# Lilly Ventures

> Lilly Ventures is a VC fund backing Biotechnology and Health Care. See 73 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Indianapolis, United States
- Total investments: 73
- Last investment: Nov 2025
- Lead investor: 26%
- Last fund: Aug 2009
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/lilly-ventures/
- Website: http://www.lillyventures.com/

Lilly Ventures is a VC fund in Indianapolis focused on Biotechnology and Health Care. Lilly Ventures is the venture capital arm of Eli Lilly and Company responsible for life science investing in North America and Europe. Its primary goal is to facilitate the success of companies in its areas of focus through early to expansion stage investments and value-adding resources. Lilly Ventures currently has $200 million under managementand focuses on three major areas of interest. It partner actively with the management teams of its portfolio companies to realize the potential of their technologies.

## Contacts

5 contacts available for Lilly Ventures. Shizune tracks 2 team members at Lilly Ventures. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/lilly-ventures?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $8.9M–$35M |
| Series B | $15M–$65M |
| Series C | $6M–$55M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 33 | 45% |
| Health Care | 25 | 34% |
| Therapeutics | 14 | 19% |
| Pharmaceutical | 12 | 16% |
| Medical | 11 | 15% |

26 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series C | 17 | 23% |
| Series A | 14 | 19% |
| Series B | 14 | 19% |
| Series D | 9 | 12% |
| Series E | 4 | 5% |

10 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United States | 36 | 49% |
| Israel | 1 | 1% |
| Australia | 1 | 1% |
| United Kingdom | 1 | 1% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Lisa Belas | Office Manager | 0 | https://shizune.co/investors/profile/lisa-belas |
| Steve Hall | Venture Partner | 17 | https://shizune.co/investors/profile/steve-hall-3 |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Quarry Thera | Quarry Thera is a biotech company distinguished by its innovative therapeutic pipeline and an unprecedented platform that enables the development of cutting-edge treatments with the potential to address significant unmet medical needs. | $32M | Series A | Nov 26, 2025 |  |
| NewLimit | NewLimit specializes in treating age-related diseases to extend the human health span. It works on developing epigenetic reprogramming medicines to treat diseases with large unmet needs. | $45M | Convertible Note | Oct 20, 2025 |  |
| BioAge Labs | BIOAGE discovers and develops drugs to treat aging and associated diseases. | $170M | Series D | Feb 13, 2024 |  |
| IpiNovyx Bio | IpiNovyx Bio is a biopharmaceutical company developing immunoproteasome-modulating therapeutics to treat autoimmune and inflammatory diseases. It helps create inhibitors to selectively target the immunoproteasome and modulate specific immune cell types for patients to recover from autoimmune and inflammatory diseases and improve their health. | $10M | Seed | Oct 05, 2021 |  |
| Evox Therapeutics | Evox Therapeutics is a privately held, Oxford-based biotechnology company focused on harnessing and engineering the natural delivery capabilities of extracellular vesicles, known as exosomes, to develop an entirely new class of therapeutics. Backed by leading Life Sciences Venture Capital groups and supported by a comprehensive intellectualproperty portfolio, Evox’s mission is to positively impact human health by creating novel exosome-based therapeutics for the treatment of various severe diseases with limited options for patients and their families.Evox has created substantial proprietary technology to modify exosomes using various molecular engineering, drug loading, and targeting strategies to facilitate targeted drug delivery to organs of interest, including the brain and the central nervous system. Exosome-based drugs have the potential to address some of the limitations of protein, antibody and nucleic acid-based therapies by enabling delivery to cells and tissues that are currently out of reach using other drug delivery technologies. Evox is leading the development within this emerging therapeutic space. | $10M | Convertible Note | Jun 09, 2020 |  |
| Kymera Therapeutics | Kymera Therapeutics is a biotechnology company that specializes in the field of targeted protein degradation. It features a proprietary predictive modeling degradation platform with a novel small molecule modality to accelerate the drug discovery designed for disease-causing proteins. | $65M | Series B | Nov 13, 2018 |  |
| Sutro Biopharma | Sutro Biopharma is a clinical stage drug discovery, development, and manufacturing company. It is mainly engaged in the development of biopharmaceutical products. The company manufactures next-generation protein therapeutics for cancer and autoimmune disorders through its proprietary integrated cell-free protein synthesis platform, XpressCF.Products offered by the company include STRO-001 for patients with multiple myeloma and non-Hodgkin lymphoma and STRO-002 for the treatment of ovarian and endometrial cancers. | $85.4M | Series E | Jul 26, 2018 |  |
| Nimbus Therapeutics | Nimbus Discovery is now Nimbus Therapeutics to reflect our transition into a clinical stage company. Nimbus Therapeutics is a biotechnology company headquartered in Cambridge, Mass., that is pioneering a new computational technology-driven paradigm to rapidly advance a diverse pipeline of novel small molecule product candidates into clinicaldevelopment. We are designing highly selective and potent medicines to disrupt known drivers of serious diseases, including metabolic disease, cancer and immune-inflammatory disorders. | $65M | Series C | Jun 05, 2018 |  |
| Kymera Therapeutics | Kymera Therapeutics is a biotechnology company that specializes in the field of targeted protein degradation. It features a proprietary predictive modeling degradation platform with a novel small molecule modality to accelerate the drug discovery designed for disease-causing proteins. |  | Series A | Oct 30, 2017 |  |
| Cavion | Cavion is a clinical stage pharmaceutical company committed to providing patients with therapies for cancer and neurologic diseases through the development of drugs that selectively inhibit the T-type calcium channel (Cav3).Built on the discovery by Cavion’s founders that ion channels are a target for the treatment of solid tumor cancers, theywere the first company to invent therapies engaging Cav3 for the treatment of solid tumors. The innovative idea of treating pathologically proliferating, non-electrically excitable cells by targeting an ion channel has already shown success in preclinical studies and is being tested in Phase 1 safety and dose-finding clinical trials in brain cancer. Their technology is intended to magnify the effects of combined chemotherapy, radiation, and targeted therapies for all solid tumor cancers.Their neurology program uses superior chemistry and clinical expertise to deliver a novel class of drugs that will provide patients with treatments for neurologic diseases. While Cav3 is an established target in neurology, particularly neuropathic pain, Cavion is working to bring the first non-addictive, non-opioid T-type calcium channel antagonist to patients with neuropathic pain. Given that Cav3 plays a role in numerous pathologic conditions, Cavion is simultaneously developing therapies for additional neurologic afflictions such as essential tremor, Parkinson’s disease, epilepsy, and Angelman syndrome. |  | Series A | Jan 06, 2017 |  |

10 of 73 investments shown.

## Co-investors
- [Novartis Venture Fund](https://shizune.co/investors/profile/novartis-venture-fund) — VC Fund, 13 deals together
- [SR One](https://shizune.co/investors/profile/sr-one) — VC Fund, 9 deals together
- [Amgen Ventures](https://shizune.co/investors/profile/amgen-ventures) — VC Fund, 7 deals together
- [Polaris Partners](https://shizune.co/investors/profile/polaris-partners) — VC Fund, 7 deals together
- [Roche Venture Fund](https://shizune.co/investors/profile/roche-venture-fund) — VC Fund, 7 deals together
- [Pfizer Venture Investments](https://shizune.co/investors/profile/pfizer-venture-investments) — VC Fund, 6 deals together

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## FAQ

### What does Lilly Ventures invest in?

Lilly Ventures invests primarily in Biotechnology, Health Care and Therapeutics startups, most often at Series C and Series A stage. Most of the 73 investments tracked by Shizune back companies in United States. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Lilly Ventures's check size?

Lilly Ventures typically joins rounds of $8.9M–$35M at Series A, $15M–$65M at Series B and $6M–$55M at Series C. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Lilly Ventures participates in.

### How do I contact Lilly Ventures?

Public channels for Lilly Ventures include LinkedIn and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Lilly Ventures?

The team at Lilly Ventures includes Lisa Belas (Office Manager) and Steve Hall (Venture Partner). The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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