Male fertility start-up investing $1.4 million in Albemarle County headquarters

view original post

© Provided by WSET Lynchburg/Roanoke

Gov. Glenn Youngkin announced Wednesday that PS-Fertility, Inc. will invest $1.4 million to establish an operation in Albemarle County. The life sciences start-up, which will commercialize a novel male fertility diagnostic technology originally developed at the University of Virginia, will lease 4,000 square feet of space at 3030 Vision Lane in Charlottesville, which will serve as its headquarters and house a test kit assembly operation and a diagnostic laboratory.

“Virginia continues to advance as a hub for cutting-edge research and development, and we are proud that this technology developed at one of our leading universities will have positive ripple effects on the life sciences industry in the Commonwealth,” Gov. Youngkin said. “Start-ups and small businesses are critical to Virginia’s future, and PS-Fertility is a homegrown success story that reinforces our commitment to providing an environment that encourages innovation and entrepreneurship. We look forward to supporting the company’s next chapter of growth in Albemarle County.”

SEE ALSO: Virginia General Assembly to tackle taxes, abortion, energy as major issues in session

According to the Governor’s office, PS-Fertility plans to create 31 new jobs. The company’s diagnostic product tests for the presence of a biomarker on sperm cells necessary for fertilization, making it possible to gain more information about a male’s fertility. PS-Fertility will use an at-home sample collection model, where individuals will mail samples to the laboratory from across the country.

“Virginia is the birthplace of innovations, and PS-Fertility’s groundbreaking discovery demonstrates the importance of our entrepreneurial ecosystems that lead to new technologies and products, ultimately resulting in new jobs,” said Secretary of Commerce and Trade Caren Merrick. “We are excited to see the company grow its enterprise in Albemarle County and thank PS-Fertility for creating 31 new jobs in the region in which it was founded.”

The Virginia Economic Development Partnership (VEDP) worked with Albemarle County to secure the project for the state, and will support PS-Fertility’s job creation through the Virginia Jobs Investment Program (VJIP). The VJIP provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities. As a business incentive supporting economic development, VJIP reduces the human resource costs of new and expanding companies.

CONTINUE READING: New job openings at Caesars Virginia

“The Virginia Economic Development Partnership comprehensively met our company’s needs, recognizing that this valuable scientific discovery made at the University of Virginia has significant benefits for people interested in reproductive health as well as to the state’s economy,” said Kevin Combs, CEO of PS-Fertility, Inc. “As a result, we anticipate launching our company’s advanced testing platform to measure and analyze ma e fertility levels in the very near future.”

The VEDP and VJIP are state-funded programs that demonstrate Virginia’s commitment to enhancing job opportunities for its citizens.

Continue Reading