Lake Forest, CA, March 18, 2015 - Cryoport, Inc. (OTCBB: CYRX) (“Company”), the leading provider of advanced cryogenic logistics solutions for the life sciences serving markets including immunotherapies, stem cells, cell lines, clinical research organizations, vaccine manufacturers, animal health, and reproductive medicine, today announced that the Company introduced a new tamper-proof lock on its Cryoport Express® Shippers for exclusive use in the global animal husbandry market.
Cryoport internally developed a tamper-proof lock for the Company’s dry vapor shippers that will be used exclusively for animal husbandry. This feature was designed to support international shipping regulations, enabling Cryoport to transport animal husbandry specimens globally. The sealed lock will prevent the removal of the vapor plug from the shipper without recognition in order to preserve the integrity of the shipped specimen.
Animal husbandry is a multi-billion dollar industry that includes the breeding of animals by humans, in which desired genetic qualities and behavior are further developed. This practice of selectively breeding and raising animals is done to promote desirable traits in animals for utility, sport, pleasure or research. The time and cost involved in breeding dictate the need for increased security for these global shipments.
Jerrell Shelton, Chief Executive Officer of Cryoport, commented, “I am extremely pleased with the quick turnaround time our team demonstrated in developing and implementing a tamper proof lock. This enables the company to provide a comprehensive solution for international shipments serving the animal husbandry market. Breeding horses and shipping warm-blooded equine semen, just to give an example, is a very expensive venture for both parties involved and both parties will benefit from a tamper-proof lock guaranteeing the trustworthiness of the specimen. There is a huge opportunity for our best-in-class cryogenic logistics solution to further expand our reach into this growing market as we continue to focus on providing an ever more comprehensive solution to our customers.”
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 Russelltfromer@kcsa.com / email@example.comP: 1 212-682-6300