13 WTHR IndianapolisVictories, hurdles mark 10-year life sciences push

Victories, hurdles mark 10-year life sciences push

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INDIANAPOLIS -

Indiana leaders who banked on life sciences to generate high-income jobs and prestige a decade ago say the state hasn't achieved all it envisioned but has taken steps in the right direction.

The state's largest universities and key businesses such as Eli Lilly & Co. and Cook Group united in 2002 under the group BioCrossroads to spur entrepreneurship.

The Indianapolis Business Journal reports more than 300 life sciences companies have been launched since then, but advances in gene mapping and stem cells have not produced breakthroughs as quickly as envisioned. Uncertainty over environmental regulations and reimbursements has also cooled investors to the industry.

Business leaders say Indiana needs more promising companies, more investment capital and more years of commitment from funders to make its life sciences strategy pay off.

Information from: Indianapolis Business Journal

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