2 Pharmaceutical Companies Locate Headquarters in Charleston’s Flagship2

newworldpharm-logo

The City of Charleston welcomes New World Pharmaceuticals, LLC and its sister company, New World Consumer Products, LLC, to their new downtown headquarters at the Charleston Digital Corridor’s Flagship 2. President and founder Fred Sexton chose Charleston so that both companies could be near educational institutions that can assist in continued research and development of the companies’ technology platforms and product lines. The company specifically focuses on the development of oral and intradermal controlled release technologies.

“We’re excited about our relocation to Charleston,” said Sexton. “We’re looking forward to taking advantage of all that the city and state have to offer. We sought a location with access to recognized academic institutions in a business-friendly state interested in helping companies grow. The Department of Commerce, SCRA, SC Launch, and CRDA have all been exceptionally helpful in the process.”

The move will bring an expected $21 million investment and an estimated 38 new jobs to the city over the next five years. New World will also be participating in SCRA’s SC Launch program that supports the growth of the knowledge economy in South Carolina. The Coordinating Council for Economic Development has already approved Job Development Credits for the project.

New World Consumer Products uses the technology developed by New World Pharmaceuticals to produce scientifically-advanced products and supplements. Through its emerging portfolio of patented products and technologies, the company is bringing the science of human nutrition and carbohydrate metabolism to high performance athletes. Its flagship product, XRCEL TM— a scientifically-advanced sports performance supplement formulated using New World Pharmaceuticals’ patented micro-gel delivery system.

New World Pharmaceuticals prides itself on excellence in product development and operating efficiency. The company’s leadership team has extensive and proven senior management experience in the pharmaceutical and consumer goods industries.

At the their new headquarters, the two companies’ will primarily focus on the collaborative development of its trademarked IDDOC TM and XRCEL TM technologies for pharmaceutical delivery.

SCRA CEO Bill Mahoney welcomes the companies, saying of the move, “We are delighted to welcome New World Pharmaceuticals to Charleston and to SCRA’s SC Launch program. Our state’s coordinated, pro-business environment continues to bring innovative, high-tech companies to the state, fostering our talent base and creating tremendous potential for further growth.”

Seeing companies like New World move into Charleston is further testament of the direction the city’s economy is taking, and Mayor Riley also recognizes the significance of such a move:

“We are pleased to welcome New World Pharmaceuticals and New World Consumer Products to the city of Charleston and to Flagship 2. The decision to locate these two innovative companies in Charleston is great validation that Charleston is an ideal city for high-tech knowledge-based and research businesses. The mix of the high quality of life for our residents and access to fine institutes of higher learning proves to attract innovative businesses.”

 

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