Tone2 has released FilterBank3, a filter plugin which is also a complete VST synthesizer and a flexible multi-effect unit.

From the product page:

The modular design and flexible modulation routing give you nearly unlimited possibilities. With self-oscillating filters, oscillators and feedback it can create complete sequences and textures. FilterBank sounds are impressive and absolutely unique. The built-in step sequencer can create rhythmic sequences with some mouse clicks.

FilterBank3 features

• 58 high-end stereo filters
• semi - modular architecture
• flexible routing
• 2 anti-aliased OSCs/LFOs with BPM Sync and 11 wave shapes
• alias free FM and AM
• 12 over sampled types of distortion
• 20 types of surround delay, reverb
• 237 presets
• can be loaded as synthesizer as well as effect
• vocal filtering, equalizing, phasing, flanging, compression
• feedback
• step sequencer
• Midi learn
• autosync to BPM
• realtime frequency display
• envelope follower
• Tool tips and help functions
• VST 2.4 / AU, stereo, 64 Bit accuracy

FilterBank3 is available for Windows VST (Mac VST/AU coming soon), and costs 59 EUR / $79 USD.

Visit Tone2 for more information and a link to download the Windows demo of FilterBank3.