BLOOMINGTON, Ind. – Innovation needs investment, particularly in the early stages of development for many of Indiana’s life sciences companies. A conference being presented Feb. 21 in Indianapolis by the Indiana University Kelley School of Business will offer practical guidance on funding strategies and finding support from government, private equity firms and venture funds.
Kelley’s Center for the Business of Life Sciences will present the conference, “Capital Makes the (Life Sciences) World Go ‘Round,” from 9 a.m. to 3:15 p.m. at OneAmerica Tower, 202 N. Illinois St. in Indianapolis.
Participants will include managing directors and a CEO of several venture capital firms and executives in research and development at companies seeking cures for hepatitis and cancer and management of dental practices in humans and medical treatments for animals.
Keynote speakers will include David Roberts, chief innovation officer at the Indiana Economic Development Corp., and Nnamdi Alozie, director of corporate strategy/innovation at IU Health, pictured left.
Funding is crucial for early-stage and mid-stage companies prior to being able to issue stock and go public or merge with a larger firm. Funds are often used to pay for clinical trials and other research and development, including testing prototypes.
According to a recent report from BioCrossroads, 36 Indiana life science companies attracted a total of $74 million in venture funding last year. This was a double-digit drop from the year before, when 34 companies raised a record $115 million. On average, budding firms reached deals averaging $2.1 million year, which also was a sharp drop from 2018.