The Indiana Biosciences Research Institute has announced that gifts from its corporate and philanthropic partners have pushed it past its $50 million start-up funding goal.

The institute launched its fundraising campaign in May, after the Indiana General Assembly appropriated $25 million in matching funds. By reaching its goal, the institute is in an enviable position to recruit a world-class CEO, attract top scientific talent, initiate scientific activities, and organize the next phase of its fundraising campaign, which aims to raise an additional $310 million.

Recent contributions include $7.5 million from Eli Lilly and Company and $4.5 million from Roche Diagnostics, with additional funding from Dow AgroSciences, Indiana University Health, and Indiana University. Long-term institute operations will be funded through the development of an endowment, industry-sponsored research, and federally funded research. Initially, the institute will focus its research on cardiovascular disease, diabetes, obesity, and nutrition.

"Today's announcement represents a significant investment by Lilly in the future of Indiana and in the future of biosciences research," said Eli Lilly chair and CEO John Lechleiter. "Each year in Indiana, billions of dollars are invested in research and development to advance medical innovation. This institute will help Indiana attract additional global talent and will nurture partnerships across the state and across the country — keeping more research dollars in Indiana and attracting more federal research funds to our state."