Mason-based AssureRx Health Inc. is announcing major expansion plans this morning with city officials.
The four-year-old biotech company told The Enquirer last month it planned to announce plans to triple its office space by the end of the year.
The company now leases about 3,500 square feet in the Columbia Commons business park off Interstate 71.
City officials and executives from AssureRx will release details at a news conference at the Mason Community Center.
Among the officials expected to participate in the announcement: Mason Mayor Don Prince; Vice Mayor David Nichols; Jim Burns, CEO, AssureRx Health Inc.; and Denyse Ferguson, vice president/economic development, Cincinnati USA Regional Chamber.
The company, which started the year with 13 employees, expects to have more than 40 on staff by year-end as it continues to roll out its GeneSightRx test kit, designed to help psychiatrists find the right drug for patients requiring antidepressant or antipsychotic treatment.
The test uses a cheek swap from the patient to help doctors determine how the patient might respond to specific medications based on his or her genes.
Sales were forecast to top $4 million this year and hit $25 million in three years, but CEO James Burns said the company is ahead of expectations.
It plans to introduce two new products in development in the first half of next year and pursue another round of venture funding in the second half of 2012.
AssureRx, which received $11 million in funding from two nationally known venture capital firms earlier this year, recently hired three executives to flesh out its seven-member senior staff.
(via Cincinnati.com)
