Indiana Protein Center announces funding coalition Protein analysis center attracts corporate and academic support for start-up Contact: Jenny Cebalo MARC USA Public Relations (317) 635-9175 (office) (317) 213-5466 (mobile) jcebalo@marcusa.com (INDIANAPOLIS, Ind., July 15, 2004) The Indiana Centers for Applied Protein Sciences (INCAPS) today announced that several of Indiana’s leading private and academic institutions have joined the Center as founding members. INCAPS is a for-profit venture that provides contract proteomic technology validation and protein analysis services for academic and private sector clients. The Center was formed through BioCrossroads, Indiana’s initiative for the expansion of the life sciences sector through business formation and attraction. INCAPS’ founding members are: Eli Lilly & Company, the Purdue Research Foundation, Indiana University Health Care Associates (the clinical practice arm of the IU School of Medicine), Indiana University’s Advanced Research and Technology Institute, Inproteo (a commercial research alliance of Lilly, Indiana University and Purdue University), and BioCrossroads. These entities have provided $1.8 million in cash and in-kind support to INCAPS as it builds the physical capacity and staff necessary to operate as a commercial enterprise. "We’re very pleased that these partners have stepped forward to promote INCAPS’ growth," said Dr. James R. Ludwig, INCAPS CEO and a veteran of Lilly’s proteomic programs. "There’s a definite market for specialized proteomic testing and validation services in academia and private industry, here in Indiana and globally. With this kind of support, we’re well positioned to capitalize on this opportunity." "The science of proteomics is changing the landscape in pharmaceuticals and a host of other industries, and INCAPS is poised to fill a critical infrastructure gap in this growing sector," said Dr. August Watanabe, Chairman of BioCrossroads. "On behalf of BioCrossroads, we’re pleased to support this effort and look forward to many successes ahead." INCAPS is housed at the Indiana University Emerging Technologies Center (IUETC) in downtown Indianapolis. "Having INCAPS as a tenant in the IUETC is a big plus for us," said Mark Long, President and CEO of the IUETC. "We believe it will be a fast-growing company and another success story for the IUETC, especially with the coalition that is backing INCAPS." "The formation of INCAPS has led the IU School of Medicine to move its proteomics core into IU’s Emerging Technologies Center to join INCAPS as the Protein Analysis Research Center," explains D. Craig Brater, dean of the IU School of Medicine. "This allows the core, created through the Indiana Genomics Initiative grant from the Lilly Endowment, to ensure that scientists at Indiana universities requiring proteomic services will have access to the very latest technology at a reasonable cost." "This organization represents a major milestone in the development of a life sciences business cluster in Indiana," said Dr. John Hurrell, President of Inproteo. "Under the stewardship of BioCrossroads, INCAPS will play a significant role in the establishment of new life sciences companies, be a magnet for the location of existing life sciences businesses to the region and provide crucial support for inventors and budding entrepreneurs." Joe Hornett, Purdue Research Foundation Senior Vice President and Treasurer added, "INCAPS is another tangible example of Purdue University's commitment to engagement through strategic initiatives. As with Inproteo, the Purdue Research Foundation is proud to partner in this effort designed to spur economic development." "It’s an exciting time for INCAPS and a great time to tap into the protein analysis market," Ludwig finished. About the Indiana Centers for Applied Protein Sciences The Indiana Centers for Applied Protein Sciences, a Protein Center of Excellence, is a for-profit venture providing proteomic technology validation and protein analysis services for academic and private sector clients. The Center was formed through BioCrossroads, Indiana’s life sciences initiative. Learn more at http://www.indianacaps.com About BioCrossroads BioCrossroads is Indiana’s life science initiative, a public-private collaboration that supports the region’s research and corporate strengths while encouraging new business development. With government, industry and academic resources aligned to accelerate business growth, the region is fertile ground for investors and entrepreneurs to build new ventures. Learn more at http://www.biocrossroads.com.