In attendance was Winston-Salem Mayor Allen Joines who stated, "Bringing new businesses like RTB through its partnership with WPDA to our city is vital to its redevelopment." He continued by saying, "this new manufacturing facility will have the potential to create new jobs for this community which is crucial."
RTB's technology is based on an exclusive, multi-patented form of the human protein keratin, a fundamental building block of human hair, skin, and nails. In multiple third-party clinical studies, this ingredient, known as Alpha Keratin 60ku™, boosts the effectiveness of hair care products to repair hair damage in ways that are unparalleled in the industry today. This technology is slated for use in a breakthrough new premium hair care line to be introduced by the company later this year, with additional products to follow.
The basis for the technology was pioneered by KeraNetics, a Winston-Salem biotech firm focused on keratin-based solutions for use in regenerative medicine. RTB has adapted the technology for use in topical cosmetic products and holds exclusive rights for its use for this purpose.
In setting up its facility, the company has benefitted from a $1.7 million grant awarded to WPDA by Golden LEAF Foundation. WPDA has used $700,000 of the grant to renovate the 70,000 square foot building in which RTB has rented 8,000 square feet of space, and to purchase equipment that WPDA has leased to RTB. The balance of the funding will be available to support the growth of RTB through other equipment leases. WPDA will use the lease payments from RTB for further development of Whitaker Park.
"It has been an extraordinary partnership that has made this day possible," Shaban said. "Specifically, I would like to thank the Whitaker Park Development Authority and the Golden LEAF Foundation for their exceptional work on the renovation and upfit of the building we now call home."
"Whitaker Park was the location of thousands of good-paying jobs for years," said Dan Gerlach, President of the Golden LEAF Foundation. "Our grant will help the next generation of companies such as RTB and others to come to create and invest in 21st century jobs."
RTB currently employs seven people in the Whitaker Park facility, where activities include ingredient manufacturing, quality control, product evaluation, process development, and materials purchasing. "As our operation continues to grow, we look forward to bringing many more science and technology jobs to this beautiful facility," Shaban said.
About Reason To Believe (RTB)
RTB manufactures and markets innovative, technology-based solutions for the health of hair, skin, and nails that provide visible, transformational results. Its proprietary, patented hero ingredient, Alpha Keratin 60ku™, is keratin in its purest, native form – whole, unbroken and fully functional. It is the only fully functional keratin protein on the market today. Originally developed by biotech company KeraNetics for the field of therapeutic and regenerative medicine, this breakthrough technology has $30 million of R&D behind it. RTB Co. is based in Raleigh, NC, with a technology manufacturing facility in Winston-Salem, NC.
About Chrysallis, LLC
Chrysallis is a strategic management group with proven expertise in the acquisition and development of brands and taking small businesses global. Through a unique strategic view, multi-category experience, and customized plans dedicated to rapid and sustainable results, Chrysallis combines the sensibilities of growth investing with operational capabilities that allow businesses to evolve, expand and soar.
About Whitaker Park Development Authority
WPDA, Inc. (WPDA) is a 501 (c)(3) not-for-profit corporation, created in 2011 by Winston-Salem Business Inc., the Winston-Salem Alliance and Wake Forest University, for economic development and facility redevelopment purposes. WPDA is the recipient of the donation by RJ Reynolds of part of the Whitaker Park manufacturing complex in Winston-Salem, NC. This donation of over 1.7 million square feet of space and approximately 125 acres represents one of the largest corporate donations ever made in North Carolina. The mission of WPDA is to develop a plan to repurpose the donated property to create new jobs for citizens of the community and expand the area tax base.
About Golden LEAF Foundation
In 1999, the North Carolina legislature created the Golden LEAF Foundation to administer one-half of North Carolina's share of the Master Settlement Agreement with cigarette manufacturers in accordance with the court consent decree between North Carolina and the manufacturers. A nonprofit organization devoted to the economic well being of North Carolinians, Golden LEAF endeavors to strengthen the state's economy through diverse grantsmaking. For additional information, visit goldenleaf.org.
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SOURCE Reason To Believe Company (RTB)