A new biotech company is basing its first research office in downtown Tampa, with plans to hire 12 new executive and research positions by 2023.
NuMedTechs will initially open at Quest Workspaces, a shared office in the Rivergate Tower, with plans to establish a permanent lab within the next two years.
NuMedTechs has roots in Canada, where Montreal Heart Institute researchers developed a pulmonary hypertension testing product called PulmoBlind. U.S. private equity firm the Econophy Group acquired the company that held PulmoBlind’s patents, enabling it to build a new company around their potential for lung treatment.
“Tampa’s established life sciences sector, strong talent pool, and access to local and regional support make it a perfect location for us to establish this newly formed company,” Econophy Group founder and CEO M. Damian Billy said in a statement. “We anticipate ramping up operations for NuMedTechs quickly and look forward to contributing to the innovation and scientific breakthroughs happening in Tampa.”
A Tampa Bay Economic Development Council announcement about the new office said NuMedTech will focus on “diagnosing respiratory conditions caused by particulate matter in the air due to climate change,” as well as conditions like tuberculosis and embolisms.
“NuMedTechs is an excellent addition to our thriving life sciences and biotech ecosystem,” EDC chairperson James Nozar said in a statement. “We’re thrilled NuMedTechs has chosen to establish its U.S. operations in Tampa and conduct lifesaving research and development here.”