Redwire Launches New Venture Company, SpaceMD, to Commercialize Pharmaceutical Development in Space; Signs Trailblazing Royalty Agreement with ExesaLibero Pharma
SpaceMD will take advantage of the unique microgravity environment in space through the use of Redwire's innovative and flight-proven Pharmaceutical In-Space Laboratory (PIL-BOX) technology to grow the seed crystals. 28 PIL-BOX systems have already flown in space and have successfully crystalized 17 compounds on the ISS, including insulin and other critical molecules. SpaceMD will sell or license these seed crystals to companies that can use them to create reformulated versions of existing drugs or entirely new therapeutics.
As part of this launch, SpaceMD announced a trailblazing licensing agreement with ExesaLibero Pharma, Inc., an innovative pharmaceutical company developing new small molecule drugs to treat bone disease. Under the terms of the agreement, ExesaLibero Pharma will work with SpaceMD to advance and enhance its groundbreaking small-molecule drug ELP-004 and other relevant compounds via the PIL-BOX system. This drug could hold the key to controlling the insidious bone erosion that numerous debilitating diseases cause, such as rheumatoid arthritis, multiple myeloma, diabetes, periodontal disease, and tuberculosis.
The results of these microgravity investigations will inform ExesaLibero Pharma's Investigative New Drug (IND) application to the Food and Drug Agency (FDA). Following the approval of the IND by the FDA, ExesaLibero Pharma expects to initiate clinical trials that will lead to full approval of the drug for clinical use. Through this first-of-its-kind agreement, SpaceMD will receive royalties from any commercial sales of resulting pharmaceutical products.
'Redwire is excited to announce the formation of SpaceMD. This new entity represents the evolution of our PIL-BOXstrategy, moving from experimentation to full commercialization with significant upstream revenue potential,' said Peter Cannito, Chairman and CEO of Redwire. 'This agreement with ExesaLibero Pharma signals a revolutionary paradigm shift for commercial utilization of microgravity. Redwire and now SpaceMD are translating the benefits of microgravity research into product value for pharmaceutical companies with the goal of transforming the future of therapeutics and creating value for our stakeholders.'
'We have seen firsthand how the microgravity environment can be a game-changer for drug development, and we look forward to expanding our work with SpaceMD through this exciting collaboration,' said John Barnett, Ph.D., President and Chief Scientific Officer at ExesaLibero. 'This collaboration will help us continue to advance our drug development and discovery process and lead to better outcomes for patients and future astronauts.'
Redwire is a global leader in microgravity research and development technologies, having flown hundreds of experiments on both the Space Shuttle and the ISS. Redwire currently has eleven research and manufacturing facilities on the ISS, more than any other company in the world. Redwire's microgravity technology enables space biotechnology and pharmaceutical development, helping customers reach a commercial market and paving the way for microgravity research on future commercial space stations. Previous investigations conducted by Redwire have been with partners such as Bristol Myers Squibb, Eli Lilly and Company, and Butler University. These efforts focused on unlocking insights to improve treatments for cardiovascular disease, obesity, and diabetes.
About Redwire
Redwire Corporation (NYSE:RDW) is an integrated space and defense tech company focused on advanced technologies. We are building the future of aerospace infrastructure, autonomous systems and multi-domain operations leveraging digital engineering and AI automation. Redwire's approximately 1,300 employees located throughout the United States and Europe are committed to delivering innovative space and airborne platforms transforming the future of multi-domain operations. For more information, please visit RDW.com.
SpaceMD is a subsidiary of Redwire Corporation focused on leveraging the microgravity environment of space to create new advances in pharmaceuticals, biotech, and other fields. SpaceMD utilizes innovative, flight-proven Redwire hardware to conduct this potentially life-enhancing work. SpaceMD uses the unique nature of space to benefit life on Earth.
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