Indiana-based global life sciences and research university executives are unveiling the first industry-led collaborative life sciences research institute in the country.
The Indiana Biosciences Research Institute is a collaborative effort designed to discover, develop and deliver biosciences innovations.
The state legislature has allocated $25-million for the venture.
Another $25-million in private donations is being sought to pay a still-to-be-named CEO and other officials.
That leaves the project as much as $300-million short of its goal.
And officials say they still need to come up with a plan for how to share ideas, patents or money generated by the collaboration.
But they say once it’s up and running, the institute will create jobs, attract talent from around the world and retain more Hoosier graduates in the state.