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Less than a month after the company released the results of its first drug manufacturing experiment, Varda Space announced that it has raised a $90 million series B round, bringing its total investments to date up to $145 million. The company has developed spacecraft that are capable of manufacturing active pharmaceutical ingredients in orbit, then safely delivering it back to Earth.
Why make these ingredients in space? It all has to do with the chemistry of microgravity, which allows finer control over the process of crystallization. The upshot is that in space, it’s easier to make exactly the ingredients you need and they can be tuned to improve both activity and delivery (smaller crystals means you could potentially take a drug that requires an I.V. and deliver it through injection instead, for example.) The company’s next mission is currently slated for the summer.
30 Under 30 Europe 2024: The Founders Fixing Painful Periods, Printing Prosthetics And Pulverizing Pathogens
The scientists, doctors and entrepreneurs of this year’s 30 Under 30 list for Science & Healthcare are working to improve healthcare and our understanding of the world around us. They include companies focused on women’s health, new technologies for prosthetics, artificial intelligence and more.
Read more here.
Pipeline & Deal Updates
Health AI Lab: UMass Chan Medical School was awarded more than half a million dollars from the state of Massachusetts to establish a health AI assurance lab in partnership with MITRE.
AI Enrollment: California’s Obamacare insurance marketplace Covered California will start using Google Cloud AI solutions to automate parts of the verification process. The solution will be live in June, according to a press release.
Cardiovascular: Johnson & Johnson will acquire Shockwave Medical, the manufacturer of a catheter-based treatment for patients with build-up in their arteries, in a deal valued at $13.1 billion.
Orthopedics: Onkos Surgical announced that it has received FDA approval for its antibacterial coated implants.
Lung Cancer: Prothea Technologies, which aims to develop lung cancer diagnostics and treatments, launched with a $12.9 million series A round.
Robotic Surgery: Robotics company Medical Microinstruments received FDA authorization to commercialize its Symani Surgical System, which is geared towards microsurgical procedures.
Genetic Medicine: Nvelop Therapeutics, a biotechnology company working on non-viral solutions to deliver genetic therapies, announced its launch. According to Pitchbook, the company has raised a $100 million seed round.
Here’s Why ALS Drug Relyvrio Is Being Removed From Market—And What That Means For Patients
Drug manufacturer Amylyx Pharmaceuticals announced on Thursday plans to remove Relyvrio from the market after lackluster results from a phase III trial, leaving only two other ALS drugs on the market.
Read more here.
Other Healthcare News
Arizona’s Supreme Court ruled the state can enforce an 1864 law that makes it a felony to perform abortions with almost no exceptions, but the issue will head to voters on the ballot in November. Former President Donald Trump, who this week said abortion laws should be left to states, agreed that the Arizona law went too far.
Popular diabetes and weight loss drugs like Ozempic and Wegovy, known as GLP-1 medications, don’t substantially increase thyroid cancer risk, according to a new study.
A late-stage trial of Pfizer’s RSV vaccine showed promising results in adults under 60 years old.
One Medical has added 15 new locations since being acquired by Amazon has and plans to expand into two new U.S. markets by the end of 2024.
Across Forbes
Les Wexner’s Second Life: How The Epstein-Tarnished Billionaire Is Quietly Reshaping Ohio
Super-Polluting Greenhouse Gases Are For Sale On Facebook Marketplace
This Main Street Billionaire Bought Over A Thousand Small Businesses—And Never Lost A Dime
What Else We are Reading
Did you say 486%? Why one company thinks such a price hike for its drug is justified (STAT)
Congress Likely to Kick the Can on Covid-Era Telehealth Policies (KFF Health News)
Health Secretary Becerra weighs exit from Biden administration for California gubernatorial bid (POLITICO)
