Lexington-based Laboratory and BioDiagnostics LLC (LabDx) and Louisville Bioscience have been awarded money from the Kentucky Cabinet of Economic Development’s High-Tech Investment Pool to help fund expansions that are expected to create 36 new high-tech jobs.
LabDx is employing technology to permit transferring lab results directly from the company’s new medical lab to customers’ electronic medical records systems. The company has been approved to receive up to $250,000 to purchase equipment and outfit the company’s lab. LabDx, which is a client of the Lexington Innovation and Commercialization Center, anticipates that the expansion will create a minimum of 18 full-time high-tech and technical support jobs with an average annual salary of $64,500 by the end of next year.
Louisville Bioscience utilizes a proprietary lab technique that profiles a patient’s blood plasma proteins to help detect autoimmune and infectious diseases and cancer in their early stages. The new platform technology is also expected to have other applications, including identifying biomarkers and targets for new drugs.
The company has an exclusive license from the University of Louisville to two patent applications that cover the use of a specific blood test to help detect and monitor diseases. The company will receive up to $250,000 from the state to help pay patent protection expenses and purchase lab instruments and equipment, and was approved for tax incentives up to $300,000 under Kentucky’s new incentive program, the Kentucky Business Investment (KBI) Program. The incentive can be earned over a 10-year period through corporate income tax credits and wage assessments.
A client of the Louisville Innovation and Commercialization Center, Louisville Bioscience anticipates it will create a minimum of 18 full-time high-tech and technical support jobs by the end of 2012. The jobs will pay an average annual salary of $70,000, exclusive of benefits.