Varda Raises $187 Million to Manufacture Drugs in Space (1)

Varda Space Industries Inc., a startup working on pharmaceutical manufacturing in space, has raised $187 million in a new funding round that will help it launch more spacecraft into orbit.

Varda is solving an unusual problem: gravity, and its effects on drugmaking. The startup builds small spacecraft that process pharmaceutical materials in orbit and then brings them back down to Earth. The lack of gravity allows for new drug combinations that would not be possible to manufacture on Earth.

Natural Capital and Shrug VC led the Series C funding round, the company said. Previous investors including Founders Fund, ...