Advancing Indiana’s Promising Science
Authored by Lisa Davis, Senior Director, Business Development
Indiana’s life sciences industry is gaining momentum as a global leader. Our robust ecosystem, strategic partnerships, and strong investments are propelling Indiana to the forefront of medical advancements and transforming global health. According to the BioCrossroads Annual Report 20251, Indiana recorded 1,017 new patents, 84 new FDA approvals, $192M in venture capital funding, $6.8B in M&A activity, and $223M raised in public offerings.
The sector plays a significant role in the state’s long-term economic growth and innovation strategy. Continued access to capital is critical to sustaining this momentum. Local investors continue to support incubators, lab space, and pre-seed efforts, which typically range from $100k up to $1-2 million for capital-intensive startups. What remains limited is capital alignment in the $5 million to $10 million range needed to move startups to the next development stage. Data shows that 9 in 10 startups fail to progress from seed to Series A funding due to more demanding requirements, higher revenue targets, and a need for stronger market presence.2 Without targeted support, strong scientific programs risk failing because of capital constraints rather than a lack of technical merit.
The Indiana Economic Development Corporation (IEDC) and Indiana Biosciences Research Institute (IBRI) have partnered to strengthen Indiana’s biotech ecosystem through the creation of a Senior Director, Business Development role. Supported by grant funding, the goal of this position is to connect Indiana-based life sciences startups and qualified companies with strategically aligned investors to help fund life sciences development.
As Kristin Sherman, CEO of Kovina Therapeutics shares, “I continue to believe this position will be incredibly valuable to the handful of startups it is intended to support. At our early stage, we simply don’t have the capital to hire our own fractional BD support, and this is a great way for IEDC resources to reach startups in the trenches working to move promising science forward.”
The mission is clear: champion Indiana-based life sciences startups and connect qualified companies with seed-to-Series A investors. My experience shaping strategy and driving profitable growth across life sciences, diagnostics, medical devices, and animal health is directly aligned with that mission. I look forward to working alongside a team that is helping Indiana advance promising science, bringing next-generation therapies to market, and transforming the patient experience for millions of people.
For investors seeking compelling inventions, researchers looking for clinical partners, and companies deciding where to expand, Indiana offers a rare combination: the capacity to invent, the infrastructure to make, and the networks to move life sciences products at scale. Looking to invest in Indiana’s growing life science sector? Let’s connect: ldavis@indianabiosciences.org
1. BioCrossroads.2025 Annual Report. Biocrossroads.com. Published: March 18, 2026. Accessed: September 15, 2026. 2025-Annual-Report-for-Web-Final-1.pdf
2. Raisek. Why startups fail: The Hidden Truth Between Seed & Series A Funding. Raisek.com. Published: August 29, 2025. Accessed: September 15, 2026. https://raisek.com/category/funding/funding-rounds/seed/
