C# library to work with text

I need a C# wrapper library which I can easily implement into my current project. I need Text editing library written in C#, You can extend Lable or TextBox.... Text should work like in photoshop you can select some characters and apply different font style size, Also a drodown with some effects ( like drop shadow, fade etc available open source ) where we can add different kind of text effects and on change it apply that effect to text also Text should be drag-able in the panel.