12:53 PM EDT, 08/04/2025 (MT Newswires) -- Redwire ( RDW ) said Monday it has established a SpaceMD unit focused on growing seed crystals in space to support the development of new or improved pharmaceuticals on Earth.

SpaceMD will use Redwire's ( RDW ) Pharmaceutical In-Space Laboratory technology, which has flown 28 systems and successfully crystallized 17 compounds, including insulin, aboard the International Space Station, the company said.

The seed crystals grown in microgravity will be sold or licensed to pharmaceutical companies to reformulate existing drugs or create new treatments, it added.

SpaceMD signed its first licensing deal with ExesaLibero Pharma to enhance small-molecule drug ELP-004, which targets bone erosion caused by diseases like rheumatoid arthritis, multiple myeloma, diabetes, periodontal disease, and tuberculosis, according to the company.

SpaceMD said it will earn royalties from any commercial drugs developed through this partnership.

Shares of the company were up about 5.3% in recent trading.

Price: 14.61, Change: +0.74, Percent Change: +5.34