“The company is executing over $60 million in programs with the DoD, and is on the precipice of finalizing a contract with a top 20 biopharma company for its second mission.”
Varda pitches drugs made in orbit, but its first real money is a $60 million Air Force program for hypersonic testing. The capsule ships before the factory works, so it sells reentry to the military first. The business case leans on launch costs falling to $200 per kilogram from roughly $5,000. The glowing profile comes from Not Boring Capital, which owns a piece of Varda.