We make pharmaceuticals in orbit because the lack of gravity allows you to make new drug formulations that wouldn't otherwise be possible on Earth in Earth's gravity. So we build the manufacturing systems to make those pharmaceuticals and the reentry vehicles to bring them from space to home to the patient. I failed chemistry in high school, and Caroline did very well. But the basic point is that it won't be stable on Earth. It will be stable in microgravity. Exactly. So think of it as part of the manufacturing process, just like temperature as part of the manufacturing process. Even though you change the temperature, the product remains the same. We use gravity to affect the manufacturing process in the same way. So many questions from there. Yes, please. But firstly, like how do you get them back? So we build our own re-entry vehicle. So we are now the third company ever to produce a reentry vehicle to go from space to earth, air space X, Boeing, and now little old Bada 103 people, the

third ever do it. Yeah, Yeah. So we build those vehicles. They come in, hit the atmosphere Mach 25. But it's not. For example, when we watch the reentry of space X, they land in a specific place. You need a broad land mass to be able to put it back in. Exactly. So in the near term, we have a unguided vehicle, which means the area that we need is much larger. But we want to bring those those dispersion areas closer and closer to eventually get to a football field size. Well, this is very exciting and very nice. I think it's probably very difficult what you're trying to do. Could you explain the complexity, the reentry vehicle, getting it even into this this area? I think that you guys are trying to land in an area the size of Maryland or something like that. Oh, a little bit smaller than Maryland. But yeah, the it's it's actually

relatively simple. It's not trivial, though. Reentering the Earth's atmosphere has been done before. We're just doing it in a new way for the specific use case of bringing pharmaceuticals home to patients. So it's a technology we've developed over the last few years. But where in the world are you managing to find the space shuttle to land it? Like, are you doing it here in America? Are that the size that you need to be able to put the reentry? Is it abroad? So our first reentry earlier this year that occurred in Utah. So there's a nice open area there. The next one is occurring in Australia. We're looking at opening up a landing site in New Mexico. So you'll see that reentry is going to become as common as launch. And so we're laying the infrastructure and building the systems for that. Okay, The capsule is over my right shoulder. Okay.

And so let's go to the relationship with Rocket Lab. Rocket Lab is a launch provider, but actually the majority of its revenues come from other services. So explain the work you do with them because they don't actually take you to orbit. That's right. So you heard me say it earlier. There's applications once you get to space, that's really just opening up the tip of the iceberg of what you can do once you get to space. So you can see this whole ecosystem developing and you have an exponential growth right now because easier access to space means more demand for space. And that's the definition of an exponential growth function. So if you think about someone like Varda, who is only possible now because access to space is cheaper and easier, we're demanding more access to space. And so we you can see the whole ecosystem come together to make these pharmaceuticals in orbit. So Space X is our launch provider.

Rocket Labs sells us a bus to do power and comms and things like that. And then VADA is the reentry vehicle that has both pharmaceutical manufacturing equipment inside. So we did a drug called Ritonavir on our first mission, and then we do the reentry of that vehicle. So it's a team sport. We've got 60 seconds. That team sport depends on regulation approval for companies like Space X, and they've just had a knock back is an issue regulation. So what I tell us at the team is anytime you're doing something that's never been done before, like we've never done this before, humans have never done this before. So of course, they're going to need to push regulations along the way. They're not going regulators are not the tip of the iceberg from technology perspective. So as the industry matures, so will regulation. So I wrote an op-ed last week about very specific standards that we can start to

put in the FAA review process to make it cheaper and easier for FAA analysts to check work without reducing safety.

What Does the Pharmaceutical Business Look Like in Space?

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