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BioConvergence LLC Partners with Eli Lilly and Company (LLY)


3/28/2008 12:08:08 PM

At 2:00pm ET, today BioConvergence will host a ribbon-cutting ceremony at its Bloomington, Indiana headquarters to announce a significant partnership with Eli Lilly and Company to provide global materials management services for Lilly’s large and growing pipeline of products.

Alisa Wright, CEO, BioConvergence, reported that “the partnership includes a 10 year, multi-million dollar contract and has already created 15 new life sciences jobs for Hoosiers.” Wright noted the initial investment includes new equipment and a 21,000 square foot expansion to service the needs of Lilly. Long term, forecasted client demand for existing and new services will create 170 jobs and additional facility expansions. “As a small, yet growing life sciences firm, it is so important to have reputable firms like Lilly that value partnerships with small local firms. We would not be where we are today without Lilly’s commitment to our business.” said Wright.

“In order for the pharmaceutical industry to continue to bring new, life saving medicines to market, Eli Lilly and Company recognizes the growing need to develop fully integrated networks with external partners. This deal is part of our ongoing transformation of moving Lilly from a Fully Integrated Pharmaceutical Company or FIPCo to a Fully Integrated Pharmaceutical Network or FIPNet. These collaborative efforts will not only help seed new opportunities for Indiana’s workforce, but also enable our business to grow in a changing marketplace,” said Bill Heath, Vice President, Product Research and Development, Eli Lilly and Company. “Our strategic business partnership with BioConvergence will allow us to lower the cost of our pipeline’s development process by introducing efficiencies within our global supply chain, as well as support diversity partnerships in our supplier base and invest in our Indiana community.”

David Johnson, President & CEO, BioCrossroads said, “Indiana is a leading center for biopharmaceutical development, and our more than 40 contract service providers, like BioConvergence, directly support the continued growth of this region’s and the nation’s biotechnology and pharmaceutical industry. Having two local companies, one an entrepreneurial contract development company and the other, the original cornerstone of our life sciences community collaborating on this project is a symbol of Indiana’s strong life sciences sector.”

About BioConvergence LLC BioConvergence is a contract solutions provider for the biotech and pharmaceutical industries utilizing innovative technology and experienced staff to reduce the time and cost of bringing new products to the clinic and to market. We offer the following services to our global client base: product development, toxicology and clinical manufacturing & packaging, QC testing, supply chain & materials management, and consulting services. We are the first in our industry to offer a secure E-Transparency™ Solution through which clients gain access to all work performed and data collected. BioConvergence is a women-owned, small business headquartered in Bloomington, Indiana.

Contacts: Steve Bryant, Business Development & Marketing Manager, 812.961.1700, steve.bryant@bioc.us Alisa K. Wright, CEO, 812-961-1700, alisa.wright@bioc.us

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