Lake Forest, CA, February 10, 2015 - Cryoport, Inc. (OTCBB: CYRX) (“Company”), the leading provider of advanced cryogenic logistics solutions for life sciences serving markets including immunotherapies, stem cells, cell lines, clinical research organizations, vaccine manufacturers, and reproductive medicine, today announced it has initiated support of the growing in-vitro fertilization (“IVF”) market in Nepal.
Cryoport, the market leader in support of the IVF market with its advanced cryogenic logistics solutions in the United States and other parts of the world, continues its global expansion into Nepal. The global marketplace for in-vitro fertilization is rapidly expanding in the Asia Pacific region where Cryoport is well positioned in India, Malaysia, Vietnam and now Nepal to capitalize on the trend. Due to lower cost of treatments, the region is poised for tremendous growth and market expansion.
Jerrell Shelton, CEO of Cryoport, commented, “Developed by the late Dr. Patrick Steptoe, a gynecologist, and the late Robert Edwards, a Nobel prize winning embryologist, IVF has experienced successive development and refinement over the last 30 years. The European Society for Human Reproduction and Embryology estimates that over 5 million babies have been born using the technique, which creates embryos in the laboratory before transferring them into a woman. Industry sources estimate there are approximately 7.5 million women declared infertile each year with 1.2 million seeking treatment and 350,000 babies born via IVF every year.”
“Learning from neighboring India, Nepal has been increasingly providing IVF services to its citizens directly and to foreigners through medical tourism. The number of citable articles around IVF that have originated from Nepal has more than tripled over the past ten years as noted in the International Journal of Fertility and Sterility. All factors indicate that IVF is of growing importance to Nepal. Therefore, we are pleased to announce that we are expanding our global footprint in IVF with Cryoport’s validated cryogenic logistic solutions in Nepal. We look forward to being part of the solution to a growing market,” Mr. Shelton concluded.
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 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.
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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, 2013. 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 firstname.lastname@example.org / email@example.com P: 1 212-682-6300