Cryoport Enters Bio-Storage Market

IRVINE, Calif., June 15, 2016 /PRNewswire/ -- Cryoport, Inc. (CYRX) ("Company"), the world's leading cryogenic logistics company, today announced the launch of its bio-storage offering. The new offering is the result of a clear demand from Cryoport customers to complement its leading cryogenic logistics solutions with advanced storage and fulfillment capabilities. Cryoport Biostorage will support cryogenic storage, fulfillment, and transportation of all valuable and often irreplaceable temperature-sensitive biologic material, including clinical trial samples, vaccines, stem cells, regenerative therapies, bio-markers and immunotherapies.

Through a strategic partnership with Pacific Bio-Material Management, Inc. ("PBMMI"), Cryoport will offer storage solutions that include cGMP compliant biorepositories at controlled temperatures and climatized systems with effective redundancies such as back-up freezers and power. Cryoport Biostorage's service will feature extensive management and monitoring, including controlled access to commodities, periodic temperature and activity reports, as well as 21 CFR, Part 11 compliant monitoring with 24/7/365 alarm response.

Additionally, Cryoport announced today the formal launch of its Laboratory Relocation Service, which further extends its offering beyond cryogenic logistics and bio-storage services to include the safe and secure transport of complete laboratories.  The Laboratory Relocation Service can now manage the safe, secure and proper transportation of materials that are stored in the lab as well as lab equipment and instruments.  Relocation projects can range in size from the relocation of a fully equipped lab to the move of a single freezer.

Cryoport Laboratory Relocation Service is headed by Tamie Joeckel, who recently joined Cryoport's executive team as Sr. Vice President – Client Services. She has over 25 years of pharmaceutical industry logistics experience having worked with companies such as AmerisourceBergen, McKesson, PAREXEL and Dohmen Life Sciences. She has been a key member in commercialization strategies throughout her career. Ms. Joeckel also oversees the Company's Temperature Controlled Logistics Consulting Division and client care.

"The launch of Cryoport's Laboratory Relocation Service is a new revenue generator for our company and formalizes a business line where Cryoport has been thriving. Over the past few months, we have performed laboratory moves for the Smithsonian, Fred Hutchinson Cancer Research Centers' Clinical Research Division and Tufts University. We continue to experience a growing demand for the storage and transport of temperature controlled biologics from the simplest moves consisting of a few samples to moves as complex and comprehensive as storing and moving a researcher's entire life's work containing thousands of samples, including unique cell lines, constructs, biomarkers and proteins," said Ms. Joeckel.

Commenting on Cryoport's entrance into these new markets, Jerrell Shelton, CEO, said, "Our world-class cryogenic logistics solutions have helped establish Cryoport as a market leader and critical provider of enabling technologies to a number of the foremost biopharma companies, research institutions, laboratories and researchers around the globe. Our entry into the bio-storage market in particular is an important step in realizing our vision to deliver fully integrated solutions that further enhances the biopharma industry's ability to safely and efficiently manage their most valuable biological assets. In addition, by utilizing a single source solution, our clients will be able to further benefit from our proven commitment to help monitor their material while in the cold chain. Our ability to provide unmatched, comprehensive logistics solutions, including Smart Pak II monitoring capabilities that communicate real time to our Cryoportal operating platform, is one of the primary drivers of our success, and we look forward to building on this success."

"With our market leading cryogenic logistics solutions as the cornerstone, Cryoport is continuing to add new, strategic, lines of business solutions, including expert consulting, bio-storage and laboratory relocation services. These expanded capabilities are building upon our position as the partner-of-choice when it comes to temperature-controlled solutions and most important, fill a clear void in the global market for a fully-integrated, fully-compliant solution from a single-source provider," concluded Mr. Shelton.

Michael Lebbin, CEO of PBMMI, said, "With our offsite cGMP compliant bio-storage facilities in New York and California, we are in a position to meet Cryoport customers' most critical biomaterial storage and transportation requirements. Having successfully completed thousands of moves for clients such as hospitals, state and federal government agencies, biotechnology and pharmaceutical companies, research institutions and foundations, and clinical lab companies across the U.S. and Canada, we bring this experience to our strategic partnership with Cryoport."

About PBMMI
Founded in 2000 to assist the Life Sciences industry, Pacific Bio-Material Management, Inc. (PBMMI) is based in Southern California and provides frozen biomaterial storage and transportation services. A Division of PBMMI, Pacific BioStorage has repositories in New York, NY, Fresno, CA, Torrance, CA and Los Angeles, CA. Biomaterial, freezer and laboratory transport services are provided by Pacific Scientific Transport, a Division of PBMMI. Laboratory supplies and equipment, and equipment service are provided by Pacific Science, a Division of Air Liquide Healthcare America. For more information, visit www.pbmmi.com.

About Cryoport, Inc.
Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. The Company provides leading edge logistics solutions for biologic materials, such as immunotherapies, stem cells, CAR T-cells and reproductive cells for clients worldwide. Leading global companies, such as FedEx, UPS and DHL have each separately selected Cryoport as the preferred cryogenic logistics provider for time- and temperature-sensitive biological material. Cryoport actively supports points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers and university researchers. For more information, visit www.cryoport.com.

To download Cryoport's investor relations app, which offers access to SEC documents, press releases, videos, audiocasts and more, please click to download from your iPhone and iPad or Android mobile device.

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 annual report on Form 10-K for the year ended March 31, 2015. 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.

SOURCE Cryoport, Inc.

Related Links

http://www.cryoport.com