Lake Forest, CA, December 29, 2014 - Cryoport, Inc. (OTC BB: CYRX) ("the Company"), the leading provider of advanced cryogenic logistics solutions for life sciences, announced today that it has entered into an agreement with Triangle Research Labs, LLC (“TRL”). Under the agreement, Cryoport becomes the exclusive cryogenic logistics provider for TRL, providing it with the ability to support its overall demand growth and meet its ever-increasing demand for same day cryogenic shipping.
TRL, located inResearch Triangle Park,NC, specializes in hepatocyte production for use in research focused on drug metabolism, drug-on-drug interactions, drug transporters, and hepatotoxicity. The critical nature of the research that the company supports requires a fully validated cryogenic distribution solution to ensure that the integrity of the cell production is maintained throughout the delivery process. To provide this solution, Cryoport has installed its secure staging model that allows TRL to meet its same day cryogenic shipping demands without compromise.
TRL is one of the fastest growing biotechnology companies in theUnited States. TRL produces high quality hepatocytes for use in pre-clinical in vitro ADMETox applications. It provides both human and animal, fresh and cryopreserved hepatocytes, and their relevant media. With decades of experience in the hepatic sciences, TRL is a leader in quality, service, and value in the industry.
With the integration of Cryoport’s cryogenic logistics solutions supporting the life sciences, TRL further strengthens the relationship it has with its customers while also fortifying its value proposition. From an economic standpoint, TRL will be able to control its overall cost of operations through Cryoport’s fully-integrated system. Cryoport’s validated dry-vapor shippers with temperature monitoring system and logistics management software will replace TRL’s existing internal dewar fleet. From a distribution standpoint, TRL will be able to accelerate its growth domestically as well as internationally as a direct result of the support that Cryoport provides.
Matt Sherman, Executive Director of TRL, stated, “The implementation of Cryoport’s staging model for its advanced cryogenic logistics solution will provide the critical support that we need as our business continues to grow. Our cryogenic shipping demands require a validated distribution system that Cryoport provides through their packaging and operating platform. We look forward to advancing the value, quality, and service that we provide to our customers.”
Jerrell Shelton, Cryoport’s CEO, said, “We are excited to have TRL on board and using our leading edge cryogenic logistics system. We think our validated solutions will provide great value to TRL as its production of high quality hepatocytes grows to meet customer demand. We are very pleased to be a trusted provider to TRL.”
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 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.
Triange Research Labs