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Business

Indiana Bio Institute Gets Start-Up Funds

by Ann M. Thayer
November 25, 2013 | A version of this story appeared in Volume 91, Issue 47
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The Indiana Biosciences Research Institute has raised its first $50 million to launch operations. Announced in May, the industry-backed institute received $25 million from corporate and philanthropic backers, matching $25 million from the Indiana General Assembly. Eli Lilly & Co. provided $7.5 million, and $4.5 million came from Roche Diagnostics. Dow AgroSciences, Indiana University Health, and Indiana University also contributed. IBRI is now recruiting a CEO and looking to attract scientists while starting a $310 million campaign to support its development and operating costs.

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