February 24, 2016

Indiana Biosciences Institute Getting More Than $100M

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

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.

Support independent journalism today. You rely on WFYI to stay informed, and we depend on you to make our work possible. Donate to power our nonprofit reporting today. Give now.

 

 

Related News

Indiana Issues Air Quality Alert For 4 Regions Tuesday
8 US Attorney Picks By Biden Would Include Historic Firsts
In Northeast Indianapolis, Business Pushes Boundaries In Trend To Counter Community Disinvestment