Hoosier Startup Growing in West Lafayette
WEST LAFAYETTE - A West Lafayette-based startup has announced plans to scale its Indiana operations. Pinpoint Pharma, which specializes in custom compounded medication for pets, says it will invest $240,000 to lease, renovate and equip new lab space in the Tippecanoe County city and create up to 27 jobs over the next few years.
Pinpoint Pharma is one of the first five Hoosier startups to take part in the gBETA accelerator program. The Indiana Economic Development Corp. says the company recently received its license from the Indiana Pharmacy Board and started fulfilling prescription orders this month for its customized pet medication.
"With a strong ecosystem of life sciences companies and highly-skilled workforce, Indiana is the perfect place for Pinpoint Pharma to grow and scale the compounding of our customized pet pharmaceuticals," said Arun Giridhar, co-founder and chief executive officer of Pinpoint Pharma. "After participating in the Purdue Foundry and gBETA program, we were able to sharpen our focus and build consumer awareness of the growing need for personalized medication."
Pinpoint Pharma plans to begin hiring later this year for jobs including pharmacy technology, sales and shipping. Those interested in applying can find more information by clicking here.
Giridhar is a research scientist at the Davidson School of Chemical Engineering at Purdue University and founded Pinpoint Pharma along with other Purdue faculty members. The IEDC has offered the company up to $243,000 in conditional tax credits, which it will not be eligible to claim until Hoosier workers are hired for the new positions.
Tippecanoe County and Greater Lafayette Commerce will also provide training grants for the project.