LAKE FOREST, CA – September 16, 2014 — Cryoport, Inc. (OTC BB: CYRX) ("the Company"), the world’s leading provider of advanced cryogenic logistics solutions for the life-sciences industry, announced today that it has engaged Broekman Group, a global logistics company headquartered in Rotterdam, the Netherlands, to provide support to their rapidly expanding European client base. According to the terms of the agreement, Broekman’s European operations will support Cryoport’s leading-edge cryogenic logistics solutions throughout Europe.
Broekman is a CTPAT/AEO-certified, value-added logistics provider with secure and full-service warehousing facilities. Cryoport’s life science clients based in Europe or clients shipping into Europe will benefit from this relationship which, when combined with Cryoport’s proprietary solutions and competencies, includes equivalent full service recycling and quality assurance of Cryoport solutions in the United States.
Broekman’s professional logistics team will assist Cryoport with tracking, testing, cleaning, maintenance and quality assurance for its Cryoport Express® shippers upon departure and arrival. The scheduling process for all EU pick-ups and arrivals will use Cryoport’s advanced operating platform, the CryoportalTM. This arrangement enables Cryoport’s clients to capitalize on Broekman’s strategic location in the Netherlands and its extensive resources to handle and operate Cryoport’s solutions in an efficient and timely manner.
Jerrell Shelton, Chief Executive Officer of Cryoport, stated, “We are pleased to begin working with Broekman as our new trusted operations and logistics partner in the European region. With its broad international reach and extensive expertise in logistics, we are confident that Broekman will help us provide our life-science clients with the utmost quality in delivering our solutions. Given our strong client relationships, we anticipate a mutually beneficial partnership as we introduce our solutions to Broekman’s current life-science customers. Additionally, Broekman will have the ability to access new markets and address demands from life science companies who are seeking a cutting-edge, cryogenic logistics solution.”
Jacques Kleinkramer, Managing Director, Broekman Logistics Division, stated, "Broekman Logistics believes in the value of Cryoport’s advanced frozen logistics solutions, and we are dedicated to supporting its continued growth both in Europe and beyond. In our newly created Cryoport Service Center in Rotterdam, a number of our core disciplines come together. Both companies operate under an umbrella of stringent procedures and attention to detail, which is non-negotiable when it comes to temperature-sensitive materials. We are excited to have the opportunity to work with Cryoport as it offers us the ability to gain a foothold in the cold-chain logistics market segment for the life-sciences industry.”
About Broekman Group
Broekman Group is a world-leading provider of full-service, complex, tailor-made logistics solutions. Established in 1960 in Rotterdam, where it is still headquartered, Broekman has continued to expand and develop, building on the reliability, flexibility and broad logistics expertise for which it is now well known. It has built up an excellent reputation in forwarding and shipping, warehousing and distribution, and break bulk.
Broekman Group employs more than 800 staff in the Netherlands, Belgium, the Czech Republic, Poland, India, Singapore and China. Its excellent contacts and local market knowledge enable it to deliver outstanding and consistently reliable service to its customers. For more information, please visit www.broekmanlogistics.com.
About Cryoport, Inc.
Cryoport provides leading edge cryogenic logistics solutions to the life sciences industry through the combination of purpose-built proprietary packaging, advanced information technology and highly skilled logistics expertise which manages the entire cold chain logistics process. Cryoport Express® liquid nitrogen dry vapor shippers are validated to maintain a constant -150°C temperature for a 10-plus day dynamic shipment duration, and its Cryoportal™ Logistics Management Platform assists in managing the entire logistics process, including initial order input, document preparation, customs clearance, courier management, shipment tracking, issue resolution, and delivery. Cryoport’s total turnkey logistics solutions offer reliability, cost-effectiveness, and convenience, while the use of recyclable and reusable components provides a “green” and environmentally friendly solution. Cryoport service options include recording the “chain of condition” and “chain of custody” for all shipments thereby meeting the exacting requirements for scientific work and for regulatory purposes. For more information visit www.cryoport.com.
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Statements in this press 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, 2014. 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.