ROCHESTER, N.Y., Oct. 20, 2015 /PRNewswire/ -- Thermal Gradient and the Greater Richmond Partnership announces that Thermal Gradient, Inc., has chosen to relocate its operations from Rochester, NY to the Richmond Region. The molecular diagnostics solutions company recently signed a 10,000 sq.ft. lease to become a resident business in the Virginia Biotechnology Research Park in the City of Richmond.
Thermal Gradient designs and develops devices and systems that perform nucleic acid (DNA/RNA) tests. The firm's unique technology is broadly applicable in such diverse fields as infectious disease diagnosis, cancer detection, DNA finger printing, biodefense, and counterfeit product testing.
All scientific operations are moving to the Park immediately. The remaining functions will relocate to Richmond over the next 12 months. Thermal Gradient expects to grow to 45 employees in the next two years.
"Thermal Gradient is a small company with a lot of potential," said Barry Matherly, Partnership President/CEO. "The Virginia Biotechnology Research Park will allow them room to grow, attract talent and work among like-minded firms."
"We are pleased to welcome Thermal Gradient to the life sciences community of the Research Park," said Carrie Roth, President/CEO of the Virginia Biotechnology Research Park. "Our ability to assist with and the proximity to the resources they need to grow – both within the Research Park and throughout the region – will provide the environment to help foster their success."
"We are in development of our first commercial product, a portable instrument capable of detecting HIV in under 10 minutes," said Robert Juncosa, CEO of Thermal Gradient. "The greater Richmond area better suited our expansion needs because it offers a more favorable tax structure, a larger scientific and engineering labor pool, as well as available facilities that don't require significant build out expenses." "The Greater Richmond Partnership was an excellent partner and played a very important role in the site location process. Of all the economic counsels we worked with, the Partnership was the most prepared and efficient."
The Richmond Region competed against Boston, Mass., San Francisco, Calif., and Raleigh, N.C. for Thermal Gradient's relocation. The firm originally contacted the Partnership after finding information on its website, www.grpva.com. Within a week, a site visit was scheduled and company representatives were hosted in the region.
Greater Richmond's quality of place helped Mr. Juncosa's decision. "Richmond's proximity to the Chesapeake Bay and its temperate climate are both factors we look forward to enjoying," said Juncosa.
About Thermal Gradient
Thermal Gradient develops devices and systems for rapid molecular diagnostics based on their proprietary thermal cycling and nucleic acid extraction technologies. The company is presently developing products for nucleic acid testing research and infectious disease detection. The company is also pursuing collaboration and technology licensing opportunities.
About the Partnership
The Greater Richmond Partnership, Inc. was launched in 1994 as a pioneering regional public-private initiative to serve as the regional economic development group for the City of Richmond and counties of Chesterfield, Hanover and Henrico. Over the course of 21 years, the 501(c)(3) non-profit organization has assisted more than 465 companies that have invested $10.8 billion in capital investment in the Richmond Region. For more information, please visit www.grpva.com.
About the Virginia BioTechnology Research Park
The Virginia BioTechnology Research Park is a life sciences community adjacent to the Virginia Commonwealth University (VCU) Medical Center―housing private sector companies, research institutes, non-profits, and state and federal laboratories on a 34-acre campus in downtown Richmond, Virginia. The Park is home to over 60 private and non-profit companies, state and federal laboratories, and research institutes/administrative functions of VCU and the VCU Health System, employing approximately 2,400 researchers, scientists, engineers and support personnel.
Contact: Robert Juncosa, Chief Executive Officer
Thermal Gradient, Inc.
585-425-3338, [email protected]
SOURCE Thermal Gradient