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Investing.com -- Redwire Corporation (NYSE:RDW) stock rose 5% after the space technology company was awarded a $25 million single award indefinite-delivery/indefinite-quantity (IDIQ) contract by NASA to provide biotechnology facilities and support on-orbit operations aboard the International Space Station (ISS).
The five-year contract positions Redwire to fulfill future task orders for biotechnology facilities, on-orbit operations support, mission integration, and related services for NASA on the ISS. Under this agreement, the company has already received a $2.5 million task order from NASA’s In Space Production Applications (InSPA) program to support additional drug development investigations using Redwire’s PIL-BOX technology.
As the sole recipient of this IDIQ contract, Redwire will provide turnkey services to manage, integrate, and facilitate experiments and support on-orbit operations for NASA-funded research investigations. These services are designed to support the diverse set of life and materials sciences research that NASA processes annually.
"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 established itself as a leader in microgravity research, having flown hundreds of experiments on both the Space Shuttle and the ISS. The company’s technology enables space biotechnology and pharmaceutical development for research partners including Bristol Myers Squibb, Eli Lilly and Company, and Butler University.
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