Redwire Corporation (NYSE:RDW) shares climbed 5% after the space technology company secured a $25 million single-award indefinite-delivery/indefinite-quantity (IDIQ) contract from NASA. The deal tasks Redwire with providing biotechnology facilities and supporting on-orbit operations aboard the International Space Station (ISS).
The five-year agreement allows Redwire to fulfill future task orders related to biotechnology facilities, mission integration, on-orbit operations support, and associated services for NASA. The company has already received an initial $2.5 million task order from NASA’s In Space Production Applications (InSPA) program to aid additional drug development research using Redwire’s PIL-BOX technology.
As the exclusive recipient of this IDIQ contract, Redwire will deliver end-to-end services to manage, integrate, and facilitate experiments, as well as support on-orbit operations for NASA-funded research projects. These services are designed to advance life and materials sciences research conducted on the ISS.
“Redwire’s biotechnology facilities have been an integral part of NASA’s ISS research strategy, supporting an increased throughput of critical scientific research and expanding on-orbit capabilities to accommodate cutting-edge science in drug development, cancer research, and tissue engineering,” said John Vellinger, President of Redwire In-Space Industries.
Redwire has built a strong reputation in microgravity research, having flown hundreds of experiments on both the Space Shuttle and the ISS. Its technologies enable space-based biotechnology and pharmaceutical development for research partners including Bristol Myers Squibb, Eli Lilly and Company, and Butler University.
Redwire Corporation stock price
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