Lake Forest, CA, November 3, 2014 - Cryoport, Inc. (OTC BB: CYRX) ("the Company"), the leading provider of advanced cryogenic logistics solutions, announced today that it is collaborating with UPS to enhance its temperature-sensitive shipping offerings to the healthcare industry.
UPS’s global network of healthcare customers will now have access to UPS Temperature True® Cryo, using packaging which supplies liquid nitrogen dry vapor dewars with an advanced operating platform. UPS Temperature True® Cryo will keep products frozen at -150°C for 10 days in dynamic shipping conditions.
In conjunction with its new, Cryoport-enabled, leading edge cryogenic packaging, UPS will be deploying the UPS Proactive Response® Secure, as the first risk management, intervention and insurance solution for the supply chain. UPS Proactive Response® Secure is designed to provide unprecedented coverage for critical biological shipments. Temperature True® Cryo delivers real-time tracking and intervention services along with UPS’s proactive monitoring, risk mitigation solutions and global network of control towers, providing enhanced visibility for time-sensitive cryogenic shipments at every stage of the supply chain journey.
Jerrell Shelton, Cryoport’s CEO, said, “We are proud to be working with UPS, one of the largest shipping companies in the world and to supplement its extensive logistics offerings to the healthcare industry by providing customers with our industry-leading, temperature-sensitive solution to preserve products in cryogenic environments . It is our understanding that UPS customers can also mitigate any risk associated with damage during transit with the new, Cryoport enabled UPS Proactive Response® Secure, a solution for the transportation and timely delivery of critical biological materials. We anticipate that UPS’s growing network of more than 220 countries worldwide will benefit from Cryoport’s solutions. Cryoport is fully committed to supporting UPS and enabling its customers to meet the increasing demands for advanced and reliable supply chain solutions.”
About Cryoport, Inc.
Cryoport provides leading edge cryogenic logistics solutions to the life sciences industry through the combination of purpose-built proprietary packaging, software technologies and skilled and total management of the entire 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 shipment process, including initial order input, document preparation, customs documentation and 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. Among Cryoport’s service options, the client has the option to record and archive the “chain of condition” and “chain of custody” information for shipments thereby meeting the exacting requirements for scientific work and 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.