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Edison Innovation Fund Helps Tris Pharma Expand
Date:12/6/2007

ancing," Mehta said. The bonds, directly purchased by The Provident Bank were issued for 10 years with a fixed, low-interest rate and interest-only payments due for the first three months. The EDA also provided a $1-million guarantee.

Franzini said the EDA has assisted technology and life sciences companies for over a decade, and the Edison Innovation Fund works to further encourage the location and growth of these companies in New Jersey. The fund was created to assist technology and life sciences companies throughout their discovery, development and commercialization stages and is managed by the EDA in consultation with the New Jersey Commission on Higher Education and the New Jersey Commission on Science and Technology. The fund will leverage $350 million in private capital that will be targeted to emerging companies as well as existing mid-sized and large technology and life sciences businesses.

Tris Pharma, established in 2000, is a privately owned, product-driven specialty pharmaceutical company engaged in the research and development of innovative drug delivery technologies. The company's proprietary technologies enhance solubility and bioavailability, provide controlled release formulations for solid and liquid dosages, and offer orally disintegrating tablets for immediate and controlled release. For more information on the company, visit http://www.trispharma.com.

The EDA is an independent, self-sustaining state financing and development agency that works to promote economic growth, job creation and the revitalization of New Jersey's communities with financing assistance, technical support and entrepreneurial training, and real estate development activities.

For information on the Edison Innovation Fund and to learn more about opportunities for business growth throughout New Jersey, visit the state's business portal at h
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