Lake Forest, CA, August 18, 2015 - Cryoport, Inc. (NASDAQ: CYRX) (“Cryoport” or the “Company”), the leading provider of advanced cryogenic logistics solutions for the life sciences industry, today announced that its validated cryogenic logistics solution is supporting the worldwide distribution of Stemedica’s ischemic-tolerant stem cell product lines.
Stemedica Cell Technologies, Inc. (“Stemedica”) develops and manufactures best-in-class ischemic-tolerant stem cell products and biological products. Stemedica’s line of stem cell products support preclinical and clinical studies conducted by clinical research institutions and accredited hospitals. Its mesenchymal stem cells (“MSCs”), derived from adult bone marrow, and allogeneic neural stem cells (“NSCs”), taken from donated brain tissue, have received multiple Investigational New Drug (“IND”) designations and are FDA-approved for clinical trials involving the treatment of stroke, chronic heart failure, cutaneous photoaging and Alzheimer’s disease.
Cryoport’s global logistics network will provide comprehensive cryogenic logistics support for Stemedica in the distribution of their stem cell products. The Company’s validated cold chain solutions will maintain the integrity of Stemedica’s line of products and ensure reliability of delivery to Stemedica’s wide client base within the research community on a worldwide basis.
Dr. Roger J. Howe, Executive Chairman of Stemedica, commented, “Cryoport plays a critical role in providing the appropriate logistics channels for our cell therapy products. We equip the research and medical community with our cutting-edge technology to help them further their preclinical as well as clinical development activities. As such, we rely on Cryoport’s validated cryogenic logistics solutions to provide our clients uncompromised access to our allogeneic stem cell products. We believe our technology will help change and advance medicine and improve quality of life globally. The unique and important opportunities for Stemedica are being enhanced significantly by Cryoport’s cryogenic logistics solutions.”
Jerrell Shelton, Chief Executive Officer of Cryoport, stated, “We are honored to support Stemedica in their efforts to further clinical research developments that could improve the lives of so many globally. Working with Stemedica to help advance their product portfolio will provide regenerative therapy companies access to critical manufacturing capacity and progressive cell line products. As a provider to the life sciences industry, Cryoport’s solutions are an essential element to the advancements in the industry.”
About Stemedica Cell Technologies, Inc.
Stemedica Cell Technologies, Inc. is a global biopharmaceutical company that manufactures best-in-class allogeneic adult stem cells and stem cell factors. The company is a government licensed manufacturer of cGMP, clinical-grade stem cells currently used in US-based clinical trials for chronic heart failure, cutaneous photoaging, ischemic stroke and Alzheimer’s disease. Stemedica’s products are also used on a worldwide basis by research institutions and hospitals for pre-clinical and clinical (human) trials. Stemedica is currently developing additional clinical trials for other medical indications using adult, allogeneic stems cell under the auspices of the FDA and other international regulatory institutions. The company is headquartered in San Diego, California and can be found online at www.stemedica.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. We provide leading edge logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide with over 40 clinical trials currently being supported by Cryoport, the majority in the regenerative therapy. In addition, Cryoport actively supports the rest of the industry including points-of-care, CRO’s, central laboratories, pharmaceutical companies, contract manufacturers, and university researchers. Our packaging is built around our proprietary Cryoport Express® liquid nitrogen dry vapor shippers, which are validated to maintain a constant -150°C temperature for a 10 day dynamic shipment duration. Our information technology centers around our Cryoportal™ Logistics Management Platform, which facilitates management of the entire shipment process. Cryoport is the preferred cryogenic logistics solutions partner to the world’s largest shipping companies controlling more than 85% of the world’s air shipments. 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.Investor Contacts:
Todd Fromer / Garth Russell
email@example.com / firstname.lastname@example.org
P: 1 212-682-6300