Predictive Physiology & Medicine, headquartered in Bloomington, Indiana is set to expand and add 75 jobs by 2010.
Founded in 2005 as a private company by Indiana University, Predictive Physiology is a life-sciences company specializing in a high-tech blood test that can warn patients of future health problems. The expansion taps into $1.35 million in state tax incentives.
The company will move its location onto a 200-acre site where Thompson TV and its predecessor Radio Corporation of America (RCA) had made Bloomington the “color television capital of the world.” Over 1,200 industrial jobs were lost when Thompson TV closed nearly a decade ago. The redeveloped land has paved the way for this new scientific labor force.
Predictive Physiology would become about the 20th tech company to open in the Bloomington area in recent years. Although plants throughout Indiana have shed more than 130,000 industrial jobs in the last decade, the rise of medical entrepreneurs has helped mitigate Bloomington’s lost factory base.
Plans call for developing a high-tech office park on the land, with Predictive Physiology as its first built office.
“This company was founded by people who wanted to establish a life science business in Indiana,” Brian Kleber, chief operating officer of Predictive Physiology.
Predictive Physiology recently launched its first product, Viveda Cardio, which provides doctors with a person’s cardiovascular profile
“Businesses like this don’t happen because of government,” said Gov. Mitch Daniels. He praised the founder of the company, Stephen Naylor, for his ingenuity.
Naylor, a former genetics professor, founded the business in part by using a Lilly Foundation grant sent through Indiana University.
Plans call for investing $10.6 million in new equipment for the office. Hiring will begin in 2009 and include lab techs, informatics specialists and managers.