Cryoport to Support the Equine Animal Husbandry Market Through Agreement with Yancey Farms
LAKE FOREST, Calif., April 23, 2015 /PRNewswire/ -- Cryoport, Inc. (OTCBB: CYRX) ("Company"), the leading provider of advanced cryogenic logistics solutions for the life sciences industry, today announced that the Company has further established its cryogenic logistics solutions within the animal husbandry market by signing a new customer agreement with Yancey Farms to support the shipment of equine semen for artificial insemination of top German Sport horse Stallions.
Animal husbandry is a multi-billion dollar industry that includes the breeding of animals by humans, in which desired genetic qualities and behavior are further developed. The term can refer to the practice of selectively breeding and raising animals to promote desirable traits in animals for utility, sport, pleasure or research.
Yancey Farms is a broker of top quality sport horse semen from the Oldenburg region in Germany and is considered one of the oldest and most respected warm blood breeders in the United States. Since 1975, they have provided breeding and the importation of bloodstock from the finest horses in Germany.
"Animal husbandry is a multi-billion dollar market across the globe and includes the breeding of numerous types of animals, including domesticated and livestock. We believe there is tremendous opportunity for our cryogenic logistics solutions in the animal husbandry market (equine, bovine, porcine, sheep, aquaculture, fowl, and rare animal breeding) given the high value of the material being shipped," commented Jerrell Shelton, Chief Executive Officer of Cryoport. "The exclusive world of horse breeding requires our best-in-breed cryogenic logistics solutions to ensure the reliable transport of potential National Champions, which Yancey Farms has been known to produce.
"Our customer base continues to grow and diversify with our partnership with Yancey Farms. We are expanding rapidly and have seen our growth come from across all segments of the industry. The cryopreservation of equine semen is a global market. The Cryoport solution is being recognized worldwide and this agreement is just another example of a turnkey for international expansion," stated Mr. Shelton.
"We are proud to be able to offer our clients best-in-class breeding and bloodstock alongside Cryoport's premier logistics solutions to ensure dependable transport of our highly valued equine semen from Germany to the United States. The sensitivity that is required to handle Stallion semen, for example, led us to Cryoport. It is of the utmost importance to our clients to maintain the integrity of the frozen semen," commented Judy Yancey, Owner of Yancey Farms.
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. We provide leading edge logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide including points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers, and university researchers. Our packaging is built around our proprietary Cryoport Express® liquid nitrogen dry vapor shippers, which are validated to maintain a constant -150 degrees C temperature for a 10 day dynamic shipment duration. Our information technology centers around our Cryoportal™ Logistics Management Platform, which facilitates management of the entire shipment process. Cryoport is the preferred cryogenic logistics solutions partner to the world's largest shipping companies controlling more than 85% of the world's air shipments. 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, 2013. 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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