LAKE FOREST, CA – September 8, 2014 — Cryoport, Inc. (OTC BB: CYRX) ("the Company"), the leading provider of advanced cryogenic logistics solutions for the life sciences industry, announced today the appointment of Curt Kole to the new role of VP, Strategic Business Development. Cryoport’s new business development personnel will support the Company’s rapid development and integration of large-scale corporate clients. In addition to securing new business sectors and major accounts for Cryoport, this new function will be responsible for the management of many key partnerships for the Company.
In addition, the Company is accelerating the expansion of its direct sales representation in key areas of the East Coast. This initiative is meant to capitalize on the growing market demand for leading edge cryogenic logistics solutions for the life sciences industry and to target additional major life sciences companies that would benefit from Cryoport’s comprehensive range of solutions.
Jerrell Shelton, Chief Executive Officer of Cryoport, stated, “Cryoport’s sales organization has extensive knowledge in the cold chain logistics market. This combined with our wide network of key relationships in the life science arena will advance our growth and broaden our customer base. This is the ‘age of biology’ and Cryoport plays a very important role, if not a unique role, in the biosciences.”
Mr. Shelton continued, “We are pleased to announce the promotion of Curt Kole to VP of Strategic Business Development. It is an important new role within Cryoport’s overall sales strategy. Curt’s 17 years of experience in the cold chain industry, including more than 3.5 years with Cryoport where he most recently served as Sales Director, will serve our business expansion efforts well. To date, we have also added several Sales Directors experienced in the cold chain logistics industry to our team, in support of our sales growth initiatives. Given their extensive backgrounds, we are expecting near term results.
“Having completed multiple quarters of notable growth, we are pursuing parallel expansion programs to address specific market sectors, including IVF and animal husbandry. As a global company, we will expand our presence in Europe, Latin America, and Asia. Looking forward, we plan to continue to expand our marketing and business development efforts as well as adding sales personnel as our market grows,” concluded Mr. Shelton.
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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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.