Thermal Gradient relocates from New York to Virginia
A small, biotechnology company is relocating its operations from Rochester, N.Y. to Richmond.
According to a Greater Richmond Partnership news release, Thermal Gradient has signed a 10,000-square-foot-lease at the Virginia Biotechnology Park.
The operation is expected to grow to 45 employees in the next two years.
Thermal Gradient designs and develops devices and systems that perform nucleic DNA and RNA tests.
The firm’s technology is applicable in fields such as infectious disease diagnosis, cancer detection, DNA finger printing, biodefense, and counterfeit product testing. According to Thermal’s CEO Robert Juncosa, the company is developing its first commercial product—a portable instrument capable of detecting HIV in under 10 minutes.
“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,” Juncosa said in a statement.
All scientific operations are moving to the park immediately. The remaining functions will relocate to Richmond over the next 12 months.
Richmond competed against Boston, San Francisco and Raleigh, N.C. for the project.