New global logistics center supporting Cryoport's biopharma clients and the next generation of revolutionary regenerative therapies opens in Livingston
IRVINE, Calif., Oct. 23, 2018 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Company"), the world's leading temperature-controlled logistics company dedicated to the life sciences industry, today unveiled its newest Global Logistics Center, based in Livingston, New Jersey with a ribbon-cutting ceremony attended by several of Cryoport's clients, local dignitaries and business partners. Cryoport's newest state-of-the-art Global Logistics Center is located in a strategic life sciences hub and provides an important addition to Cryoport's logistics network, which allows the Company to more effectively support its biopharma clients. Cryoport's expanding logistics network provides Cryoport Express® services and additional biopharma compliance management options, on a global basis, supporting the development and manufacturing of the new emerging and groundbreaking regenerative therapies.
Cryoport is opening this center to meet the needs of the rapidly developing regenerative therapy market as it prepares for substantial increases in the number of clinical trials, as well as the ramping of commercial products it currently supports, by investing in its infrastructure. This new Cryoport Global Logistics Center located in Livingston adds significantly to Cryoport's logistics network, which is built for the purpose of supporting the expected increase in demand for its logistics solutions by its global life sciences client base. Cryoport's entire suite of temperature-controlled solutions will be offered out of the Livingston Global Logistics Center. Novartis, Celgene and bluebird bio are among the clients being supported from this new location.
Mr. Jerrell Shelton, Chief Executive Officer of Cryoport, commented, "Many of our biopharma clients are predicting significant increases in the number of regenerative therapy clinical trials they expect to undertake. This is, in fact, a time when the industry is reaching an inflection point with a number of FDA-approved therapies now approaching the launching stage in the commercial market. Reliable and efficient management of the biopharma supply chain is critical to advancing the plans of these clients, who are developing and bringing to market the next generation of regenerative therapies, which will surely impact the practice of medicine in profound ways. To support this, reliable and efficient management of the biopharma supply chain is critical. At Cryoport, we are constantly focused on improving our competencies and providing best-in-class service to meet these needs.
"Launching our new Global Logistics Center in Livingston enables us to provide even faster service and, in some cases, same-day delivery to support our clients' manufacturing operations, not just in the U.S. but worldwide, effectively, efficiently and safely. Our Global Logistics Centers are designed to be inherently scalable and supportive of life sciences industry needs. We expect commercial regenerative therapies to continue to ramp over time. Livingston, New Jersey is a major biotech hub with robust, large, well-established biopharmaceutical companies along with innovative startups, incubator sites and large biotech-focused research institutions, many of whom are already partnered with Cryoport for their temperature-controlled logistics requirements. This makes it an ideal location."
About Cryoport, Inc.
Cryoport is a trusted global provider of solutions for maintaining temperature-sensitive life sciences commodities during distribution, 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.
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, 2017 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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