LinPlug is a developer that's won a lot of praise for its virtual instruments over the years (the Albino synth is a perennial favourite) and it's just announced that it's making its first foray into the world of effects with Relectro.
It's hard to pin down exactly what this is or how it works, but the key thing you need to know is that it's designed to take single drum sounds and loops and transform them into something substantially different.
To this end, it offers a compressor/expander-like section, a cut filter with infinite edge steepness, pitch sections, variable wave repeat, variable waveform replacement and an EQ-like section with two bands.
There's also a modulation section with two LFOs, two modulation step sequencers and a modulation matrix. The output section, meanwhile, gives you high- and low-pass filters, chorus and two wheels for dry/wet blending and morphing.
A demo of Relectro is available from the LinPlug website, where you can also check out a selection of audio examples. It costs $79/€59.