INDIANAPOLIS & ITHACA, N.Y.--(BUSINESS WIRE)--More than 150 people attended the dedication of the Advion BioSciences Drug Discovery & Metabolism Center of Excellence at the Purdue Research Park of Indianapolis.
The opening is a recent example of an international company choosing Indiana for its Midwest life sciences research facility and how the state continues to outpace the rest of the country in life sciences growth. According to a 2010 report by the Battelle/Biotechnology Industry Organization's "State BioScience Initiatives" report, Indiana's annual biosciences job growth is 17.2 percent compared to the national average of 15.8 percent.
Advion, which provides a range of laboratory testing services and laboratory equipment to pharmaceutical developers and university researchers, invested more than $6 million to construct and equip 22,000 square feet of leased space at the park. The firm will do contract research for Eli Lilly and Co. and other types of bioanalytical assays in the new facility. About 50 research professionals work in the new facility.
"There is a high demand for early-stage bioanalytical services and this new center will enable us to expand our drug discovery, metabolism and development services for pharmaceutical and biotechnology companies," said David B. Patteson, CEO and president of Advion BioSciences, the parent company of Advion BioServices. "The opportunity to open a facility in Indianapolis not only provides us with a talent pool of experienced scientists, but also aligns with our corporate goals of increasing our global footprint in this important research area."
Headquartered in Ithaca, N.Y., Advion BioSciences operates in two divisions, Advion BioServices, which operates testing laboratories for pharmaceutical research, and Advion BioSystems, which provides laboratory systems and consumables for life science researchers.
"Advion is a good fit for Indianapolis and the Purdue Research Park of Indianapolis because of the strength of life sciences in the state and the park's proven track record of providing high-tech companies with the resources to expand," said Joseph B. Hornett, senior vice president, treasurer and COO of the Purdue Research Foundation. "This move will bring the park's 55,000-square-foot facility to near capacity."
There are 14 new and expanding companies in the Purdue Research Park of Indianapolis.
"Indiana is outpacing the national average in economic growth in the life sciences and Advion's decision to open a research facility in Indianapolis is a great benefit to us and to them," said Mitch Roob, Indiana Secretary of Commerce and CEO of the Indiana Economic Development Corporation. "We have a strong and growing life sciences sector and we have qualified graduates coming out of our universities as well as experienced professionals in the life sciences to fill the positions that Advion needs."
The IEDC offered Advion BioServices Inc. up to $650,000 in performance-based tax credits and up to $30,000 in training grants based on the company's job creation plans. Develop Indy provided an additional training funding and support property tax abatement from the City of Indianapolis.
"The opening of Advion’s new drug discovery and metabolism center in Indianapolis demonstrates that conditions are right for companies to develop and grow their business here," said Indianapolis Mayor Greg Ballard. "We welcome this new facility and the biosciences jobs it brings to Indianapolis. Advion’s expansion is the result of our latest in a series of recent efforts designed to stimulate innovation and growth in our business community."