IRVINE, Calif., May 16, 2019 /PRNewswire/ -- CalAmp (Nasdaq:
CAMP), an advanced technology solutions pioneer transforming the
global connected economy, today announced a strategic collaboration
with Cryoport (Nasdaq: CYRX) (Nasdaq: CYRXW), the world's leading
temperature-controlled logistics company dedicated to the life
sciences industry, to develop a next generation condition
monitoring system to further assure the security of global
temperature controlled pharmaceutical shipments.
This research and development collaboration is aimed at
enhancing the protection and preservation of critical life science
shipments, which demonstrates CalAmp's continued momentum in the
supply chain visibility market and Cryoport's commitment to
providing the most advanced best-in-class, data-driven solutions to
its biopharmaceutical client base.
It is estimated that pharmaceutical products that require
temperature controlled storage and transport are worth
approximately $283 billion, and they
are expected to rise 70% between 2015 and 2021. Many drug companies
are now moving into the large-molecule treatments, which require
much more rigorous shipping solutions that meet exacting
requirements. These medications are typically more temperature
sensitive and have a shorter efficacy, resulting in the need for
specialized handling and tracking.
Together with CalAmp, Cryoport is exploring an advanced supply
chain visibility service that will monitor, in real-time,
environmental readings for regenerative medicine product
shipments using Bluetooth® sensor technology.
If successful, the combination of the Cryoport Express® Shippers
and the Cryoportal® Logistics Management Platform, coupled with
CalAmp's new-to-market SC iOn Tag™ Bluetooth sensor technology and
SC iOn Command™ platform, would allow Cryoport to offer another
advanced logistics solution that would pro-actively manage supply
chain visibility across multi-mode global shipping routes.
"We are pleased with the relationship we are developing with
CalAmp and the potential to provide advanced, next generation
wireless, Bluetooth solutions that will track and report crucial
information for life science shipments in ways that were heretofore
not possible," said Jerrell Shelton,
CEO of Cryoport. "We are entrusted with highly sensitive and
valuable commodities, which require advanced technologies to
provide safe and secure conditions at all times. Our Biopharma,
Reproductive Medicine, and Animal Health markets require superior
quality assurance and non-stop monitoring. The information we
provide is vital when bringing biologics, regenerative medicine,
vaccines, tissues and advanced therapies to market. The SaaS
solutions we are working with CalAmp to develop should, if
successful, enable us to add offerings that will significantly
reduce the risks associated with the temperature-controlled
transportation of commodities in our markets."
"We know how important it is to have access to accurate and
sophisticated technology when handling temperature-sensitive
commodities," said Jeff Newman, vice
president of supply chain visibility solutions at CalAmp. "For
supply chain and cold chain suppliers that are entrusted with these
products, having real-time insight not only saves money, it also
has the ability to save lives and advance the development of
groundbreaking new cellular therapies. We are honored to have
started this relationship with Cryoport."
About Cryoport, Inc.
Cryoport is the life sciences
industry's most trusted global provider of temperature-controlled
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. Sign up to follow
@cryoport on Twitter at www.twitter.com/cryoport.
About CalAmp
CalAmp (Nasdaq: CAMP) is a technology
solutions pioneer transforming the global connected economy. We
help reinvent businesses and improve lives around the globe with
technology solutions that streamline complex IoT deployments and
bring intelligence to the edge. Our software applications, scalable
cloud services, and intelligent devices collect and assess
business-critical data from mobile assets, cargo, companies, cities
and people. We call this The New How, powering autonomous
IoT interaction, facilitating efficient decision making, optimizing
resource utilization, and improving road safety. CalAmp is
headquartered in Irvine,
California and has been publicly traded since 1983. For more
information, visit calamp.com, or LinkedIn, Facebook, Twitter,
YouTube or CalAmp Blog.
CalAmp and the CalAmp logo are among the trademarks of CalAmp
and/or its affiliates in the United
States, certain other countries, and/or the EU. Any other
trademarks or trade names mentioned are the property of their
respective owners.
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 Company's 10-K for the year ended
December 31, 2018 filed with the SEC.
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 CalAmp