IRVINE, Calif., Feb. 15, 2018 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX), (NASDAQ: CYRXW) ("Cryoport" or the "Company"), the world's leading temperature controlled logistics company dedicated to the life sciences industry, today announced it has been selected by DiscGenics to provide logistics support to its multicenter, first-in-human study to evaluate the safety and preliminary efficacy of IDCT, its allogeneic injectable cell therapy, in patients with single level, symptomatic lumbar intervertebral disc degeneration.
Cryoport's comprehensive, temperature-controlled logistics support services will include outbound logistics for DiscGenics' Clinical Phase 1/2 trial of IDCT to clinics in both the United States, and eventually Japan.
"Degenerative disc disease can cause immense suffering for patients, yet current treatment options are limited," commented Flagg Flanagan, Chief Executive Officer and Chairman of the Board of Directors for DiscGenics. "We are excited to commence clinical evaluation of IDCT, which utilizes proprietary therapeutic progenitor cells derived from adult human disc tissue to offer a non-surgical, potentially regenerative and cost-effective solution for the treatment of patients with mild to moderate degenerative disc disease. Using Cryoport's premium cold chain logistics solutions not only ensures we maintain superior quality assurance of our clinical trial materials when shipping both domestically and internationally, but also minimizes the risk of costly delays and clinical product loss during shipping as we progress through the trial."
Jerrell Shelton, Chief Executive Officer of Cryoport, commented, "DiscGenics is engaged in conducting clinical trials for their groundbreaking regenerative therapy for patients with chronic low back pain, and we are proud to be selected to ship their biological product and injection kits to clinical sites in the U.S. and Japan. Cryoport's reputation for reliability and safety were critical for DiscGenics when deciding to entrust its valuable cell therapies to a logistics partner. Our agreement is further evidence that Cryoport's chain of condition and chain of custody monitoring systems are the 'gold standard' in the life sciences industry with a wide variety of applications across the cellular therapy market."
About Cryoport, Inc.
Cryoport is the life sciences industry's most trusted global provider of temperature controlled 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.
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, such as the expected use of the proceeds from the Offer, 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.
SOURCE Cryoport, Inc.