IRVINE, Calif., Feb. 16, 2016 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) (the "Company"), the world's leading cryogenic logistics company, announced today that it will manage the cryogenic shipping of solid tumor samples and vaccine for Perseus PCI's ("Perseus") melanoma and ovarian cancer clinical trials.
Co-founded by Dr. Thomas E. Wagner, Ph.D., Perseus PCI has developed a cancer treatment vaccine to serve as an alternative to chemotherapy and other radiation therapies. Perseus PCI's personalized immunotherapy incorporates a patient's cells and tissue matter which work to activate the immune system against a tumor. The therapy's safety and efficacy have been proven in earlier FDA-sanctioned trials in the United States.
Cryoport's logistics management platform will monitor the sampled tumors, as well as the immunotherapy, in transit from Perseus PCI's laboratory in South Carolina to various clinical trial sites throughout the United States. Cryoport's life science specific, advanced packaging significantly reduces the risk of specimen loss during transit and ensures the safe delivery of temperature-sensitive biological materials, compared to legacy methods such as dry ice or bulky liquid nitrogen dewars. Cryogenic preservation of the immunotherapy and specimens being tested is an essential component of a successful clinical trial.
"Cryoport provides an indispensable service for the successful movement of our PCI cancer treatment vaccine and biopsies between the lab and our patients. Their logistics solutions are especially important as we move through our Phase II2b clinical trial, as any degradation of either the vaccine or biopsy, if not maintained in a cryogenic state during transit, could have an impact on the results of the trial. As such, utilizing Cryoport's solutions gives us a significant layer of added confidence as we advance our clinical research," stated Buddy Long, President of Perseus PCI.
"Cryoport is proud to support Perseus PCI in its ongoing melanoma and ovarian cancer clinical trials," said Jerrell Shelton, Chief Executive Officer of Cryoport, Inc. "The need for cryogenic logistics solutions is increasingly required by the biotech market, including cellular therapies and vaccines, as the advanced biopharma field of medicine generates exciting new treatments for cancers and other medical conditions. As a result, Cryoport continues to successfully engage new clinical-stage clients, which are expected to contribute to our immediate growth, and improve our long-term revenue potential."
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, 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.
SOURCE Cryoport, Inc.