California-based med tech company to relocate to Westfield
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A California-based company that is developing an automatic, implantable insulin pump to control glucose levels for people with diabetes announced plans Monday to relocate to Westfield.
PhysioLogic Devices Inc. will change its name to Portal Diabetes Inc. following the company’s move from Chatsworth, California, and its product will also change names, from ThinPump to the Portal Pump.
The Portal Pump is expected to be a fully automated insulin delivery system that can store up to 12 weeks of insulin through an artificial pancreas.
“We are thrilled that Portal has chosen to relocate their headquarters to Westfield,” Mayor Scott Willis said in written remarks. “They are on the cutting edge of transforming the lives of diabetics across the globe and will make a great corporate partner in our community.”
Portal, founded in 2013, plans to lease 18,000 square feet of existing space at 16803 Southpark Drive. The company, which plans to invest about $4 million in its new location, will employ up to 35 full-time employees by 2028 with an average salary of $135,265 each. Current employees are expected to relocate to Westfield by the end of October.
“Having completed a national search of locations for Portal, we chose Westfield, Indiana, as a thriving community with a favorable business environment and access to strong life science talent,” Portal CEO Stacy Chambliss said in written remarks. “Adding its rich history in insulin manufacturing, we are glad to make Indiana our new home.”
On Monday night, members of the Westfield City Council voted 6-0 to approve a 100% personal property 10-year tax abatement. The Indiana Economic Development Corp. committed up to $925,000 in incentive-based tax credits based on Portal’s hiring plans. The Westfield Redevelopment Commission also approved a $100,000 grant to support the build-out of Portal’s facility.
“Their capital investment and high-paying jobs align perfectly with my long-term vision of creating a high technology manufacturing center in Westfield with an emphasis in the biotechnology and health care space,” Willis said.