Varda Space Industries secures $251 million to produce drugs in microgravity
Varda Space Industries, a startup partnered with United Therapeutics, announced a $251 million Series D financing round.
The funding, led by Lux Capital and Natural Capital, brings total capital raised since 2021 to $598 million and values the company at about $1.6 billion.
Varda plans to use the money to expand its microgravity drug-manufacturing platform, which it says can improve the stability and bioavailability of medicines compared with Earth-based production.
The company has already flown its first mission in 2023, completed six re-entries, and has secured 28 launch slots with SpaceX and other providers for 2027-2029.
This writeup was produced by pharmadog from original reporting by BioSpace.
Original headline: “Varda raises $251M to leverage gravity in space for drug production”
read at BioSpace ↗
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