Cryoport Expands Global Supply Chain Network with Belgium Acquisition
Acquisition will expand Cryoport's presence in the EMEA region and is expected to be immediately accretive
NASHVILLE, Tenn., May 18, 2021 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), a leading global provider of innovative temperature-controlled supply chain solutions to the life sciences including clinical research, pharmaceutical and cell and gene therapy markets, today announced the expansion of its global supply chain network with the acquisition of F-Airgate, a provider of innovative temperature-controlled supply chain solutions, headquartered in Brussels, Belgium. F-Airgate will join Cryoport's CRYOPDP business unit and is expected to be accretive to earnings in FY 2021.
Located in the heart of the European Union, F-Airgate has over two decades of experience in supply chain logistics, with a broad offering that includes premium transport services such as Next Flight Out solutions and Time Critical Courier Solutions. Acquiring F-Airgate will expand Cryoport's presence in the EMEA region (Europe, Middle East and Africa) and is highly synergistic with CRYOPDP's strong European footprint with the United Kingdom, France, Portugal, Poland, Germany and the Netherlands. Bringing F-Airgate into the CRYOPDP business marks CRYOPDP's 11th site in Europe, and first facility in Belgium. This new facility in central Europe has a highly strategic location for both CRYOPDP and its customers, reinforcing CRYOPDP's global presence and its capacity to anticipate the growing needs of its customers in the life science sector, in areas where temperature-controlled solutions are vital.
Jerrell Shelton, CEO of Cryoport, said, "This acquisition will expand our coverage in Europe and enable us to provide end-to-end solutions to both global and local customers in Belgium, which is a highly strategic area for Pharma/BioPharma activity in Europe. This region is fast becoming a hub for the development of cell and gene therapy, with hundreds of trials underway in the region. This tactical acquisition of F-Airgate will provide strategic impact for CRYOPDP as requests for local, on-the-ground operations in Belgium, a key market for BioPharma and R&D logistics, continues from many of our Biopharmaceutical/Pharma clients, as well as from potential new clients. With F-Airgate now operating as part of our growing CRYOPDP business unit, we are confident this acquisition will provide us with additional capacity in the EMEA region through F-Airgate's on-the-ground headquarters, agent network and numerous partnerships with local logistics providers."
Cryoport supports 86 clinical trials in the EMEA region and has agreements to support the commercial launch of several therapies that have received marketing approval in Europe, including KYMRIAH® by Novartis, YESCARTA® and TECARTUS™ by Gilead's Kite, Orchard Therapeutics' Libmeldy™ and ZYNTEGLO® by bluebird bio.
According to the Alliance for Regenerative Medicine, there are 209 companies developing cell and gene therapies in Europe and 378 clinical trials with sites in Europe.
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX) is redefining temperature-controlled supply chain support for the life sciences industry by continually broadening its platform of solutions and services, serving the Biopharma, Reproductive Medicine, and Animal Health markets. Through its family of companies, Cryoport Systems, MVE Biological Solutions, CRYOPDP and CRYOGENE, Cryoport provides strategic solutions that support the growing needs of these markets.
Cryoport's mission is to support life and health on earth through its advanced technologies, global supply chain network and dedicated scientists, technicians and supporting teams of professionals. Cryoport serves clients in life sciences research, clinical trials, and product commercialization. We support the creation of life, the sustaining of life and life-saving advanced cell and gene therapies in over 100 countries around the world. For more information, visit www.cryoport.com or follow @cryoport on Twitter at www.twitter.com/cryoport for live updates.
Forward-Looking Statements
Statements in this press release which are not purely historical, including statements regarding the Company'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. These forward-looking statements include, but are not limited to, those related to the Company's industry, business, plans, strategy, acquisitions, including CRYOPDP and MVE Biological Solutions, financial results and financial condition. 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 discussed in the Company's Securities and Exchange Commission ("SEC") reports including, but not limited to, the Company's Annual Report on Form 10-K for the three and twelve months ended December 31, 2020 and any subsequent filings with the SEC. The forward-looking statements contained in this press release speak only as of the date hereof and the Company cautions investors not to place undue reliance on these forward-looking statements. Except as required by law, the Company disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
Cryoport Contacts:
Todd Fromer / Elizabeth Barker
KCSA Strategic Communication
[email protected] / [email protected]
P: 1-212-896-1203
SOURCE Cryoport, Inc.
Share this article