New client is key supplier of hepatocytes and other liver cell types supporting preclinical and clinical research
LAKE FOREST, Calif., Dec. 1, 2015 - Cryoport, Inc. (NASDAQ: CYRX) ("Company"), the world's leading cryogenic logistics company, today announced that Cryoport has been selected by QPS Hepatic Biosciences ("QPS-HB"), a subsidiary of QPS Holdings LLC ("QPS"), as its cryogenic logistics partner supporting QPS's cryopreserved hepatocytes businesses in theUSA and the EU, further augmenting Cryoport's presence in supporting the preclinical and clinical research space.
QPS is a global leader in contract research and life science products supporting drug and chemical discovery, preclinical and clinical development. Established in 1995, QPS delivers best-in-class contract research and testing through their regional laboratories and testing facilities throughout the USA, Europe, India, and Taiwan. QPS Hepatic Bioscience is the world leader in the isolation and characterization of liver cellular models for research with operations in the Research Triangle Park, North Carolina and in Barcelona, Spain.
Mr. Shiloh Barfield, Vice President of Technical Sales, stated, "QPS Hepatic Biosciences was established to provide a better alternative to the declining quality liver cells available globally to the research community. Our partners expect our cryopreserved products to be reliable, reproducible, and of the highest quality. We have had wonderful experience with Cryoport in past company experience and its exceptional services continue. At QPS, we know we can count on Cryoport to ensure our products are delivered with the quality and reliability our clients demand."
Mark Sawicki, PhD, Chief Commercial Officer of Cryoport, said, "Cryoport is pleased to have been selected as the preferred cold chain partner of QPS-HB, which supports many of our existing and target clients' research activities through the supply of hepatocytes and other liver cell types. By working with QPS Hepatic Bioscience we are further demonstrating our dedication and commitment to being the definitive end-to-end cold chain logistics solution."
Cryoport is currently supporting over 50 clinical trials for advanced therapies and regenerative medicines, including 10 in phase III, for biopharmaceutical companies around the world.
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.
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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.