Partnership Establishes Cryoport Systems'
First U.K. Logistics Center to Support Future Expansion and Provide
End-to-End Supply Chain Solutions for Advanced Therapy
Manufacturers
NASHVILLE, Tenn. and STEVENAGE, United Kingdom, Oct. 10,
2023 /PRNewswire/ -- Cryoport, Inc. (NASDAQ:
CYRX) ("Cryoport"), a leading global provider of innovative
products and services to the fast-growing cell and gene therapy
industry enabling the future of medicine for a new era of life
sciences, and the Cell and Gene Therapy Catapult ("CGT Catapult"),
an independent innovation and technology organisation specializing
in the advancement of cell and gene therapies, today announced the
organisations have entered into a new strategic partnership to
support the advancement of cell and gene therapies.
Through this collaboration, Cryoport Systems will establish its
first global supply chain logistics centre in the U.K., a Good
Manufacturing Practice (GMP)-compliant facility located within the
bioscience cluster in Stevenage,
U.K., at the CGT Catapult's large-scale cell and gene
therapy Stevenage Manufacturing Innovation Centre. The partnership
will provide CGT Catapult collaborators, and the larger U.K. cell
and gene therapy community, with access to Cryoport's integrated,
end-to-end supply chain capabilities including risk mitigation
services and logistics support. The collaboration between the
partners will commence operations in early 2024.
"The cell and gene therapy industry has become an area of rapid
growth in the U.K. with increasing governmental support, making now
the prime opportunity to partner with CGT Catapult to offer
advanced therapy manufacturers streamlined solutions for their cold
chain logistics needs," said Jerrell
Shelton, CEO of Cryoport. "This partnership provides a
valuable step in the expansion of our global supply chain
infrastructure buildout to help accelerate the process of clinical
development and commercialization of cell and gene therapies in the
U.K. It also expands Cryoport Systems' footprint and advances our
longer-term plans in this region by starting with this initial
foothold."
Matthew Durdy, Chief Executive of
the Cell and Gene Therapy Catapult, added, "Cryoport's expertise in
the logistics and supply chain needs of advanced therapy
manufacturers is an invaluable addition to the life sciences
ecosystem in Stevenage and the
wider U.K. The services Cryoport offers will support the continued
growth of the industry, by strengthening even further the
established global supply chains from the U.K., and we look forward
to the future success of Cryoport in the U.K."
About Cryoport, Inc
Cryoport, Inc. (Nasdaq: CYRX), is
a global provider of innovative products and services to the
fast-growing Cell & Gene Therapy industry - enabling the future
of medicine for a new era of life sciences. With 48 strategic
locations covering the Americas, EMEA (Europe, the Middle
East and Africa) and APAC
(Asia Pacific), Cryoport's global
platform provides mission-critical bio-logistics, biostorage,
bioprocessing, and cryogenic systems to the life sciences markets
worldwide.
For more information, visit www.cryoport.com or follow @cryoport
on X, formerly known as Twitter at www.twitter.com/cryoport for
live updates.
About the Cell and Gene Therapy Catapult
The Cell and
Gene Therapy Catapult is an independent innovation and technology
organisation committed to the advancement of cell and gene
therapies with a vision of a thriving industry delivering life
changing advanced therapies to the world. Its aim is to create
powerful collaborations which overcome challenges to the
advancement of the sector. The Cell and Gene Therapy Catapult works
with Innovate UK.
For more information, please visit https://ct.catapult.org.uk/
or https://www.ukri.org/councils/innovate-uk/.
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, long-term growth
prospects, including expected growth in all of the Company's
markets, plans, strategies, acquisitions, future financial results
and financial condition, such as the Company's outlook and guidance
for full year 2023 revenue and the related assumptions and factors
expected to drive revenue, projected growth trends in the markets
in which the Company operates, the Company's plans and expectations
regarding the launch of new products and services, such as the
expected timing and benefits of such products and services
launches, the Company's plans to further strengthen its business
and continue to position itself for long-term and profitable growth
in the cell and gene therapy industry, and anticipated regulatory
filings or approvals with respect to the products of the Company's
clients. 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,
including as a result of the COVID-19 pandemic and its variants,
supply chain constraints, inflationary pressures, the ongoing war
between Russia and Ukraine and the effects of foreign currency
fluctuations, 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 discussed in the Company's SEC reports,
including in the "Risk Factors" section of its most recently filed
periodic reports on Form 10-K and Form 10-Q, as well as in its
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.