CRYOPDP's Acquisition of Bluebird Express Adds
Further Domestic and International Transportation Services
Strengthening CRYOPDP's U.S. Logistics Operations
NASHVILLE, Tenn., Nov. 16,
2023 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX)
("Cryoport" or the "Company"), 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, today announced the expansion of its global supply
chain network with the acquisition of Bluebird Express, LLC
("Bluebird Express"), a provider of time-sensitive domestic and
international transportation services. Bluebird Express will join
Cryoport's CRYOPDP business unit.
Bluebird Express, headquartered in Valley Stream, New York, has more than 20
years of experience in logistics solutions, specializing in
domestic and international air and ground transportation. With key
operations centers in Los Angeles
(LAX) & New York (JFK),
Bluebird Express is a fully accredited cargo agent certified by the
International Air Transport Association (IATA) and an indirect air
carrier (IAC) authorized and regulated by the Transportation
Security Administration (TSA). Cryoport has had a strong working
relationship with Bluebird Express since 2016.
"CRYOPDP has extensive experience in supporting the life
sciences industry, including the rapidly growing market for cell
and gene therapies. The United
States has been leading the way in cell and gene therapy
clinical trials since 2022, with over 400 companies actively
developing cell and gene therapy products for various applications.
The addition of Bluebird Express, which already has an extensive
working relationship with Cryoport, and its team of seasoned
veterans will merge into CRYOPDP's global network and will expand
our U.S. presence and enhance our capabilities in this critical
life sciences market and further enable us as we continue to
deliver unparalleled service and value to our clients," said
Cedric Picaud, CEO, CRYOPDP.
Jerrell Shelton, CEO of Cryoport,
commented, "Bluebird Express' competencies combined with CRYOPDP's
existing capabilities will allow us to offer an even greater array
of end-to-end logistics solutions to both our U.S. and global life
sciences clients. Additionally, Bluebird Express' major operating
centers in New York and
Los Angeles, along with the
expertise of its team will increase our U.S. footprint as well as
further the expansion of our global infrastructure and
competencies. The resulting synergies will create significant
global cross-selling opportunities throughout our
organization."
CRYOPDP operates in 16 countries worldwide, serving customers in
over 135 countries. Recognizing the importance of
temperature-controlled logistics to the life sciences, CRYOPDP
provides premium logistics, cold chain solutions, and tailor-made
services for its clients. CRYOPDP is known for its reliability,
flexibility and wealth of global logistics expertise.
About Cryoport, Inc
Cryoport, Inc. (Nasdaq: CYRX), is
a 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. 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, bio-storage,
bio-processing, 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.
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.