Space-Based Drug Manufacturing Takes Off with Varda's $187M Series C Funding

Varda Space Industries, a pioneer in low Earth orbit drug manufacturing, has secured a substantial $187 million in Series C funding, propelling the company's ambitious plans to revolutionize pharmaceutical production in microgravity environments. This latest investment round, led by Natural Capital and Shrug Capital, brings Varda's total capital raised to an impressive $329 million.

Varda's Microgravity Manufacturing Milestones

Varda has already made significant strides in space-based drug manufacturing, completing three successful launch and return missions. The company currently has a fourth mission in orbit and plans to launch a fifth later this year. Varda's orbital labs claim the distinction of being the first to process materials outside of the International Space Station (ISS), opening new possibilities for drug formulation.

CEO Will Bruey emphasized the importance of this funding, stating, "With this capital, Varda will continue to increase our flight cadence and build out the pharmaceutical lab that will deliver the world's first microgravity-enabled drug formulation."

The Promise of Microgravity in Drug Development

The unique microgravity environment of low Earth orbit offers unprecedented opportunities for pharmaceutical research and development. In these conditions, active pharmaceutical ingredients (APIs) crystallize differently than on Earth, potentially leading to novel drug formations that are impossible to achieve in terrestrial laboratories.

Varda is expanding its capabilities both in space and on the ground. The company recently opened an office in Huntsville, Alabama, home to NASA's Marshall Space Flight Center, and unveiled a new 10,000-square-foot lab in El Segundo, California. This terrestrial facility will focus on developing processes to crystallize biologics, including monoclonal antibodies, complementing the company's orbital manufacturing capabilities.

Industry-Wide Interest in Space-Based Research

Varda's success is part of a broader trend of pharmaceutical companies exploring the potential of space-based research and manufacturing. Industry giants such as Bristol Myers Squibb and Eli Lilly have participated in space missions to advance their drug development efforts.

In 2023, Eli Lilly partnered with Redwire Corporation to test the PIL-BOX, an in-space drug manufacturing platform. Bristol Myers Squibb conducted a follow-up mission to its 2020 project, studying the crystallization of select biotherapeutics in microgravity to enhance biomanufacturing processes.

As the pharmaceutical industry continues to push the boundaries of innovation, space-based manufacturing and research are emerging as powerful tools in the quest for novel and more effective therapies. Varda's recent funding success underscores the growing confidence in the potential of microgravity environments to transform drug development and production.