Redwire launches new pharmaceutical venture company, announces licensing pact

Redwire (RDW) announced that it has formed a new entity, SpaceMD, which will focus on growing seed crystals in orbit that will be used on Earth to create new and reformulated pharmaceuticals. As part of this launch, SpaceMD announced a licensing agreement with ExesaLibero Pharma, a 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 small-molecule drug ELP-004 and other relevant compounds via the PIL-BOX system. “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 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… The results of these microgravity investigations will inform ExesaLibero Pharma’s Investigative New Drug application to the Food and Drug Agency. 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,” the company stated.