IRVINE, Calif., Jan. 17, 2017 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or the "Company"), the world's leading cryogenic logistics company supporting the life sciences industry, announced today that it will be providing its advanced cryogenic logistics solutions to support ProMab Biotechnologies' ("ProMab") new chimeric-antigen receptors (CARs), and specifically CAR-redirected T-cells (CAR-T).
ProMab is leveraging its extensive experience in monoclonal antibody development and immunotherapies to generate CAR-T cells for use in research and preclinical studies, as contracted, and as a proprietary clinical tool. With development activities and manufacturing housed both in the United States and China, ProMab will employ Cryoport's cryogenic logistics solutions for the movement of biologic materials throughout China. ProMab has also expressed interest in leveraging Cryoport's expertise for market expansion in Europe, Canada, and Israel.
As ProMab builds-out the new CAR-T cell-engineering segment of its business at its manufacturing facility in in China, Cryoport's depot in Singapore will support the transport of these products across China and around the world.
CAR-T gene therapy is an exceptionally promising field for immune-therapeutic alternatives for the treatment of cancers. In China there are an expanding number of companies and institutions making significant investments in immunotherapy research, including developing CAR-T cells. An example is the recently announced partnership of Kite Pharma and Fosun Pharmaceutical Co Ltd to commercialize Kite's cancer drugs in China. Additionally, Chinese biomedical research has played an integral role in the advancement of immunotherapy engineering.
"Cryoport is well-versed in international best practices for transporting cryogenically preserved material, including experience in managing Chinese regulations. This combination of specialized cryogenic capabilities and knowledge will help accelerate the cold chain logistics essential to our programs," said John Wu, CEO at ProMab Biotechnologies, Inc. "Our CAR-T cell models will be modular in both design and availability, individually tailored per the conditions of the customer contract. We are excited to launch this new undertaking and are confident that Cryoport's cold chain logistics solutions will assist us in fulfilling our clients' needs and help us reach our internal growth objectives."
Jerrell Shelton, Chief Executive Officer of Cryoport, stated, "Cryoport has supported ProMab Biotechnologies' antibody reagent business since 2012 and we are proud to have the opportunity to expand our relationship with ProMab as it extends its product and service offerings to include CAR T-cell therapy engineering. Our proven cryogenic logistics solutions for life sciences companies will address the complex requirements ProMab faces as it transports valuable, temperature-sensitive CAR T-cell materials to and within China. In addition to having the experience necessary for the successful delivery of ProMab's products, Cryoport's operating center in Singapore provides added assurance for ProMab as it builds out its CAR-T manufacturing in mainland China."
About Cryoport, Inc.
Cryoport is the life sciences industry's most trusted global provider of cold chain logistics solutions for temperature-sensitive life sciences commodities, serving the biopharmaceutical market with leading-edge logistics solutions for biologic materials, such as regenerative medicine, including immunotherapies, stem cells and CAR-T cells. Cryoport's solutions are used by points-of-care, CRO's, central laboratories, pharmaceutical companies, manufacturers, university researchers et al; as well as the reproductive medicine market, primarily in IVF and surrogacy; and the animal health market, primarily in the areas of vaccines and reproduction. Cryoport's proprietary Cryoport Express® Shippers, Cryoportal™ Logistics Management Platform, leading-edge SmartPak II™ Condition Monitoring System and geo-sensing technology, paired with unparalleled cold chain logistics expertise and 24/7 client support, make Cryoport the end-to-end cold chain logistics partner that the industry trusts.
Cryoport is dedicated to
- simplifying global cold chain logistics through innovative technology, unmatched monitoring and data capture and support, including consulting;
- delivering the most advanced temperature controlled logistics solutions for the life sciences industry; and
- providing vital information that provides peace of mind throughout the life of each logistics process.
For more information, visit www.cryoport.com. To download Cryoport's investor relations app, which offers access to SEC documents, press releases, videos, audiocasts and more, please click to download from your iPhone and iPad or Android mobile device. Sign up to follow @cryoport on Twitter at www.twitter.com/cryoport.
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, 2016. 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.