NASHVILLE, Tenn., May 18, 2021 /PRNewswire/ -- Cryoport,
Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), a leading
global provider of innovative temperature-controlled supply chain
solutions to the life sciences including clinical research,
pharmaceutical and cell and gene therapy markets, today announced
the expansion of its global supply chain network with the
acquisition of F-Airgate, a provider of innovative
temperature-controlled supply chain solutions, headquartered in
Brussels, Belgium. F-Airgate will
join Cryoport's CRYOPDP business unit and is expected to be
accretive to earnings in FY 2021.
Located in the heart of the European Union, F-Airgate has over
two decades of experience in supply chain logistics, with a broad
offering that includes premium transport services such as Next
Flight Out solutions and Time Critical Courier Solutions. Acquiring
F-Airgate will expand Cryoport's presence in the EMEA region
(Europe, Middle East and Africa) and is highly synergistic with
CRYOPDP's strong European footprint with the United Kingdom, France, Portugal, Poland, Germany and the
Netherlands. Bringing F-Airgate into the CRYOPDP business
marks CRYOPDP's 11th site in Europe, and first facility in Belgium. This new facility in central
Europe has a highly strategic
location for both CRYOPDP and its customers, reinforcing CRYOPDP's
global presence and its capacity to anticipate the growing needs of
its customers in the life science sector, in areas where
temperature-controlled solutions are vital.
Jerrell Shelton, CEO of Cryoport,
said, "This acquisition will expand our coverage in Europe and enable us to provide end-to-end
solutions to both global and local customers in Belgium, which is a highly strategic area for
Pharma/BioPharma activity in Europe. This region is fast
becoming a hub for the development of cell and gene therapy, with
hundreds of trials underway in the region. This tactical
acquisition of F-Airgate will provide strategic impact for CRYOPDP
as requests for local, on-the-ground operations in Belgium, a key market for BioPharma and
R&D logistics, continues from many of our
Biopharmaceutical/Pharma clients, as well as from potential new
clients. With F-Airgate now operating as part of our growing
CRYOPDP business unit, we are confident this acquisition will
provide us with additional capacity in the EMEA region through
F-Airgate's on-the-ground headquarters, agent network and numerous
partnerships with local logistics providers."
Cryoport supports 86 clinical trials in the EMEA region and has
agreements to support the commercial launch of several therapies
that have received marketing approval in Europe, including KYMRIAH® by
Novartis, YESCARTA® and TECARTUS™ by Gilead's Kite,
Orchard Therapeutics' Libmeldy™ and
ZYNTEGLO® by bluebird bio.
According to the Alliance for Regenerative Medicine, there are
209 companies developing cell and gene therapies in Europe and 378 clinical trials with sites in
Europe.
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX) is redefining
temperature-controlled supply chain support for the life sciences
industry by continually broadening its platform of solutions and
services, serving the Biopharma, Reproductive Medicine, and Animal
Health markets. Through its family of companies, Cryoport Systems,
MVE Biological Solutions, CRYOPDP and CRYOGENE, Cryoport provides
strategic solutions that support the growing needs of these
markets.
Cryoport's mission is to support life and health on earth
through its advanced technologies, global supply chain network and
dedicated scientists, technicians and supporting teams of
professionals. Cryoport serves clients in life sciences research,
clinical trials, and product commercialization. We support the
creation of life, the sustaining of life and life-saving advanced
cell and gene therapies in over 100 countries around the world. For
more information, visit www.cryoport.com or follow @cryoport on
Twitter at www.twitter.com/cryoport for live updates.
Forward-Looking Statements
Statements in this press release which are not purely
historical, including statements regarding the Company'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. These forward-looking
statements include, but are not limited to, those related to the
Company's industry, business, plans, strategy, acquisitions,
including CRYOPDP and MVE Biological Solutions, financial results
and financial condition. 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 discussed in
the Company's Securities and Exchange Commission ("SEC") reports
including, but not limited to, the Company's Annual Report on Form
10-K for the three and twelve months ended December 31, 2020 and any subsequent filings with
the SEC. The forward-looking statements contained in this press
release speak only as of the date hereof and the Company cautions
investors not to place undue reliance on these forward-looking
statements. Except as required by law, the Company disclaims any
obligation, and does not undertake to update or revise any
forward-looking statements in this press release.
Cryoport Contacts:
Todd
Fromer / Elizabeth Barker
KCSA Strategic Communication
tfromer@kcsa.com / ebarker@kcsa.com
P: 1-212-896-1203
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SOURCE Cryoport, Inc.