Lilly Endowment Awards $10 Million Grant To Fuel Early Development Of Indiana Biosciences Research Institute
INDIANAPOLIS, June 27, 2013 /PRNewswire/ -- BioCrossroads and the Indiana Biosciences Research Institute announced today the receipt of a $10 million grant from Lilly Endowment Inc. to the CICP Foundation, Inc., in support of the charitable, educational and scientific activities of the Indiana Biosciences Research Institute. The Institute is a significant new statewide public-private entity bringing together Indiana's life sciences industry leaders and academic research institutions through a novel structure to accelerate Indiana's strengths in the discovery, development and delivery of bioscience and medical technology innovations.
The Indiana Biosciences Research Institute was incorporated on May 20, 2013, and officially launched in a public announcement on May 30 by Indiana Governor Mike Pence and leading statewide life sciences executives and university leaders. The Institute is the first industry-led biosciences research institute in the country and serves as the centerpiece project of BioCrossroads, an initiative that advances the state's life sciences strengths. It will attract world-class scientific leaders and life sciences research dollars to Indiana, while focusing on human health solutions for improving the lives of Hoosiers and people around the world.
"The Indiana Biosciences Research Institute is unlike any research institute in the nation because our industry leaders have spearheaded its development and are charting its course," said David L. Johnson, president and CEO of BioCrossroads and the Central Indiana Corporate Partnership (CICP). "Once again, Lilly Endowment is instrumental in Indiana's progress through a major grant that will provide critically needed early support for this game-changing enterprise and encourage other public, corporate and philanthropic leaders to do likewise. The Endowment's early investment in the Indiana Biosciences Research Institute will fuel the Institute's exciting pace of progress and support our continued efforts to build upon Indiana's strengths in this premier sector of our economy."
"The Institute will foster deep and strategic collaborations among Indiana's life science companies and research institutions that should increase and enhance the state's intellectual capital and strengthen its economy," said N. Clay Robbins, Lilly Endowment's president and CEO. "The degree of shared commitment of Indiana's life sciences businesses, its research institutions and state government to growing the research capacity in Indiana is unprecedented. Lilly Endowment is pleased to help support the launch of this exciting new venture that holds great promise for our state."
This $10 million grant from the Lilly Endowment will go to CICP Foundation, Inc., which supports charitable, educational and scientific activities of BioCrossroads and other branded initiatives of CICP.
The Indiana Biosciences Research Institute will accelerate and focus collaboration across and among Indiana's substantial academic and commercial research assets by attracting nationally – and internationally – significant talent with a proven track record of academic excellence and success in advancing innovation and collaboration with industry partners. These "Indiana Fellows" of the Institute will work in collaboration with one another, as well as with industry and academic partners, on a focused range of scientific research projects in the public interest that should lead to substantially greater public and private research spending in Indiana and accompanying jobs.
As part of the Institute's development process, industry leaders have defined common scientific interests for research and discovery. The Institute will initially focus on the most pressing issues of human health: cardiovascular disease, diabetes, obesity and nutrition. These interrelated metabolic disorders are a major economic burden and a leading cause of death in the United States. Approximately 35 percent of Americans suffer from cardiovascular disease and metabolic disorders, including a disproportionate percentage of Hoosiers who suffer from these diseases.
The Institute has gained significant momentum in the past eight months, with an early endorsement from Indiana Governor Mike Pence and active participation in development by industry leaders from Eli Lilly and Company, Cook Medical, Dow AgroSciences, Roche Diagnostics, Indiana University Health and Biomet, as well as university leaders from Purdue University, Indiana University and the University of Notre Dame. The Indiana General Assembly, in its recent legislative session, appropriated $25 million for Institute start-up costs. The Endowment's $10 million grant is a significant step forward in the Institute's development, to be supplemented with further industry and philanthropic funds to reach a milestone of $50 million for initial operations.
"The Indiana Biosciences Research Institute continues to gain momentum, and Lilly Endowment's grant underscores the power of a great idea and partnerships," said Jack Phillips, president and CEO of Roche Diagnostics. "I am confident the Institute will meet its philanthropic and corporate funding goals in short order."
About Lilly Endowment Inc.
Lilly Endowment Inc. is an Indianapolis-based, private philanthropic foundation created in 1937 by three members of the Lilly family -- J.K. Lilly Sr. and sons J.K. Jr. and Eli -- through gifts of stock in their pharmaceutical business, Eli Lilly and Company. While those gifts remain the financial bedrock of the Endowment, the Endowment is a separate entity from the company, with a distinct governing board, staff and location. In keeping with the founders' wishes, the Endowment supports the causes of community development, education and religion and maintains a special commitment to its hometown, Indianapolis, and home state, Indiana. More information can be found at www.lillyendowment.org.
About BioCrossroads
BioCrossroads (www.biocrossroads.com) advances Indiana's signature strengths in the life sciences by connecting with corporate, academic and philanthropic partners; facilitating investments in promising start ups and building new enterprises; and educating through conferences, reports and market development knowledge. The initiative supports the region's existing research and corporate strengths while encouraging new business development and has formed several new nonprofit organizations, including Indiana Health Information Exchange, Fairbanks Institute for Healthy Communities, BioCrossroadsLINX, OrthoWorx, and Datalys Center.
SOURCE BioCrossroads
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