New United States Headquarters and Operations Center Doubled in Size to Accommodate Increased Business and Solutions Development
IRVINE, Calif., Dec. 8, 2015 - Cryoport, Inc. (NASDAQ: CYRX) ("Company"), the world's leading cryogenic logistics company, today announced the opening of its new US headquarters in Irvine, CA. The purpose-built facility supports the Company's long-term expansion plans for its logistics operations and client-demanded scalability.
The facility is designed to service large-scale manufacturing and logistics operations in support of the Company's expected growth. It is strategically positioned to be in close proximity to a major international airport and interstate freeways. In total, the facility has 27,600 square feet of space, which is more than double that of the Company's previous location. The additional space will aid in the implementation of processes automating workflow, the enhancement of quality processes, and the rapid scaling of the Company's operations to accommodate increasing client demand.
"Our new and expanded US facility provides for increased capacity and capabilities, which are demonstrative of the widespread acceptance of our solutions and services as the life sciences industry's most advanced cryogenic logistics solutions provider in the world," said Jerrell Shelton, Chief Executive Officer of Cryoport. "As cellular therapies unfold into trials and commercialization, we are seeing greater client demand and a rapid uptake of our advanced logistics solutions. Our new facility is integral to supporting the increasing volume and client activity we are experiencing and for which we are planning."
"It is important to note that a portion of our new and expanded facility is dedicated to the continued and expanded development of additional solutions by our innovation team. We will continue to be agile as we expand our solutions capabilities to new and existing clients," concluded Mr. Shelton.
In addition to the new headquarters and in support of its global reach, Cryoport has international operations centers located in Rotterdam, the Netherlands and Singapore.
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. The Company provides leading edge logistics solutions for biologic materials, such as immunotherapies, stem cells, CAR-T cells and reproductive cells for clients worldwide. Leading global companies, such as FedEx, UPS and DHL have each separately selected Cryoport as the preferred cryogenic logistics provider for time- and temperature-sensitive biological material. Cryoport actively supports points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers and university researchers. For more information, visitwww.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, 2015. 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.