Varda raises another $187 million in private investment capital
Varda’s third capsule, on the ground in Australia.
Click for original image.
The in-space manufacturing startup Varda has now raised another $187 million in private investment capital, bringing the total cash the company has raised to $329 million.
The $187 million fundraise was led by Natural Capital and Shrug Capital, with participation from Founders Fund, Peter Thiel, Khosla Ventures, Caffeinated Capital, Lux Capital, and Also Capital. Since launching their first mission, W-1, in 2023, Varda has completed three successful launch and return missions, with a fourth, W-4, currently in orbit and a fifth expected to launch before the end of the year.
…”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.
Varda has expanded its footprint terrestrially as well, opening an office in Huntsville, Ala. and a new 10,000 square foot laboratory space in El Segundo, which will allow its pharmaceutical scientists to begin working on developing processes to crystallize biologics, such as monoclonal antibodies. As of 2022, the market size for monoclonal antibodies is estimated to be $210.06 billion.
As I have noted previously, a real market for pharmaceuticals produced in weightlessness has existed for decades. It appears Varda is now well placed to be the first to make money doing so, using its returnable capsules.
One more note: These products and this industry could have been developed on ISS, but NASA has banned all profit-making commercial manufacturing projects there from the station’s beginning. You can do research, but you are forbidden to create any products for sale later on Earth. This strange policy is left over from before the station, when Reagan discontinued all commercial missions on the shuttle following the Challenger accident.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit.
The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Varda’s third capsule, on the ground in Australia.
Click for original image.
The in-space manufacturing startup Varda has now raised another $187 million in private investment capital, bringing the total cash the company has raised to $329 million.
The $187 million fundraise was led by Natural Capital and Shrug Capital, with participation from Founders Fund, Peter Thiel, Khosla Ventures, Caffeinated Capital, Lux Capital, and Also Capital. Since launching their first mission, W-1, in 2023, Varda has completed three successful launch and return missions, with a fourth, W-4, currently in orbit and a fifth expected to launch before the end of the year.
…”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.
Varda has expanded its footprint terrestrially as well, opening an office in Huntsville, Ala. and a new 10,000 square foot laboratory space in El Segundo, which will allow its pharmaceutical scientists to begin working on developing processes to crystallize biologics, such as monoclonal antibodies. As of 2022, the market size for monoclonal antibodies is estimated to be $210.06 billion.
As I have noted previously, a real market for pharmaceuticals produced in weightlessness has existed for decades. It appears Varda is now well placed to be the first to make money doing so, using its returnable capsules.
One more note: These products and this industry could have been developed on ISS, but NASA has banned all profit-making commercial manufacturing projects there from the station’s beginning. You can do research, but you are forbidden to create any products for sale later on Earth. This strange policy is left over from before the station, when Reagan discontinued all commercial missions on the shuttle following the Challenger accident.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon. from any other book seller, or direct from my ebook publisher, ebookit. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
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