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RKLB -8.21% RDW -13.93%
Drug discovery in space might be the future of therapeutics. Which is exactly why Varda Space is raising a new mega round of funding.
What’s happening:
- Drug discovery company Varda Space has raised $187M USD in a new Series C financing round
- The new funding round was led by Natural Capital and Shrug Capital
Why it matters:
- Varda Space is one of the most advanced companies in the entire world focused on leveraging microgravity to develop new types of drugs and therapeutics
Going deeper:
- Varda Space has landed some of the most legendary venture capital investors in Silicon Valley as backers, including Peter Thiel’s Founders Fund, Lux Capital, Khosla Ventures and Caffeinated Capital
- Rocket Lab (NASDAQ: RKLB) previously made waves when they successfully provided Varda Space with their Pioneer spacecraft which was used to crystallize HIV drug Ritonavir while in orbit
The intrigue:
- Drug development in space has continued to be a emerging trend in the public markets, with Redwire (NYSE: RDW) previously partnering with Bristol-Myers Squibb (NYSE: BMY) to study small molecule compounds at the International Space Station
