Indiana Biosciences Institute Getting More Than $100M

Associated Press

The Indiana Biosciences Research Institute will anchor 16 Tech, a 60-acre complex near downtown Indianapolis.
*Courtesy Indiana Biosciences Research Institute*

INDIANAPOLIS (AP) — Indiana's fledgling biosciences institute is getting more than $100 million to help spur its collaborations between industry and academia.

Officials announced Wednesday that the Lilly Endowment is making an $80 million grant to the Indiana Biosciences Research Institute and Eli Lilly and Co. Foundation is adding $20 million.

The announcement comes as the institute prepares to break ground on its new 75,000-square-foot site near downtown Indianapolis that will anchor a 50-acre technology park.

Eli Lilly and Co. senior vice president Darren Carroll tells The Indianapolis Star the funding amount is enough to start a sustainable research institute.

The institute plans to focus on heart disease, diabetes and nutrition. It formed in 2013 and already has $50 million on hand from a state grant and private donations.

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