NASHVILLE, Tenn., May 19, 2021 /PRNewswire/ -- Cryoport, Inc.
(NASDAQ: CYRX) ("Cryoport" or the "Company"), a global leader in
temperature-controlled supply chain solutions for the life sciences
industry, today announced that its wholly owned operating
companies, Cryoport Systems and CRYOPDP, have jointly opened a new
Global Logistics Center in Singapore.
The Singapore location is another step in Cryoport's
strategy to strengthen its footprint in the Asia Pacific (APAC) region to meet the
increasing demand by the life sciences industry for its
temperature-controlled supply chain solutions. This follows the
launch of Cryoport Systems' and CRYOPDP's first jointly operated
Global Logistics Center in Osaka,
Japan in the fourth quarter of 2020. As with all the
Company's existing Global Logistics Centers, the Singapore facility is outfitted to handle all
Cryoport solutions, with capabilities covering the full temperature
range from -196° Celsius and every single gradient, up to and
including Controlled Room Temperature (CRT).
As of March 31, 2021, Cryoport
supported 543 clinical trials in regenerative medicine globally,
with 28 of those clinical trials being in the APAC region. An
important example of growing demand in Singapore is driven by our partner, Lonza,
which has a key clinical and commercial cell therapy facility on
the island nation. In addition, a number of therapies supported by
Cryoport have recently been approved in the APAC region, some
examples are Novartis' commercial therapy KYMRIAH®,
which is approved in Japan,
Singapore and Australia and Bristol Myers Squibb's
commercial therapy BREYANZI®, which was approved in
Japan. These commercial therapies
represent part of the first wave of expected commercial approvals
in the APAC region and Cryoport is continuing to build out our
position to support the growing number of commercial therapies in
this region. This includes leveraging CRYOPDP's leading position in
key APAC countries such as Singapore, Japan, South
Korea and Australia, and
its many years of experience providing premium and white glove
services to thousands of life sciences clients in the region, to
provide its clients with seamless and comprehensive
solutions.
Jerrell Shelton, CEO of Cryoport,
said, "The joint capabilities of Cryoport Systems and CRYOPDP will
provide several benefits to our clients, including improved
turnaround time for shipments and reduced unnecessary handling by
third parties. As with all our existing Global Logistics Centers,
shipments at this facility are only handled by trained technicians
throughout the entire order-delivery process. The synergies
generated by Cryoport Systems and CRYOPDP working together also
enable us to leverage the logistics and technical expertise of both
business units and to extend our service offerings, as well as
ensure improved cost and process efficiencies for our clients."
"As Cryoport grows in the region, we also continue to expand our
reputation in the APAC region, with CRYOPDP recently named Best
Clinical Trial Logistics Provider at the 5th Annual Asia-Pacific
Bioprocessing Excellence Awards 2021 ceremony, a celebration that
was attended by more than 500 representatives from Asia's leading logistics businesses. Winning
this prestigious award is the result of the outstanding work of our
APAC Operations team, and their outstanding dedication to
supporting the life sciences. We are pleased with our progress
in the APAC region as we further entrench and strengthen our global
footprint and capabilities for supporting the entire life sciences
industry and especially for the fast-growing segment of lifesaving
cell and gene therapies."
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, Animal Health, and Reproductive
Medicine 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.
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SOURCE Cryoport, Inc.