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Last updated on Thursday, February 25, 2016
(INDIANAPOLIS) - Indiana’s fledgling biosciences institute is getting more than $100 million to help spur its collaborations between industry and academia.
Officials announced Wednesday that the Lilly Endowment is making an $80 million grant to the Indiana Biosciences Research Institute and Eli Lilly and Co. Foundation is adding $20 million.
The announcement comes as the institute prepares to break ground on its new 75,000-square-foot site near downtown Indianapolis that will anchor a 50-acre technology park. It will be called 16 Tech.
The institute plans to focus on heart disease, diabetes and nutrition. It formed in 2013 and already has $50 million on hand from a state grant and private donations.
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