Cryoport Expands Agreement with Stemedica to Support a Phase II Clinical Trial to Assess a Stem Cell Therapy for the Treatment of Alzheimer's Disease
IRVINE, Calif., Aug. 11, 2016 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Company"), the world's leading cryogenic logistics company, today announced it has expanded its contract with Stemedica Cell Technologies, Inc. ("Stemedica") to provide cold chain logistics support for a Phase II clinical trial to assess the safety, tolerability and preliminary efficacy of allogeneic stem cell-based therapies in the treatment of Alzheimer's disease.
Cryoport has worked with Stemedica since 2015, safely transporting ischemic-tolerant stem cells to clinical research institutions and accredited hospitals worldwide for use in preclinical and clinical studies. As the world's premier cryogenic logistics provider, Cryoport's extensive experience handling regenerative medicines, including stem cells and other important life sciences materials, ensures Stemedica's shipments are transported safely with fully documented chain of custody and chain of condition data. Under the terms of the agreement, Stemedica Cell Technologies uses the Cryoportal™ logistics management platform, proprietary Cryoport Express® dry vapor shippers and condition monitoring systems to ship human stem cells from collection sites in the U.S. to research centers in Georgia and California. Cryoport's end-to-end solutions provide Stemedica with the most advanced cryogenic logistics solutions anywhere, including constant monitoring during the entire logistics process.
Dr. Nikolai Tankovich, President and Chief Medical Officer of Stemedica, commented, "We recently demonstrated, through preclinical and overseas clinical trial data that intravenous administration of stem cells resulted in a delay of accumulation of plaque formation and also in the reduction of plaque in an animal Alzheimer's model. This Phase II trial will enroll approximately 40 subjects diagnosed with mild to moderate dementia due to Alzheimer's disease and will bring us closer to developing a stem-cell based treatment for humans. Using Cryoport's validated cold chain solutions to maintain the integrity of our product line and ensure reliability of delivery to patients across the U.S. is essential to the validity of the trial. Having worked with the team at Cryoport previously, we have no doubt that they are the right partners to support this trial."
Jerrell Shelton, Chief Executive Officer of Cryoport, Inc., stated, "Our logistics solutions help mitigate risk and ensure the safe, reliable global distribution of frozen biologic materials whether in pre-clinical, Phase I, Phase II, Phase III clinical trials or commercial. Fostering strong relationships with innovative life sciences companies, such as Stemedica, is important to Cryoport and serves as an example of ongoing opportunities as new trials and product launches take place in the industry. We are proud to have worked with Stemedica since 2015 as a trusted partner distributing its ischemic-tolerant stem cell products to its wide client base within the research community. Stemedica has now evolved to the point where it is conducting a Phase II clinical trial and we are very pleased to scale our agreement with them to support their work fighting Alzheimer's disease."
Cryoport currently supports more than 78 clinical trials worldwide. The Company's clinical trial clients include ImmunoCellular Therapeutics, Kite Pharma, Gradalis and Perseus PCI.
About Stemedica Cell Technologies, Inc.
Stemedica Cell Technologies, Inc. is a global biopharmaceutical company that manufactures best-in-class allogeneic adult stem cells and stem cell factors. The company is a government licensed manufacturer of cGMP, clinical-grade stem cells currently used in US-based clinical trials for acute myocardial infarction, chronic heart failure, cutaneous photoaging, ischemic stroke, traumatic brain injury and Alzheimer's disease. Stemedica's products are also used on a worldwide basis by research institutions and hospitals for pre-clinical and clinical (human) trials. Stemedica is currently developing additional clinical trials for other medical indications using adult, allogeneic stem cells under the auspices of the FDA and other international regulatory institutions. The company is headquartered in San Diego, California and can be found online at www.stemedica.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 commodities, 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, 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.
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