New biosciences institute gets $100M

When Indiana bioscience industry and academic leaders gathered almost three years ago to announce the creation of a unique research institute that would span business and academia, they had big visions. Within five years, this new entity would have a spacious home, about 100 scientists on staff, and its first commercial product in hand.

More than two years later the Indiana Biosciences Research Institute seemed far from realizing such dreams. Until now.

Wednesday morning the institute, which will focus on heart disease, diabetes and nutrition, will announce two grants totaling more than $100 million, enough funding to move the institute from a concept toward reality.

“That is the number where we know we have a sustainable research institute,” said Darren Carroll, senior vice president of corporate business development for Eli Lilly and Co. “It’s big enough to do something important.”

The Lilly Endowment has made an $80 million grant, its second largest ever. While $45 million is unconditional, the institute must raise dollar-for-dollar contributions from life-science businesses and their foundations for the remaining $35 million.

Eli Lilly and Co. has contributed $20 million, which with the endowment's match and $45 million brings the committed total to $85 million. If the institute can raise an additional $15 million from other industry sources to be matched, the institute will wind up with $115 million.

This money will augment the $50 million the institute already has, including a $25 million startup grant from the state and $25 million in private donations from local bioscience companies.

Wednesday’s announcement comes as the institute prepares to break ground later this year on its new home, a 75,000-square-foot facility that will anchor the 16 Tech development just north of Eskenazi Hospital on the far side of Fall Creek. Plans call for the development to eventually include retail space, a hotel and apartments as well as a direct connection to the Indiana University-Purdue University Indianapolis campus to the south.

The 50-acre technology park is seen as an opportunity to bolster the northwest corner of Downtown, akin to what has been done with CityWay to the south. In November the City-County Council approved $75 million in tax-increment financing bonds to make infrastructure improvements to the area, including a bridge over Fall Creek.

For now, the institute is housed in temporary space that it rents from Indiana University. But the space where 16 Tech will rise is visible right outside the institute’s windows, and that will help the institute attract the top-notch researchers who will turn the Indiana Biosciences Research Institute vision into reality, said David Johnson, president and chief executive of BioCrossroads, an initiative to help foster Indiana’s life-sciences industry.

“This gives us opportunity to point to 16 Tech, the beginning of what will be the IBRI tower. ... That’s something we did not have before,” Johnson said. “Everything we were talking about was exciting, new, bold and visionary, but there was nothing concrete you could point to and say if you came here tomorrow, your lab would be here. Here is your budget. We can do all of that now, and that is clearly what is going to be required to pursue a vision as ambitious as IBRI is.”

Industry and academic scientists often work on related problems but until now have not had a space where they can share their work. The concept behind the institute was to create an entity that lived "somewhere between the industry and university," Johnson said.

The institute aims to connect researchers at Lilly, Dow AgroSciences, Roche Diagnostics, Cook Medical and other area biosciences companies with doctors at IU Health and scientists at Indiana University, Notre Dame, Purdue and other schools.

Originally the myriad forces behind the institute envisioned a scientist leader who would recruit others in his or her field. But over time, those helping to create the institute realized that might not be the way to go, Johnson said.

Instead, last spring the institute's board hired David Broecker, a life-sciences industry executive and former Lilly employee, as president and chief executive officer.

In January Dr. Raghu Mirmira, director of the IU Center for Diabetes and Metabolic Diseases, joined the institute as interim scientific director. Mirmira, who will retain his IU post, will now start looking for additional research scientists to join the effort.

“The feeling today is less about trying to build this institute around the vision of one researcher than it is to figure out in cardiometabolic diseases what are the unmet opportunities,” Johnson said.

Different questions about addressing cardiometabolic diseases, like heart disease and diabetes, will have relevance for different Indiana companies, Carroll said.

Elanco and Dow AgroSciences, for instance, might be interested in nutrition-related research. Roche might have an interest in finding biomarkers, measureable characteristics found in a person's body such as a certain protein, that could prove useful in diagnosing those at risk of disease so those people can take steps to preserve their health.

Unlike with other areas rich in biotech industry like New Jersey or Boston/Cambridge, none of the big players in Central Indiana competes with one another. That helps pave the way for them to work together, Carroll said.

The new space should be ready for the institute by the summer or fall of 2018, Broecker said.

Eventually, Broecker envisions a mixed-use park with entrepreneurial and research space.

“Very much the model here is to create innovation, and innovation is a collision sport,” Broecker said, referring to casual meetings that can occur, sparking new ideas.

Call IndyStar reporter Shari Rudavsky at (317) 444-6354. Follow her on Twitter: @srudavsky.

The Indiana Biosciences Research Institute

What it is: A nonprofit scientific institute that will allow for greater collaboration between industry and academic scientists as well as those who work at the institute itself. The institute will focus on research into heart disease and metabolic disorders such as diabetes and obesity, as well as on research to help improve nutrition with an eye toward bettering the population's health.

Who works there: Now just a handful of people. Plans call for the institute to employ 100 to 150 research scientists.

Founded: 2013.

Where it is: Now in 18,000 square feet of space in an Indiana University building on West 16th Street. Will move to about 75,000 square feet of office and lab space at 16 Tech as its anchor tenant in about two years when building is finished.

More info: indianabiosciences.org.

16 Tech

What it is: A planned research and technology office park that also will eventually include a hotel, apartments and retail space.

Who will work there: Employees of the Indiana Biosciences Research Institute will be in one building. The park will eventually have 5 million square feet of mixed use.

Being built: Infrastructure work is being done now. Ground will be broken on Indiana Biosciences Research Institute later this year with the rest to follow.

Where it is: Just south of 16th Street and north of Fall Creek opposite from Eskenazi Hospital and the Indiana University-Purdue University campus.

More info: 16techindy.com.