Wednesday, March 24, 2021 - 00:00

Expansion by Western North Carolina Contract Research Organization Creates 74 New Jobs Raybow USA Will Invest $15.8 Million in Transylvania County

Raleigh, N.C.
Mar 24, 2021

Raybow USA Inc, the North American unit of a global provider of outsourced pharmaceutical process development and manufacturing services, will expand its operations in Transylvania County. The company plans to add 74 jobs over the coming five years and will invest $15,800,000 at its existing site in Brevard.

“The pandemic has underscored North Carolina’s global reputation as the smart choice for life sciences companies,” said Governor Roy Cooper. “This expansion by Raybow USA demonstrates how 21st century biotechnology operations can flourish in every region of our state.”

North Carolina Commerce Secretary Machelle Baker Sanders participated in an announcement of the project last Friday (March 19), conducted as a virtual event published online by Transylvania County officials.

Raybow USA was founded as PharmAgra Labs in 1999 by two North Carolina entrepreneurs. Today, the Brevard-based company is the North American unit of China’s Raybow Pharmaceuticals, a publicly-held contract development and manufacturing organization (CDMO) that partners with leading pharmaceutical companies across Asia, Europe and North America. Raybow USA, which currently employs 24 in Brevard, focuses on early-stage R&D and process research through Phase II clinical trials.

Peter Halkjaer-Knudsen, Executive Vice President of Raybow Pharmaceuticals said, “Raybow Pharmaceuticals is proud to announce that, after only one year, we are ready to further increase our commitment in North Carolina. We are grateful for the warm welcome we have received and the continued support we experienced during the feasibility studies for this expansion. Transylvania County has proven to be the right choice for our North American headquarters and R&D operations and we very much look forward to the continued journey with the people of North Carolina”

Peter Newsome, Co-President of Raybow USA said, “These investments fit perfectly with our long-term goal of expanding our operations in Transylvania County.”  Roger Frisbee, Co-President of Raybow USA added, “We are excited about expanding our operations in Brevard and supporting future economic development in Transylvania County. Pete and I look forward to continuing our work, which now includes increased global capabilities and reach.”

New positions at Raybow USA will include research chemists, pilot-plant personnel and supervisors. Once the projects’ new jobs are in place, the local region will benefit from a nearly $5.7 million payroll impact in the community, each and every year.

“North Carolina pioneered contract pharmaceutical discovery more than a generation ago, and today the industry connects many of our communities with global life sciences opportunities,” said Commerce Secretary Machelle Sanders. “We welcome this major expansion by Raybow USA, whose local roots showcase the best traditions of entrepreneurship in our state.”

A performance-based grant of $375,000 from the One North Carolina Fund will help facilitate Raybow USA’s expansion in North Carolina. The One NC Fund provides financial assistance to local governments to help attract economic investment and create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments, and any award is contingent upon that condition being met.

Jason Chappell, Chairman of Transylvania County Board of Commissioners said, “We are excited by the opportunity this project brings to Transylvania County.  Raybow USA offers high-wage, high-tech job opportunities to our community. We commend the continued investment and commitment to Transylvania County and look forward to growing this partnership in the years ahead.   This is a major economic development announcement not only for Transylvania County, but for our region and North Carolina.  The success and investment of this business is a testament to the strength and vitality of Transylvania County, and our dedication to expanding and growing our economic base.   I would like to extend our warmest thanks and appreciation to Raybow’s local leadership team, CEO, Mr. Bin Wang and Chairwoman Ms. Lirong Hua for placing the company’s trust in Transylvania County. We look forward to being a continued partner in their endeavors in Transylvania County and wish them all the best success.”

Jimmy Harris, Mayor of the City of Brevard commented, “Brevard is a community of excellence. The businesses which call our community home are truly exceptional. Raybow USA has and will continue to be successful because they recognize to attract the best and brightest workforce, location matters, employees want to live and work in our special community. Our small, but vibrant community has all the benefits of traditional biotechnology hubs but with the authentic character and appeal of being one of the most recognized and celebrated small towns in America.”

In addition to the North Carolina Department of Commerce and the Economic Development Partnership of North Carolina (EDPNC), other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, the North Carolina Biotechnology Center, Transylvania County, the City of Brevard and the Transylvania Economic Alliance.

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