RxLightning, a tech startup that has developed a software platform to streamline the specialty medication enrollment process, plans to expand in its hometown of New Albany and create up to 175 jobs by the end of 2025.
The company, which launched in late 2020, plans to move from its current base of operations to a three-story historic building at the corner of Market and Pearl streets in downtown New Albany by the end of the year.
It expects to invest more than $500,000 in the expansion. Co-founder and CEO Julia Regan said the company considered other locations but decided to remain in southern Indiana.
“This is an incredibly exciting move for RxLightning,” Regan said in a media release. “Our new expanded headquarters will allow us to continue our growth and work collaboratively to accelerate the speed at which patients get access to medicine they need.”
RxLightning says its platform connects prescribers, specialty pharmacies, manufacturers, payers and foundations in one place with the goal of helping patients get access to more than 1,200 specialty medications in a much more efficient manner.
The company currently employs about 35 people and is hiring for software engineers, implementation managers, business development leaders, marketing experts and other positions.
RxLightning was a big winner at this year’s TechPoint Mira Awards for Indiana technology companies, taking home Tech Product of the Year and Startup of the Year honors.
Speaking to Inside INdiana Business Host Gerry Dick at the Mira Awards gala in April, Regan said the RxLightning platform automates the lengthy paper processes required to receive specialty medications.
“When providers prescribe those medications, there’s a lot of paperwork, phone calls and faxes that occurred. And as a result, sometimes takes weeks or months for patients to get through the approval processes and get to start the meds,” said Regan. “And now patients are getting the medications and days instead of weeks.”
Based on RxLightning’s expansion plans, the Indiana Economic Development Corp. plans to offer the firm up to $4 million in conditional tax credits, pending approval from the IEDC Board of Directors. The company will not be eligible to claim the incentives until Hoosier workers are hired for the new jobs.
The city of New Albany has offered $120,000 in training grants, which will be distributed over a five-year period.