IRVINE, Calif., June 19, 2017 /PRNewswire/ -- The Cryoport Biotech Activity Index (the "CoBRA IndexSM") quantifies the activity in the development and clinical trials of regenerative therapies in the United States, and acts as a means by which investors, the media and industry participants can evaluate investment in the space. The CoBRA IndexSM was launched in February by Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or the "Company"), the world's leading cold chain logistics solutions provider dedicated to the life sciences industry.
The CoBRA IndexSM increased 30.1% to 220 in the first quarter of 2017. This compares favorably to 4.4% growth of the index in Q4, 2016. The leveling off of the CoBRA IndexSM reported in Q4, 2016 appears to have been temporary as existing clinical trial activity has notably increased, which demonstrates the strength of the current pipline of therapies, as well as increasing confidence in their commercialization prospects. New trial starts also facilitated the overall increase in the index, contributing 9% to the index number for the quarter, up 3% from the prior quarter contribution.
Regenerative therapies encompass an array of technologies and therapeutic approaches, the vast majority being cell and gene therapies, which are showing signs of revolutionizing treatment for a wide variety of diseases, ranging from hemophilia to cancer. Each of these clinical programs follow complex procedures which are initiated with patient recruitment for trials, pre-treatment medical procedures, manufacturing and product released via complex analytical testing and concluding with patient dosing.
The CoBRA IndexSM measures and distills the data from the flow of the processes against clinical trials and provides a unique view of the flow of therapy progression within the regenerative medicine space. Consistent or accelerating activity generates larger values which are aggregated into the index number.
Jerrell Shelton, Chief Executive Officer of Cryoport, commented, "Cryoport's position as the industry leading provider of cryogenic logistics solutions to the Regenerative Therapy industry continued to provide unique and real-time insight into the progress of the regenerative medicine industry at a time when new clinical trials are commencing and therapies are approaching commercialization. The market saw stronger corporate development activity in the first quarter of 2017, driven by several new phase II clinical trials for oncology indications. The total number of regenerative therapy trials now stands at 855, compared with 802 as of Q4 2016.
"The outlook for the remainder of 2017 is extremely bullish as the first two regenerative therapies, developed by Kite Pharma and Novartis, filed their Biologic License Applications (BLA's) with the FDA. Many equity analysts expect both Kite and Novartis to receive FDA approval in 2017 which would be the green-light for commercial sales to commence," concluded Mr. Shelton.
In the first quarter of 2017 approximately $2.5 billion invested in the development of regenerative therapies, which compares favorably with the total of $5.1 billion that was raised in all of 2016. It is estimated that regenerative therapies will generate more than $50 billion in annual revenues by 2021 and $250 billion by 2025. Visit CoBRA-Index.com for more information.
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, CROs, 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.
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 Transition Report on Form 10-K for the nine months ended December 31, 2016 filed with the SEC. 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.