Genapsys, a Silicon Valley-based bioscience company, will expand into Westminster and plans to hire up to 250 employees for its new location, officials said Wednesday.
Genapsys develops technology that it says will pave the way for universal access to genomic information and make more advanced DNA studies easier for both academic and clinical researchers, company CEO Jason Myers told The Denver Gazette.
“It will lead to many advancements in all aspects of health care,” Myers said. “Our diagnostic tool is really important in the oncology space.” Many researchers use technology that’s almost 20 years old to study DNA, he said.
“The market is prime for disruption,” Myers said. “DNA sequencers are more affordable, more flexible and have operational efficiencies. … I liken it to decades ago we had to use computer mainframes, and you had to go to a mainframe center. Then there was the desktop computer, the laptop and now cellular phones and cloud technology. The same kind of democratization is going to happen in this space as it becomes more affordable and easier to use.”
Genapsys is based in Redwood City, California, with about 160 employees. The company has hired 85 workers in the last 12 months alone. With the Westminster expansion, Myers hopes Genapsys can grow to between 500 and 700 employees in the “next few years.”
“Colorado is a fast-growing bioscience hub, so we are thrilled to have Genapsys join our thriving state and help create good-paying jobs as we move Colorado forward. Our state is attracting businesses, investments and creating jobs because we are the best place in the country to live, work and thrive,” Gov. Jared Polis said in a statement.
When Genapsys applied for state economic development funds, it said it would create up to 240 new jobs, with an average pay of $111,369 for chemists, biologists, engineers and administrative workers.
The state approved $4.5 million in job growth incentive tax credits over the next eight years, once the company proves it has made the hires. Up to 15 of those jobs would be for remote workers from rural areas in the state under the Location Neutral Employment Incentive worker program.
Myers said Westminster is a talent-rich location. “That whole stretch between Denver and Boulder has become a technology and biotech corridor,” he said. “There’s not too much biotech in downtown Denver, or the Denver Tech Center, so we’re really fitting in where the people are. … Colorado’s talent pool is amazing, with chemists, biochemists and engineers.”
The company has leased space near Wadsworth Boulevard and U.S. 36, near the Ball Aerospace location.
“The Denver market has emerged as a life sciences and biotech hub, offering an excellent opportunity for business-to-business collaboration,” he said. “In addition, the local talent from universities, favorable taxes and incentives will allow us to quickly scale consumable manufacturing and increase our research and development efforts.”
See original story at The Denver Gazette, here.