ASTROGENETIX AND NASA SIGN AGREEMENT TO CONTINUE DEVELOPING MEDICINES IN SPACE TO SAVE LIVES ON EARTH
Astrogenetix Corporation, a subsidiary of Astrotech Corporation (NASDAQ: ASTC), has entered into a Space Act Agreement (SAA) with NASA, (National Aeronautics and Space Administration). This SAA commits to providing the critical resources needed to continue utilizing the International Space Station (ISS) and to further the development of important on-orbit microgravity vaccines and therapeutic drug experiments.
Astrogenetix entered into a similar SAA in 2009 resulting in 12 successful missions on the Space Shuttle that led to the discovery of potential vaccine targets for both salmonella and MRSA. This experience clearly identified that the most important part of the discovery process is the repeated frequency of access to microgravity. The new SAA reflects this important priority and NASA has committed to provide a minimum of 28 missions between 2013 and 2016.
“Astrogenetix has been working with NASA for over three years to put the necessary agreements in place that would pave the way for the continued commercial utilization of the ISS. It is very clear that NASA shares in our commitment to utilize this most unique of all laboratories and continue with the very promising progress that we have already shown to be possible,” explained Astrogenetix Chairman, Thomas B. Pickens, III.
“As of December 2011, NASA has completed the construction of the International Space Station and with signing of this landmark SAA, the ISS is now realizing its vision of becoming a fully operational National Laboratory. The Agency is very committed to the commercial success of companies like Astrogenetix and we look forward to supporting this very important work,” said Mark Urhan, Director ISS,NASA.
About Astrogenetix, Incorporated
A subsidiary of Astrotech Corporation (Nasdaq: ASTC), Astrogenetix is a biotechnology company formed to commercialize biotechnology products processed in the unique environment of microgravity. The Company offers a turn-key platform for pre-flight sample preparation, flight hardware, mission planning and operations, crew training and certification processes needed within the highly regulated and complex environment of manned space flight.
The statements in this document may contain forward-looking statements that are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statement. These factors include, but are not limited to, continued government support and funding for key space programs, product performance and market acceptance of products and services, as well as other risk factors and business considerations described in the company's Securities & Exchange Commission filings including the annual report on Form 10-K. Any forward-looking statements in this document should be evaluated in light of these important risk factors. The Company assumes no obligation to update these forward-looking statements.
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Chief Executive Officer Astrogenetix, Inc.