Tredegar Acquires Therics

Tredegar Industries (Richmond, VA) has acquired the assets of Therics Inc. (Princeton, NJ) for $13.4 million. Before the acquisition, Tredegar owned approximately 19% of Therics.

Therics is developing a new microfabrication technology that has potential applications in drug delivery and a variety of other medical markets. The company's primary focus is on commercializing its TheriForm technology, a novel process for manufacturing tablets, capsules, and implantables with drug release profiles that provide therapeutic advantages over currently available products.

Therics employs 43 people and will become part of Tredegar's Technology Group, which already includes the company's Molecumetics (Bellevue, WA) drug discovery subsidiary and its Tredegar Investments (Seattle) venture capital subsidiary.

Tredegar Industries is a manufacturer of plastics and aluminum extrusions. Tredegar also has interests in drug discovery and a variety of other technology-based businesses.

Therics Inc. is a developer of technology for drug delivery and other medical applications.

For more information: John D. Gottwald, President and CEO, Tredegar Industries, 1100 Boulders Pkwy., Richmond, VA 23225. Tel: 804-330-1000. Fax: 804-330-1177. Email: invest@tredegar.com.