Varda Space Industries Secures $187M to Advance Microgravity Drug Manufacturing

Varda Space Industries has secured $187 million in a Series C funding round led by venture capital firms Natural Capital and Shrug Capital, bringing its total capital raised to $329 million. The El Segundo, California-based company specializes in manufacturing pharmaceuticals in microgravity environments, aiming to produce drug formulations that are challenging or impossible to create on Earth.

"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," said Varda CEO Will Bruey.

Founded in January 2021 by former SpaceX engineer Will Bruey and Founders Fund associate Delian Asparouhov, Varda focuses on leveraging microgravity for pharmaceutical manufacturing. The company has completed three successful launches since its first mission in 2023, with a fourth currently planned before the end of the year.

The new funding will support increased launch frequency and the development of a pharmaceutical laboratory dedicated to microgravity-enabled drug production. Additionally, Varda has expanded its operations with a new office in Huntsville, Alabama, and a laboratory in El Segundo to further its drug crystallization research and development capabilities.

Varda's manufacturing process leverages the unique conditions of microgravity to produce pharmaceutical formulations that are challenging to create on Earth. In microgravity, materials such as active pharmaceutical ingredients crystallize differently, leading to novel drug formulations with potentially improved efficacy and stability. Notably, during its initial W-1 mission, the company successfully crystallized the anti-HIV drug ritonavir in its original form while in low Earth orbit and returned it to Earth without signs of conversion.

The company's advancements in space-based pharmaceutical manufacturing have significant implications for the healthcare industry and society at large. By utilizing microgravity environments, Varda aims to develop drug formulations with improved efficacy, stability, and bioavailability, potentially leading to more effective treatments for various diseases. Additionally, the success of Varda's missions demonstrates the viability of commercial space manufacturing, paving the way for further innovations in space-based industries and contributing to the growth of the orbital economy.

Varda's recent funding and operational expansions position the company at the forefront of space-based pharmaceutical manufacturing. The success of their missions could pave the way for further innovations in the intersection of space technology and healthcare.