LAKE FOREST, Calif.,
Oct. 14, 2014 /PRNewswire/ --
Cryoport, Inc. (OTC:CYRX) announced today the first phase of
deploying its "Regenerative Medicine Point-of-Care Repository
Solution" for Liventa Bioscience's introduction of Liventa's
AmnioClear® LCT therapy to orthopedic clinics in the US.
More than 70 orthopedic clinics have expressed interest in the
therapy. Of these clinics, approximately 20 have entered into a
registry/ clinical study with Liventa.
Cryoport's Regenerative Medicine Point-of-Care Repository
Solution uses Cryoport Express® Shippers to ship and
then store product in its cryogenic environment at a point-of-care
site for up to 6 days. The Cryoport Express® Shipper
serves as a temporary cryogenic repository enabling the efficient
distribution of temperature sensitive allogeneic cell-based
therapies without the expense, inconvenience, and potential costly
failure of an on-sight, cryopreservation device. Cryoport's client
service professionals monitor each shipment throughout the
predetermined process including the shipper's return to Cryoport
where it is cleaned and tested for quality assurance before being
returned to inventory for the next shipment. The continuous weekly
flow of Cryoport Express® Shippers allows each
orthopedist to have a fresh supply of product while avoiding the
hassles traditionally associated with shipment and safe
storage.
Initial feedback on the effectiveness of Liventa's
AmnioClear® LCT therapy and Cryoport's Regenerative
Medicine Point-of-Care Repository Solution has been positive.
Universally, clinics have expressed that they are pleased with the
ease of use and their ability to utilize Cryoport
Express® Shippers as temporary cryogenic freezers,
eliminating the need for expensive stationary cryogenic
equipment.
The partnership between Liventa and Cryoport represents an
important strategic alliance that provides a full solution for
clinics from order entry through delivery. Cryoport's proprietary,
purpose-built cold chain logistics solutions for advanced biologic
tissue forms combined with Liventa Bioscience's access to all
orthopedic care providers creates a unique channel in this evolving
area of life sciences.
According to one forecast, approximately $230 million of cell based biologic products for
orthopedic uses were shipped in 2013 to hospitals and other clinics
using dry ice and liquid nitrogen. Cryoport's Regenerative Medicine
Point-of-Care Repository Solution provides a cryogenic environment
and eliminates highly inferior and less reliable dry-ice shipping
as well as costly and cumbersome liquid nitrogen.
Liventa Bioscience CEO, Robin
Young, said, "Cryoport's "Regenerative Medicine
Point-of-Care Repository Solution" is an integral and vitally
necessary part of this groundbreaking new study and will continue
to enable its cryogenically preserved knee OA treatment as
additional clinics are added to the registry. Liventa's early
successes are the result of our careful research which led to this
partnership. We concluded that Cryoport's cryogenic logistics
solutions for life sciences are the most advanced solution
available for both our AmnioClear cryopreserved tissue products and
other advanced biologic and transplant products. Cryoport's
solution opens up every corner of the orthopedic industry to
advanced biologic tissue and cell forms. This is a revolutionary
logistics solution which mirrors the changing nature of orthopedic
care delivery patterns."
"With Cryoport's Regenerative Medicine Point-of-Care Repository
Solution, there are no hazardous dry-ice, bulky and costly liquid
nitrogen containers or expensive cryogenic freezers. There is also
no unnecessary capital investment for the clinics. Overall, this
solution significantly simplifies the adoption of therapies
requiring cryopreservation," Young concluded.
Jerrell Shelton, Cryoport's CEO,
said, "We are proud to be a strategic partner providing enabling
technologies to support Liventa Bioscience and its potentially
revolutionary impact on orthopedic therapies. Our partnership is in
its earliest stage of bringing Liventa's AmnioClear products and
other advanced biologic solutions to an estimated 108 million
patients annually that suffer from knee, hip, extremity, spine and
other orthopedic disabilities. As Liventa's AmnioClear®
LCT therapies are adapted, Cryoport will be there to support them
and play an increasing role. Liventa is but one example of
Cryoport's future as an enabling technology in all segments of life
sciences."
"Orthopedic care is currently provided in the offices of family
practitioners, internists, orthopedists' ambulatory surgical
center, pain management clinics, pharmacies, physical medicine
specialists, rheumatologists, sports medicine clinics and, of
course, the chiropractor, which totals over 10,000 potential points
of care. Among established orthopedic programs at large
hospital networks, the fastest growing practice sector is
outpatient orthopedic care. By and large, orthopedists do not have
cryogenic freezers or the infrastructure to handle cell based
tissue forms and Cryoport solves that problem with its innovative
technologies," concluded Mr. Shelton.
About Cryoport, Inc.
Cryoport provides leading edge cryogenic logistics solutions to
the life sciences industry through the combination of purpose-built
proprietary packaging, software technologies and skilled and total
management of the entire logistics process. Cryoport
Express® liquid nitrogen dry vapor shippers are
validated to maintain a constant -150°C temperature for a 10-plus
day dynamic shipment duration, and its Cryoportal™ Logistics
Management Platform assists in managing the entire shipment
process, including initial order input, document preparation,
customs documentation and clearance, courier management, shipment
tracking, issue resolution, and delivery. Cryoport's total turnkey
logistics solutions offer reliability, cost effectiveness, and
convenience, while the use of recyclable and reusable components
provides a "green" and environmentally friendly solution. Among
Cryoport's service options, the client has the option to record and
archive the "chain of condition" and "chain of custody" information
for shipments thereby meeting the exacting requirements for
scientific work and regulatory purposes. For more information visit
www.cryoport.com.
To download Cryoport's investor relations app, which offers
access to SEC documents, press releases, videos, audiocasts and
more, please click to download from your iPhone and iPad
or Android mobile device.
About Liventa Bioscience
Liventa Biosciences, Inc. is a commercial stage biotechnology
company focused on bringing advanced biologics to market. Its
innovative allograft tissue forms come from living donors and are
available through independent distribution in orthopedics, wound
care, general surgery and OB/GYN.
Liventa's CEO, Robin Young, is
considered to be one of the leading stem cell analysts in the
United States. He is the founder and CEO of the annual New
York Stem Cell Summit now in its 8th year.
Liventa is currently offering or is in the process of
developing a number of advanced orthopedic biologics including
human collagen membrane sheets derived from placental tissues,
flowable wound coverings, synovial fluid transplants and innovative
new soft tissue repair implants.
Liventa's advanced biologics for wound care include a range
of placental derived coverings which promise to significantly
improve the cost / efficacy dynamic for chronic wound care
patients. Liventa's strategic partner for wound care
solutions is the leading supplier of wound care products in
the United States, Chicago based Medline Inc.
Forward Looking Statements
Statements in this press release which are not purely
historical, including statements regarding Cryoport, Inc.'s
intentions, hopes, beliefs, expectations, representations,
projections, plans or predictions of the future are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. It is important to note that the company's
actual results could differ materially from those in any such
forward-looking statements. Factors that could cause actual results
to differ materially include, but are not limited to, risks and
uncertainties associated with the effect of changing economic
conditions, trends in the products markets, variations in the
company's cash flow, market acceptance risks, and technical
development risks. The company's business could be affected by a
number of other factors, including the risk factors listed from
time to time in the company's SEC reports including, but not
limited to, the annual report on Form 10-K for the year ended
March 31, 2013. The company cautions
investors not to place undue reliance on the forward-looking
statements contained in this press release. Cryoport, Inc.
disclaims any obligation, and does not undertake to update or
revise any forward-looking statements in this press
release.
Contact:
Cryoport Contacts:
Todd
Fromer / Garth Russell
tfromer@kcsa.com / grussell@kcsa.com
P: 1-212-682-6300
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SOURCE Cryoport, Inc.