LAKE FOREST, CA – July 16, 2014 — Cryoport, Inc. (OTC BB: CYRX) ("the Company"), the leading provider of advanced cryogenic logistics solutions, partners with LifeConEx, a part of DHL Global Forwarding, to enhance and supplement DHL’s cold chain logistics offerings including DHL Express’ Medical Express to its life sciences and healthcare customers with Cryoport’s comprehensive cryogenic logistics solutions.
With these new services, DHL is now offering advanced cryogenic logistics solutions as well as the best-in-class solution for shipping temperature-sensitive products and biological materials in a cryogenic state to its life sciences and healthcare customers.
DHL Global Forwarding currently has 45 Certified Life Sciences stations around the world and they have stated that they will end the year with 65 integrated stations. These forwarding stations as well as dedicated life sciences warehouses and clinical trial depots will now be able to rely on Cryoport for cryogenic shipping. Cryoport believes this is an important element of DHL's strategy to increase their business in temperature-controlled shipping. As DHL's research has reported, the worldwide shipping volume in the cold chain tripled from $56 billion in 2004 to $167 billion in 2013. As life sciences products become more complex the need for Cryoport's solutions becomes more strategic.
Integral parts of this new service include the Cryoport Express® Shippers that use a dry vapor liquid nitrogen technology, providing 10 days of holding time at minus 150º C, under dynamic shipping conditions combined with temperature monitoring throughout the shipping process. Cryoport’s solutions offer a superior, more reliable alternative to dry ice, which needs to be re-iced every few days creating conditions for temperature excursions. This is of particular importance for the shipments of fragile biomaterials. In addition, Cryoport solutions are also more economical and less hazardous than liquid nitrogen.
“As the life sciences industry continues to transform and evolve to meet growing demands for reliable frozen shipping solutions, we are thrilled to be combining forces with Cryoport,” stated David Y. Bang, CEO of LifeConEx. “We are especially impressed with Cryoport’s ability to maintain and monitor customers’ highly sensitive biologic materials in a temperature-controlled, cryogenic environment, throughout the entire shipment process. Our uniquely combined solution alleviates the concerns of damaged or lost materials, given the access to its temperature monitoring system, which records the chain of condition throughout each shipment.”
Jerrell Shelton, Chief Executive Officer of Cryoport, stated, "This partnership with DHL is an important step in furthering our reach into the life sciences total addressable market. Our solutions were very well received at 14th annual DHL Life Sciences & Healthcare Global Conference in Shanghai, China, where our solution and its benefits were presented to DHL’s life sciences and healthcare attendees. As a pioneer for logistics solutions and a leader in cold chain solutions for life sciences, DHL stands at the forefront of delivering advanced temperature-controlled solutions to every segment of the ever-growing life sciences community. We are proud to support the DHL strategy in life sciences as they move forward and advance their offerings on a global basis.”
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.
To download Cryoport's investor relations app, which offers access to SEC documents, press releases, videos, audiocasts and more, please visit https://itunes.apple.com/us/app/cryoport-investor-relations/id878258991?ls=1&mt=8 to download on your iPhone and iPad or https://play.google.com/store/apps/details?id=com.theirapp.cryoport for your Android mobile device.
LifeConEx, DHL’s temperature management specialist, enables clients of all sizes to transport temperature-sensitive products globally in the most optimal and efficient way possible. It combines proprietary technologies, such as LifeTrack and in-transit sensors, with expert analysts, advisors and auditors to deliver end-to-end visibility, monitoring and management of cold chain. By maintaining partnerships with leading handlers and having specialists located worldwide covering +165 countries, LifeConEx helps its clients mitigate risk, seek out more efficient channels and meet the most intensive regulatory standards. For more information about LifeConEx, visit www.lifeconex.com.
DHL – The Logistics company for the world
DHL is the global market leader in the logistics industry and “The Logistics company for the world”. DHL commits its expertise in international express, air and ocean freight, road and rail transportation, contract logistics and international mail services to its customers. A global network composed of more than 220 countries and territories and about 285,000 employees worldwide offers customers superior service quality and local knowledge to satisfy their supply chain requirements. DHL accepts its social responsibility by supporting environmental protection, disaster management and education.
DHL is part of Deutsche Post DHL. The Group generated revenue of more than 55 billion euros in 2013.
Forward Looking Statements
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.