As an example of its value, during its Beta phase, the SmartPak II™ Condition Monitoring System benefited a client by having a shipment saved during transit. In this instance, the SmartPak II TM notified our client care team of an orientation issue during a critical shipment from the United States to the Netherlands. Due to the alert sent by the SmartPak II™, Cryoport logistics management was able to intervene and ensure that the materials arrived safely for the scheduled patient procedure. The Smart Pak II TM will be fully available to Cryoport's customers effective August 31st, 2016.
Jerrell Shelton, CEO of Cryoport, said, "Our SmartPak II™ Condition Monitoring System is one of Cryoport's latest technology innovations. It is a 'system' which includes much more than traditional data logging; it is a leap forward from anything that is in the market today. We expect it to have a significant impact on cold-chain logistics for the life sciences industry as it is so comprehensive. The SmartPak II™ provides clients with a consistent, real time data stream of crucial information and unparalleled visibility on the condition and status of their commodities through out the logistics process. Made possible through our advanced, integrated technologies, Cryoport can detect and provide information to circumvent unforeseen circumstances that could and do occur during the logistics process. By offering real time visibility of Cryoport Express™ shippers and the ability to "communicate" with the shippers, Cryoport is redefining effectiveness for quality control and regulatory compliance supporting new immunotherapies and regenerative medicine, in general.
"Our leading cold-chain logistics solutions for the life sciences have become essential tools for the logistics of temperature sensitive commodities. To our knowledge, we are "un-matched" in the science, technology and engineering behind our solutions and services. We are committed to continuous improvement in our capabilities and to supplying solutions that the global life sciences market is demanding," concluded Mr. Shelton.
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.