Indiana Life Sciences Companies Landed $15 Billion in Funding in 2021 – Indianapolis Business Journal

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If money is the mother’s milk of life sciences companies, Indiana companies had a nutritious feast in 2021.

According to a report released this month by BioCrossroads, an Indianapolis-based group that promotes and invests in the state’s life sciences sector.

The amount of total funding is up from approximately $9 billion in each of the past two years.

“It is… important to note that funding comes from a wide variety of sources, which further diversifies and strengthens the life sciences sector,” said Patty Martin, President and CEO of BioCrossroads, in written remarks.

Thirty-nine Indiana life sciences companies raised $433.5 million in venture capital last year, an increase of nearly $200 million from 2020.

Thirteen mergers and acquisitions in the life sciences sector were completed last year, representing activity of more than $13.7 billion, an increase of $8.6 billion in 2020, according to the report.

The largest merger and acquisition deal was $10.5 billion paid by suburban Chicago medical device company Baxter International to Hill-Rom Holdings Inc. Hill-Rom, which makes hospital beds and patient monitoring devices, employs about 1,900 people in Batesville, although it is now based in Chicago.

Funding for the sector also includes $508 million accessed through public markets by four companies: Point Biopharma ($165 million), Acumen Pharmaceuticals ($160 million), Apria Healthcare ($115 million) and Acacia Pharmaceuticals ($33 million). millions of dollars).

But, reflecting the volatility of the sector, several of these companies have been taken over in recent months. Apria Inc., an Indianapolis-based supplier of oxygen kits, sleep apnea masks and other home health equipment, agreed to be purchased in January by global health products distributor Owens & Minor Inc. of Richmond, Va., for about $1.6. billion.

Acacia Pharmaceuticals, a developer of specialty drugs for patients undergoing surgery and invasive procedures, agreed last month to be acquired by specialty drug maker Eagle Pharmaceuticals Inc., based in Woodcliff Lake, New Jersey, for 103 .9 million.

Last year, 23 companies pledged to invest more than $500 million and hire about 2,100 workers. New or expanded operations took place in 11 Indiana cities, including Indianapolis, Carmel, Brownsburg, Fishers and Noblesville.

BioCrossroads said its primary sources for reported capital include the SBIR award website, Pitchbook Data Inc., Indiana University’s Indiana Business Research Center and other public sources.

The full report is available here.

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