Lilly pours another $10M into public-private Indiana research institute

Eli Lilly ($LLY) is pitching in $10 million to fund the Indiana Biosciences Research Institute, a public-private life sciences organization launched by local luminaries including Cook Medical, Biomet and Roche Diagnostics ($RHHBY). Lilly already contributed to the organization's $50 million startup funding, and the company's latest grant is designed to encourage collaboration between government, academia and industry on new drugs, devices and diagnostics. More