Varda Space Industries Secures $90 Million for Space-Based Drug Manufacturing Expansion

The funding will accelerate Varda's transition from demonstration missions to regular commercial operations, aiming to revolutionize pharmaceutical production through microgravity.

• Varda Space Industries raises $90 million in Series B funding, led by Caffeinated Capital, to scale up its space-based pharmaceutical manufacturing efforts.
• The startup, founded in 2021, has successfully completed its first mission, demonstrating the potential of microgravity for drug production.
• Proceeds will be used to increase the cadence of missions, with plans to launch capsules each month, serving biopharma and government customers.
• Varda's technology allows for the development of unique pharmaceutical formulations, including a successful reformulation of the HIV drug Ritonavir.
• The company has signed contracts with publicly traded biotech firms and plans to focus exclusively on pharmaceuticals for the next 10-20 years.

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