdy  `, -d`), main campus at West Lafayette, Ind. were mentioned as leaders in research and development supporting this growing sector. The expansion and development of life sciences-related manufacturing, with specific examples of Cook Pharmica in Bloomington and Nemcomed in Fort Wayne Fort Wayne, city (1990 pop. 173,072), seat of Allen co., NE Ind., where the St. Joseph and St. Marys rivers join to form the Maumee River; inc. 1840. It is the second largest city in the state, a major railroad and shipping point, a wholesale and distribution hub, , was also critical to Indiana's improved credit rating. The most telling statistic from the report is that last year there were $214 million new investments in life sciences companies creating 2,200 jobs. In addition, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the report, central Indiana's $13.6 billion global life sciences hub supports many growing life sciences areas, including protein analysis, evidence-based medicine evidence-based medicine Decision-making 'The use of scientific data to confirm that proposed diagnostic or therapeutic procedures are appropriate in light of their high probability of producing the best and most favorable outcome'. See Meta-analysis. and cancer research. To this end, BioCrossroads' focus remains on creating new opportunities and growth by building on Indiana's existing life sciences assets. "BioCrossroads is beginning to gain real traction in stimulating entrepreneurial activities in life sciences," said Dr. August Watanabe, BioCrossroads Chairman of the Board. "It has been a great year, and we are proud to have the enthusiastic support of our public and private institutions to continue to build momentum." The marketplace is also taking note of Indiana. The Corporation for Enterprise Development ranked Indiana fourth highest in the U.S. in venture capital percentage gained from 1999 to 2004. During the same timeframe, only 13 other states had a positive gain in venture capital investments. The trend continued for Indiana in 2005, where venture capital investment rose 40% over 2004, for a total of $95 million, according to the PricewaterhouseCoopers MoneyTree(TM) Survey. Highlights include: --Since December 2004, Indiana Future Fund venture capital firms Name Location Founding date Managing Partners/Directors Specialty Capital managed 5AM Ventures Menlo Park, CA; Waltham, MA 2002 John Diekman, PhD (managing partner), Scott Rocklage, PhD (managing partner), Andrew Schwab (managing partner) life sciences $200M [1] have made five Indiana investments. A recent $16.5 million investment in a new pharmaceutical company called CoLucid represents a significant progression in Indiana's venture capital landscape. --BioCrossroads announced the formation of the $6 million Indiana Seed Fund, a seed-stage private investment fund. It recently announced a $250,000 investment in SonarMed, Inc., an Indianapolis-based company developing sonar technology to help determine endotracheal tube endotracheal tube n. A tube inserted into the trachea to provide a passageway for air. Also called tracheal tube. Endotracheal tube position within a patient's airway. --BioCrossroads' first spin-out company, the Indiana Centers for Applied Protein Sciences (INCAPS), currently employs 13 science and business professionals with additional hiring expected in 2006. It is the largest tenant of the Indiana University Emerging Technologies Center. The company continues to add to its list of commercial clients interested in accessing INCAPS' expertise in proteomics research. INCAPS was also the recipient of a portion of a $2.7 million federal grant to develop diagnostic tests for severe sepsis severe sepsis A condition defined clinically as 'Sepsis associated with organ dysfunction, hypotension, or hypoperfusion abnormalities (which include) …lactic acidosis, oliguria, or an acute alteration in mental status and pneumonia. --Another BioCrossroads spin-out, the Indiana Health Information Exchange (IHIE IHIE Institute of Highway Incorporated Engineers (UK) ), continues to be regarded as a national model to improve patient safety and reduced healthcare costs. IHIE, in collaboration with the Regenstrief Institute The Regenstrief Institute, Inc. is a private, non-profit research organization affiliated with the Indiana University School of Medicine (IUSM).[1] It was founded in 1969 by Sam Regenstrief[2]. and other partners, have received an $18.6 million federal contract to develop a prototype for a nationwide health information network. --BioCrossroads successfully launched a comprehensive statewide agriculture strategy that has since been adopted by the State of Indiana. --BioCrossroads continues to serve as the 'go to' place for Indiana's life sciences entrepreneurial community; it has provided support to over 100 life sciences businesses and collaborations. --BioCrossroads and the Center for Excellence in Leadership of Learning at the University of Indianapolis The University of Indianapolis is a university located in Indianapolis, Indiana, and affiliated with the United Methodist Church. The shortened name it uses is UIndy. , through the Life Sciences Education Best Practice Task Force, have developed a recommendation for a statewide science and math resource center for educators, parents, students and other groups. --BioCrossroads and the City of Indianapolis launched Indy Hub, an organization formed to help engage Indianapolis' next generation of leaders and retain young talent. --BioCrossroads continues to make progress in branding and championing the life sciences cluster. "The life sciences economy continues to be a cornerstone for Indiana's future health and wealth," said David Johnson David Johnson may refer to:
A complete report on BioCrossroads activities is posted on the BioCrossroads website, www.biocrossroads.com/2005report.pdf About BioCrossroads: BioCrossroads is Indiana's life science initiative, a public-private collaboration that supports the region's research and corporate strengths while encouraging new business development. With government, industry and academic resources aligned to accelerate business growth, the region is fertile ground for investors and entrepreneurs to build new ventures. Learn more at www.biocrossroads.com. Additional Resources: Indiana Future Fund - www.indianafuturefund.com Indiana Seed Fund - www.biocrossroads.com/entrepreneur/isf.htm Indiana Centers for Applied Protein Sciences - www.indianacaps.com Indiana Health Information Exchange - www.ihie.org Science resource center recommendations - www.biocrossroads.com/gap.pdf Indy Hub - www.indyhub.org |
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