IRVINE, Calif., Feb. 28, 2017 /PRNewswire/ -- For the first time, there is a way to measure relative activity in the regenerative therapy space on a quarterly basis. The Cryoport Biotech Regenerative Therapy 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 use the Index to help evaluate investment in the space. The CoBRA IndexSM is being launched by Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or the "Company"), the world's leading cryogenic logistics solutions provider dedicated to the life sciences industry.
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, as the industry leading provider of cryogenic logistics solutions to the Regenerative Therapy industry, has a unique view, in fact, a virtual real-time insight into the progress of this industry. We created the CoBRA IndexSM to provide industry participants and those following the industry with valuable activity and trend information at a time when the industry is reaching an inflection point with many therapies approaching commercialization."
The CoBRA IndexSM draws upon data generated from the regenerative medicine industry since Q1, 2015. In the fourth quarter of 2016, the CoBRA IndexSM increased approximately 4% to 169, compared with 162 in Q3, 2016. This compares to 36% growth in the index in Q3, 2016 against Q2, 2016. Some of the slowdown in Q4 could possibly be attributed to uncertainty surrounding the U.S. presidential election and the regulatory environment, which may account for companies diverting investment dollars into advancing later stage trials.
Existing regenerative medicine trials represent 94% of current pharmaceutical research. The outlook remains bullish as the first CAR-T program has filed for FDA approval and five more regenerative therapies have indicated an intent to file for commercial approval in 2017.
As of October, 2016, there has been more than $17 billion invested in the development of regenerative therapies. It is estimated that regenerative therapies will generate more than $50 billion in annual revenues by 2021 and $250 billion by 2025. Visit http://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 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.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cryoport-launches-the-cobra-index-for-a-comprehensive-measure-of-activity-in-the-regenerative-therapy-space-300414591.html
SOURCE Cryoport, Inc.