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Astrotech Corp. Message Board

  • marsavian marsavian Apr 10, 2007 5:07 PM Flag

    SPACEHAB Announces New Company Initiative

    Tuesday April 10, 3:15 pm ET
    Company to Focus on Space Based Manufacturing

    HOUSTON--(BUSINESS WIRE)--SPACEHAB, Incorporated (NASDAQ:SPAB - News), a leading provider of commercial space services, today announced plans to develop a new company division that will focus on manufacturing pharmaceuticals and materials in space for distribution into the commercial marketplace.

    With a 22-year heritage of processing and transporting over a thousand experiments to low Earth orbit, SPACEHAB plans to leverage the company's deep understanding of microgravity science and payload processing into a new focus towards on-orbit manufacturing for both intercompany initiatives and as a service provider for other customers.

    "The International Space Station (ISS) Program is now transitioning from the construction and experimentation phases to its intended utilization phase," said Thomas B. Pickens, III, SPACEHAB President and CEO. "With SPACEHAB's extensive experience and knowledge in processing highly sophisticated space bound payloads, it is a natural 'next step' for the Company to now utilize the ISS for the advancement of many identified experiments into viable and useful manufactured products. The microgravity environment provides a unique, yet generally unexploited, manufacturing platform for the production of various life-altering pharmaceuticals and materials. SPACEHAB's entrepreneurial energy and unique capabilities bring to the equation exactly what is needed to make the leap from science to the manufacturing of valuable products that have the potential to save and improve lives," concluded Pickens.

    To execute this new direction, SPACEHAB is applying resources and tapping into the Company's strategic partnerships with key national and international space agencies and companies as well as the institutional science community. SPACEHAB plans to release more information on the selected life science products to be manufactured in space at the Space Investment Summit in New York, New York on April 16, 2007. The summit, hosted by the Space Commerce Roundtable and the Space Frontier Foundation, provides a forum for leading investors, industry representatives, entrepreneurs, and experts to present and appraise the newest and most promising space commerce investment opportunities.

    How about completing Apex 100 too ? Still, drugs are the latest fad on Nasdaq these days so whatever gets the job done ;-).

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