news-record.com

HIGH POINT — A start-up biotech company is considering High Point for a new laboratory.

Apixir Pharma Sciences is also examining locations elsewhere in the Triad and in New Jersey and California, according to a news release from Loren Hill, president of the High Point Economic Development Corp.

The company plans to create at least 25 jobs during its first three years, including scientist and researcher jobs with an average wage between $40,000 and $50,000. The company would add at least $2 million to the tax base.

Apixir has asked High Point to consider incentives for up to $35,000 for the project. The High Point City Council will hold a public hearing at 5:30 p.m. Monday at the High Point Municipal Building, 211 S. Hamilton St. Any incentives authorized would be subject to a performance agreement containing benchmarks the company would have to meet.

The company would research, develop and manufacture active pharmaceutical ingredients and other products in the development cycle.

Three partners have formed the company:

• Sreenivasa Eturi – director of strategy, who currently lives in New Jersey;
• Ashok Bhandari – director of business development, who currently lives in California, and
• Murty Arimilli –director of R&D, who lives in Guilford County.