IRVINE, Calif., Oct. 25, 2016 /PRNewswire/ -- Cryoport, Inc.
(NASDAQ: CYRX, CYRXW) ("Cryoport" or "the Company"), the world's
leading cryogenic logistics company dedicated to the life sciences,
today announced that it is now supporting over 100 clinical trials,
16 of which are currently in Phase 3, generally, the last phase to
be approved by the FDA before commercialization.
Many of the world's leading biopharmaceutical companies utilize
Cryoport's reliable, safe and secure cold chain logistics solutions
for assurance, to avoid costly delays and/or clinical trial data
loss when transporting and/or storing their biologics, such as
regenerative medicines and advanced cellular therapies. Cryoport
supports a wide range of clients in biopharma including clinical
programs for Gradalis, Heat Biologics, ImmunoCellular Therapeutics,
Kite Pharma, Perseus PCI, Stemedica, Unum Therapeutics and many
others.
Jerrell Shelton, Chief Executive
Officer of Cryoport, Inc., stated, "Reaching our 100th
clinical trial in the biopharma market is an exciting milestone.
Every single day our cryogenic logistics solutions for the life
sciences are further validated. Our comprehensive scientific
approach to supporting cold chain logistics for our clients has
truly put our company in the leading position. Reaching the '100
trials' mark in support of cellular therapies is a threshold point
and a testimony to our clients' appreciation of our expertise and
experience in providing agile solutions for their cryogenic
logistics requirements. The significance in this achievement lies
in the embedded revenue growth opportunities these trials
represent."
Recent events with the Company include Cryoport having been
selected to support new trials or through expanded clinical
relationships with Heat Biologics, Kite Pharma and Unum
Therapeutics:
Heat Biologics: Cryoport is providing its advanced cryogenic
logistics support for Heat Biologics as it advances three clinical
trials to develop immunotherapies using its highly specific T
cell-stimulating platform technologies. Currently, Cryoport is
supporting Heat's Phase 2 trial assessing HS-410 (vesigenurtacel-L)
in patients with non-muscle invasive bladder cancer and its Phase
1b trial assessing HS-110 (viagenpumatucel-L) in combination with
an anti-PD-1 checkpoint inhibitor to treat patients with non-small
cell lung cancer.
Kite Pharma: Cryoport has worked with Kite Pharma since
late 2014, providing its advanced cryogenic logistics support for
the clinical trials for KTE-C19, a CAR-T cell therapy for the
treatment of chemorefractory, aggressive non-Hodgkin's lymphoma.
Unum Therapeutics: Cryoport has secured an agreement with
Unum Therapeutics to provide cold chain logistics support for a
Phase I clinical trial to assess its antibody-coupled T-cell
Receptor (ACTR) in combination with rituximab for the treatment of
adult patients with relapsed or refractory CD20-positive B-cell
non-Hodgkin lymphoma.
Mr. Shelton stated, "Securing agreements to support the advanced
cryogenic logistics needs of clinical trials is a core element of
Cryoport's sales and marketing strategy in the biopharma market as
these agreements provide embedded opportunities to scale our
relationships as our Company's biopharmaceutical clients progress
through the clinical trial phases and, if successful, ultimately
reach commercialization. Patient enrollment grows with each phase
of clinical trials, resulting in increased requirements for
Cryoport's services and higher revenue for the Company. For those
products that are commercialized, an entirely new, higher level of
requirements apply.
"Cryoport currently is supporting 16 trials in Phase III, the
last stage before commercialization, and we are in discussions with
several of our clients to set up the infrastructure for supporting
their commercial programs.
"Our core sales and marketing strategy is heavily focused on
securing cold chain solution relationships with biopharmaceutical
companies, primarily in the United
States and Europe, in
support of pre-clinical and clinical trials. As we achieve early
adoption of our services in biopharma, the potential for Cryoport
to scale with its clients as their respective therapies are
approved, is assured. The success of our sales and marketing
strategy over the past eighteen months or so is very positive and
we are confident that it is solidly advancing our longer-term
growth prospects."
About Cryoport, Inc.
Cryoport is the life sciences
industry's most trusted global provider of cold chain logistics
solutions for temperature-sensitive life sciences commodities,
serving the biopharmaceutical market with leading-edge logistics
solutions for biologic materials, such as regenerative medicine,
including immunotherapies, stem cells and CAR-T cells. Cryoport's
solutions are used by points-of-care, CRO's, central laboratories,
pharmaceutical companies, manufacturers, university researchers et
al; as well as the reproductive medicine market, primarily in IVF
and surrogacy; and the animal health market, primarily in the areas
of vaccines and reproduction. Cryoport's proprietary Cryoport
Express® Shippers, Cryoportal™ Logistics Management Platform,
leading-edge SmartPak II™ Condition Monitoring System and
geo-sensing technology, paired with unparalleled cold chain
logistics expertise and 24/7 client support, make Cryoport the
end-to-end cold chain logistics partner that the industry
trusts.
Cryoport is dedicated to
- simplifying global cold chain logistics through innovative
technology, unmatched monitoring and data capture and support,
including consulting;
- delivering the most advanced temperature controlled logistics
solutions for the life sciences industry; and
- providing vital information that provides peace of mind
throughout the life of each logistics process
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. Sign up to follow @cryoport on Twitter at
www.twitter.com/cryoport.
Forward Looking Statements
Statements in this news
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, 2016. 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.
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SOURCE Cryoport, Inc.