Lilly is committing $92.5 million at Purdue to establish an innovative pharmaceutical development scholarship program and expand research collaborations. | So Good News

Scholarships will prioritize students from underrepresented groups who have overcome disadvantage or are first-generation to attend college.

The research collaboration aims to develop new ways to deliver therapies to patients.

INDIANAPOLIS AND WEST LAFAYETTE, IND – Purdue University and Eli Lilly and Company (NYSE: LLY) are establishing an innovative pharmaceutical development scholarship program and renewing a strategic research partnership that will expand their impact in Indiana and improve lives around the world. Lilly has committed $92.5 million to the West Lafayette campus through these two programs.

Lilly’s commitment provides up to $42.5 million over 10 years in pharmaceutical development scholarships for incoming Purdue undergraduate students, awarded to 75-100 talented students each year. With a guaranteed internship or co-op at Lilly, full tuition and a commitment to working with company leaders. The new Lilly Scholars program is aimed at undergraduate students who are underrepresented in Purdue’s student population; Preference will be given to undergraduate students who have overcome socioeconomic or educational disadvantage or who are among the first generation in their families to attend college.

“Lilly is among Purdue’s most important partners, and this latest commitment reaffirms our long-standing partnership. Through these partnerships, Lilly and Purdue help build a critical pharmaceutical ecosystem in the heartland,” said Purdue President Mitch Daniels. “We have a company committed to advancing research and producing talent. Lilly connects with students before they arrive on campus, rather than waiting until later in their college careers.” Investing in students early in their education.”

The Lilly Scholars program will provide prospective students with the opportunity to compete for a role at the company upon graduation. The first scholarships will be offered for fall 2023.

Purdue and Lilly have a historic relationship dating back to the institution’s founding years. The institutions joined a new strategic research collaboration in 2017, funded by an initial $50 million commitment from Lilly. These collaborative research efforts have helped us understand the physiology of drug delivery and develop technologies to improve drug delivery for better patient outcomes and experiences. Lilly and Purdue are now expanding their research collaboration, signing a new $50 million master agreement that will extend research activities for an additional five years, including genetic medicines, The focus is on enteral administration and nanoparticle delivery.

“As the number of people who can benefit from our innovative medicines continues to grow, We’re investing to advance critical research and build a more diverse pipeline of talent in Indiana. Together with Purdue, we can keep Indiana’s best and brightest and help Lilly make life better for millions of people,” said David A. Ricks, president and CEO of Lilly. “As a Purdue graduate, I’m proud of the success the university has built, and I’m even more proud to see Lilly and Purdue continue to make both institutions better and better.”

Basic research at the Purdue department helps Lilly accelerate the development of technologies and medicines, speeding treatments to patients who need them. In the past eight years, Lilly has introduced 18 new medicines to improve the lives of patients with diseases such as diabetes and cancer. The company aims to introduce four potential new drugs in the next 18 months.

“Purdue’s approach to integrative research with Lilly is driven by an impact-focused mindset aimed at improving patients’ lives. Our collaboration spans training and development to state-of-the-art research and facilities,” said Theresa Mayer, Purdue University executive vice president. Chair of Research and Collaboration. “The extension of our agreement will continue to provide exceptional opportunities to hundreds of graduate students and graduates from across the country.”

Both Lilly and Purdue have made strategic commitments in recent years to strengthen expertise and programs in areas of the life sciences, including pharmaceuticals.

Earlier this year, Purdue established the William D. Young Institute for Advanced Manufacturing, which focuses on increasing multidisciplinary efforts to reduce the cost of pharmaceutical manufacturing and expand access to new drugs emerging from biotechnology research. The institution has pursued a $250 million investment in life sciences as part of the Purdue Moves strategic plan. It consists of three academic institutes across the university: the Purdue Institutes of Drug Discovery; inflammation Immunity and Infectious Disease; Integrative neuroscience helps attract top professors in critical research areas. Purdue also invests in state-of-the-art facilities, including the Bindley Bioscience Center, which provides unique infrastructure to support interdisciplinary research.

Over the past five years, Lilly has committed more than $6 billion in drug development globally. It includes a $2.1 billion and 500 new jobs LEAP Technology Park in Boone County, Indiana, announced in May 2022; Including up to 1,500 jobs during site construction.

“Collaborations between academia and industry are essential to innovation to bring therapies to patients as quickly as possible,” said Edgardo Hernandez, executive vice president and president of product operations at Lilly. “By expanding our footprint in Indiana, these initiatives with Purdue will bring a highly skilled pipeline of diverse talent and enhance our manufacturing capacity to deliver medicines to patients around the world.”

As Lilly and Purdue new curriculum; experiential learning; Working together on pharmaceutical manufacturing certificate and degree programs, they will continue to advance pharmaceutical manufacturing in Indiana. Extend Purdue’s capabilities to the company. With students supported by the new scholarship program. Every year, Lilly engineers, sales finance human resources; marketing; purchase, Purdue hires graduates in fields such as supply chain and more. In fact, Lilly has produced nearly 2,500 Purdue graduates, more than any other university.

“These commitments will better position Purdue to recruit the best, brightest and most diverse students we can,” said Kristina Wong Davis, Purdue’s assistant provost for enrollment management.

About Lilly

Lilly combines caring with discovery to create medicines that improve lives for people around the world. We’ve been pioneering life-changing discoveries for nearly 150 years, and today our medicines help more than 47 million people worldwide. biotechnology; Harnessing the power of chemical and genetic medicine, our scientists address some of the world’s most pressing health challenges. to redefine diabetes care; to treat obesity and reduce its worst long-term effects; New discoveries are rapidly advancing the fight against Alzheimer’s disease. disease Solutions for some of the most devastating immune system disorders and turning the most difficult-to-treat cancers into manageable diseases. With every step towards a healthier world, we inspire something that makes life better for millions of people. This includes delivering innovative clinical trials that reflect the diversity of our world and working to ensure our medicines are accessible and affordable. To learn more Visit Lilly.com and Lilly.com/newsroom or Facebook; Follow us on Instagram Twitter and LinkedIn.

About Purdue University
Purdue University is a leading public research institution developing practical solutions to today’s most pressing challenges. Ranked as one of the 10 most innovative universities in the United States for the past five years by US News & World Report, Purdue offers world-changing research and out-of-this-world discovery. real world and online; Committed to real-world learning, Purdue offers a transformative education for everyone. Committed to affordability and accessibility, Purdue has frozen most tuition and fees in the 2012-13 phase, enabling more students than ever to graduate debt-free. See how Purdue never stops in its relentless pursuit of the next giant leap at https://stories.purdue.edu

Cautionary Statement Regarding Forward-Looking Statements

This press release describes Lilly’s recent collaborations and commitments with Purdue (as that term is defined in the Private Securities Litigation Reform Act of 1995) and reflects Purdue’s and Lilly’s current beliefs and expectations. However, there is no guarantee that these partnerships and commitments will achieve the desired goals. See Lilly’s Form 10-K and Form 10-Q filings with the United States Securities and Exchange Commission for further discussion of risks and uncertainties that may cause Lilly to differ from its expectations. Except as required by law, Lilly undertakes no obligation to update any forward-looking statement to reflect events after the date of this release.

Media Contacts: Molly McCully; [email protected]; (317) 478-5423

Brian Huchel [email protected]