NEW YORK (GenomeWeb News) – Pharmacogenomics firm GenetWorx is locating its headquarters in Glen Allen, Va., in a move that is anticipated to create at least 200 jobs.
The announcement was made earlier this week by Henrico County, where Glen Allen is situated.
Founded in 2012, GenetWorx provides DNA analysis of patients for use by clinicians in support of treatment decisions. The firm offers a test kit, which clinicians can use to collect a patient's DNA with an oral swab. The kit is mailed to GenetWorx for analysis, and the results are mailed back to the clinician.
The firm's portfolio includes tests targeting variations in cytochrome P450 2C19, cytochrome P450 2C9 and VKORC1, cytochrome P450 2D6, and others, according to GenetWorx's web site.
According to Henrico County, GenetWorx plans to lease the former Innsbrook Branch Library. The county's economic development authority is expected to consider a proposed agreement next week that would allow GenetWorx to lease the property for three years with an option to buy it.
GenetWorx expects to increase the number of its employees to between 20 and 30 in the first year after moving into the new facility. In the second year, the workforce is anticipated to increase to between 50 and 100, and after the third year, the number of employees is expected to rise to between 200 and 250, the county said.
In addition to creating new jobs, GenetWorx is expected to make a capital investment of between $2 million and $3 million into the county during a two-year period.