Indiana Gov. Mike Pence joined several life-sciences and research university executives Thursday in unveiling the new Indiana Biosciences Research Institute, a statewide public-private partnership to improve biosciences innovations.
The estimated $360-million Institute will serve as the centerpiece project of BioCrossroads, a public-private collaboration, by attracting science dollars to Indiana and focusing initially on what it says are the most pressing global and local interrelated human health issues: cardiovascular disease, diabetes, obesity and nutrition.
Industry will provide a major source of funding and will define the Institute's research focus to cater to commercialization of new innovations.
The State of Indiana also has appropriated $25 million for the biennium for start-up costs. An additional $25 million in start-up funding is being sought from industry and philanthropic sources. The funds will be used to employ a CEO and research fellows.
From there, the project will be supported by corporate and philanthropic funding with oversight from a largely donor-based board of directors. The board will also consist of representatives from the life sciences industry, the state of Indiana and academia.
The project is the result of leadership from industry executives representing Eli Lilly and Company, Dow AgroSciences, Roche Diagnostics, Cook Medical, Indiana University Health and Biomet and the Governor of Indiana, with active support in initial development by BioCrossroads.
Indiana's research institutions, including Indiana University, Purdue University and the University of Notre Dame also are participating in the development process.
More information about the Indiana Biosciences Research Institute can be found at www.indianabiosciences.org.