Indiana University has landed a $138 million grant from the Lilly Endowment that will fund construction of a state-of-the-art facility to drive advancements and commercialization in biosciences and develop talent in the sector.
IU announced the gift Thursday morning, calling it the largest grant it has ever received in support of research and development. The grant from Indianapolis-based Lilly Endowment is to the IU Foundation.
The money will help establish what the university is naming the IU Launch Accelerator for Biosciences, known as the IU LAB, which will be based at the 16 Tech Innovation District.
The IU LAB will be housed in a six-floor, 150,000-gross-square-foot facility that is expected to open in 2027 and will serve as IU’s permanent home in the 16 Tech Innovation District.
The university said the initiative will enhance Indianapolis’ growing human health innovation sector, and will collaborate with the IU School of Medicine, 16 Tech, Central Indiana Corporate Partnership, BioCrossroads, Indiana Biosciences Research Institute, Regenstrief Institute and Indiana University Health.
The IU LAB will build on IU’s $250 million investment, announced in 2023, to position the university as a global leader in life sciences and biotechnology innovation. It will be critical in meeting ambitious goals outlined in the IU 2030 strategic plan.
