Techshot Acquired, Gains Resources for Space Research
(photo courtesy of Techshot)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowFloyd County-based Techshot Inc., which specializes in the development of devices and technology used in space research, has been acquired by Redwire Corp. (NYSE: RDW), an aerospace manufacturer and space infrastructure technology company headquartered in Jacksonville, Florida. Terms of the deal were not disclosed.
The systems devised by Techshot help astronauts conduct research on the International Space Station. One such product is a 3D biofabrication facility that allows for the manufacturing of human tissue in microgravity.
“Techshot’s space bioprinting and other proven biotech solutions in microgravity are some of the most consequential innovations in Low Earth Orbit (LEO) with life-saving benefits on and off our home planet,” said Peter Cannito, chairman and chief executive officer of Redwire. “Adding Techshot’s leading position in commercial space biotechnology with Redwire’s leading position in on-orbit material manufacturing adds significant scale and synergy to our commercial space offerings.”
Techshot’s list of customers includes Indianapolis-based Eli Lilly and Co. (NYSE: LLY), AstraZeneca (Nasdaq: AZN), UCLA and MIT.
“As part of Redwire, we now have more of the resources we need to help accelerate the development of our growing portfolio of new space biomedical technologies, while we continue to provide great service to our research and deep space exploration customers,” said Techshot President and Co-founder John Vellinger. “We’re excited to be part of a leading company in the commercialization – and indeed, the industrialization – of low Earth orbit, and beyond.”