Panaceutics, a manufacturer of personalized medical and nutritional products based in North Carolina's Research Triangle Park, will invest $5.8 million to establish a research and development and high-tech manufacturing facility in Pittsylvania County.
The facility in Pittsylvania’s Ringgold East Industrial Park is expected to create 70 jobs.
Virginia successfully competed against North Carolina for the project.
Panaceutics focuses on nutraceuticals and food products through a small batch manufacturing platform technology.
The Launch Place, based in Danville, invested a total of $500,000 to help the startup. Since that time, the company developed a patented automation and proprietary software platform.
