High Point is competing against other locations in the Triad, New Jersey and California for the firm Apixir Pharma Sciences, which was created by three scientists through a business partnership.
The firm’s activities would include researching, developing and manufacturing drug intermediates and other products and providing research and development services to companies in the biotech, pharmaceutical and chemical industries.
The city is considering economic incentives of up to $35,000. High Point City Council will hold a public hearing on the incentives at 5:30 p.m. Monday at City Hall.
Apixir Pharma Sciences should decide on where it will locate within a few weeks, said Loren Hill, president of the High Point Economic Development Corp. The EDC announced the project Thursday.
The firm would occupy space in a building complex at Premier and Eastchester drives in north High Point.
Apixir Pharma Sciences should be in operation sometime this year, said Sreenivasa Eturi, one of the partners. The firm is considering High Point because of its business climate and existing support structure for other pharmaceutical and biotech companies.
High Point is home to at least 11 biotech companies, according to information from the N.C. Biotechnology Center.
Apixir Pharma Sciences plans to create at least 25 local jobs during the first three years of operation, according to the EDC.
The positions would be scientific and research jobs, with an average wage between $40,000 and $50,000, the EDC reports.
“Each of our partners has background in pharmaceutical research, development, manufacturing of active pharmaceutical ingredients and experience in interdisciplinary areas,” said Murty Arimilli, one of the firm’s partners. “We have accumulated experience in developing novel drugs in various therapeutic areas. Our collective strength is to offer a sustained business environment in drug development programs.”
pjohnson@hpe.com | 888-3528
Employer
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Apixir Pharma Sciences, a startup pharmaceutical and biotech firm, is considering opening in the Premier Office & Technology Park in north High Point at Premier and Eastchester drives. The name of the firm – Apixir – is derived from the term “active pharmaceutical ingredients,” or API.
The partners who have formed the company are:
• Murty Arimilli, director of research and development, who lives in Guilford County
• Sreenivasa Eturi, director of strategy, who lives in New Jersey
• Ashok Bhandari, director of business development, who lives in California
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