IRVINE, Calif., Oct. 25, 2016 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or "the Company"), the world's leading cryogenic logistics company dedicated to the life sciences, today announced that it is now supporting over 100 clinical trials, 16 of which are currently in Phase 3, generally, the last phase to be approved by the FDA before commercialization.
Many of the world's leading biopharmaceutical companies utilize Cryoport's reliable, safe and secure cold chain logistics solutions for assurance, to avoid costly delays and/or clinical trial data loss when transporting and/or storing their biologics, such as regenerative medicines and advanced cellular therapies. Cryoport supports a wide range of clients in biopharma including clinical programs for Gradalis, Heat Biologics, ImmunoCellular Therapeutics, Kite Pharma, Perseus PCI, Stemedica, Unum Therapeutics and many others.
Jerrell Shelton, Chief Executive Officer of Cryoport, Inc., stated, "Reaching our 100th clinical trial in the biopharma market is an exciting milestone. Every single day our cryogenic logistics solutions for the life sciences are further validated. Our comprehensive scientific approach to supporting cold chain logistics for our clients has truly put our company in the leading position. Reaching the '100 trials' mark in support of cellular therapies is a threshold point and a testimony to our clients' appreciation of our expertise and experience in providing agile solutions for their cryogenic logistics requirements. The significance in this achievement lies in the embedded revenue growth opportunities these trials represent."
Recent events with the Company include Cryoport having been selected to support new trials or through expanded clinical relationships with Heat Biologics, Kite Pharma and Unum Therapeutics:
Heat Biologics: Cryoport is providing its advanced cryogenic logistics support for Heat Biologics as it advances three clinical trials to develop immunotherapies using its highly specific T cell-stimulating platform technologies. Currently, Cryoport is supporting Heat's Phase 2 trial assessing HS-410 (vesigenurtacel-L) in patients with non-muscle invasive bladder cancer and its Phase 1b trial assessing HS-110 (viagenpumatucel-L) in combination with an anti-PD-1 checkpoint inhibitor to treat patients with non-small cell lung cancer.
Kite Pharma: Cryoport has worked with Kite Pharma since late 2014, providing its advanced cryogenic logistics support for the clinical trials for KTE-C19, a CAR-T cell therapy for the treatment of chemorefractory, aggressive non-Hodgkin's lymphoma.
Unum Therapeutics: Cryoport has secured an agreement with Unum Therapeutics to provide cold chain logistics support for a Phase I clinical trial to assess its antibody-coupled T-cell Receptor (ACTR) in combination with rituximab for the treatment of adult patients with relapsed or refractory CD20-positive B-cell non-Hodgkin lymphoma.
Mr. Shelton stated, "Securing agreements to support the advanced cryogenic logistics needs of clinical trials is a core element of Cryoport's sales and marketing strategy in the biopharma market as these agreements provide embedded opportunities to scale our relationships as our Company's biopharmaceutical clients progress through the clinical trial phases and, if successful, ultimately reach commercialization. Patient enrollment grows with each phase of clinical trials, resulting in increased requirements for Cryoport's services and higher revenue for the Company. For those products that are commercialized, an entirely new, higher level of requirements apply.
"Cryoport currently is supporting 16 trials in Phase III, the last stage before commercialization, and we are in discussions with several of our clients to set up the infrastructure for supporting their commercial programs.
"Our core sales and marketing strategy is heavily focused on securing cold chain solution relationships with biopharmaceutical companies, primarily in the United States and Europe, in support of pre-clinical and clinical trials. As we achieve early adoption of our services in biopharma, the potential for Cryoport to scale with its clients as their respective therapies are approved, is assured. The success of our sales and marketing strategy over the past eighteen months or so is very positive and we are confident that it is solidly advancing our longer-term growth prospects."
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.