IRVINE, Calif., April 4, 2016 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Company"), the world's leading cryogenic logistics company, today announced it is providing cryogenic logistics solutions that support ProteoGenex, Inc.'s ("ProteoGenex") shipping of biological specimens, including PBMCs, BMMCs, frozen tissue, OCT-embedded tissue, blood serum, blood plasma, whole blood, RNA/DNA, and other bio-fluids.
ProteoGenex is a global leader in the procurement and distribution of biological materials for the biomedical research community, which encompasses biotechnology, pharmaceutical, government, and academic research organizations. ProteoGenex will utilize Cryoport's cryogenic logistics solutions for the movement of biologic materials globally from their extensive biorepository to researchers for clinical study and biological research support.
"Cryoport is working with ProteoGenex's biological specimen business to make the transition from cold chain shipping using dry ice to Cryoport's cryogenic logistics solutions, which virtually eliminates the risk of degradation during transport through the use of our dry vapor shippers," said Jerrell Shelton, Chief Executive Officer of Cryoport. "As a result, Cryoport is providing ProteoGenex with a more stable, reliable and cost-effective approach to frozen transportation for its high-value frozen life sciences materials and products."
Marina Prilutskaya, Head of Operations of ProteoGenex, Inc., said, "We have chosen to implement Cryoport's advanced cryogenic logistics solutions because of Cryoport's longstanding cold chain logistics expertise and proven ability to manage the challenges of transporting valuable, temperature-sensitive cryogenically frozen materials. Cryoport's solutions offer a safer, more effective and consistent way to transport our biological specimens that will ultimately prevent degradation or loss of our product. By utilizing Cryoport's reusable shippers we will reduce our use of consumable dry ice shipping materials and many of our clients will save over 50% on shipping and handling costs."
With strategically placed depots in Europe, Asia and North America, Cryoport is able to support cryogenic logistics solutions in more than 90 countries. Cryoport's cold chain logistics solutions monitor temperatures and record the location of packages throughout the entire logistics process. Cryoport is the only cryogenic logistics company in the life sciences industry to provide comprehensive "chain of condition" and "chain of custody" reporting. Cryoport is dedicated to quality and, to its knowledge, is the only company that exercises a rigid quality assurance program, which includes data extraction, as well as exacting standards for individual package qualifications and before each shipment. In all areas, Cryoport strives to maintain the highest quality standards when transporting valuable IVF materials, as well as other important life sciences materials.
For more information on ProteoGenex, visit www.proteogenex.com.
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. Cryoport actively supports points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers and university researchers. 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, 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.
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SOURCE Cryoport, Inc.