NEW ORLEANS — A biomedical company is expanding and bringing at least 425 new jobs to New Orleans.
Louisiana Economic Development Secretary Stephen Moret says Renaissance RX will make an $8 million capital investment in a new headquarters location in the city's central business district. Founded in 2012 with five employees at the New Orleans BioInnovation Center, it plans to consolidate its operations into a larger 30,000-square-foot building.
The company provides pharmacogenetic testing revealing how patients respond to specific medications based on their genetic makeup. Moret, in a news release, said Tuesday the expansion will enable the company to quickly scale up its headquarters and lab functions to support rapidly growing demand for its personalized medicine services.
The new jobs will average $54,100 per year, plus benefits.