Cryoport Further Expands its Asia Pacific Operations with New Global Logistics Center in Singapore
NASHVILLE, Tenn., May 19, 2021 /PRNewswire/ — Cryoport, Inc. (NASDAQ: CYRX) (“Cryoport” or the “Company”), a global leader in temperature-controlled supply chain solutions for the life sciences industry, today announced that its wholly owned operating companies, Cryoport Systems and CRYOPDP, have jointly opened a new Global Logistics Center in Singapore.
The Singapore location is another step in Cryoport’s strategy to strengthen its footprint in the Asia Pacific (APAC) region to meet the increasing demand by the life sciences industry for its temperature-controlled supply chain solutions. This follows the launch of Cryoport Systems’ and CRYOPDP’s first jointly operated Global Logistics Center in Osaka, Japan in the fourth quarter of 2020. As with all the Company’s existing Global Logistics Centers, the Singapore facility is outfitted to handle all Cryoport solutions, with capabilities covering the full temperature range from -196° Celsius and every single gradient, up to and including Controlled Room Temperature (CRT).
As of March 31, 2021, Cryoport supported 543 clinical trials in regenerative medicine globally, with 28 of those clinical trials being in the APAC region. An important example of growing demand in Singapore is driven by our partner, Lonza, which has a key clinical and commercial cell therapy facility on the island nation. In addition, a number of therapies supported by Cryoport have recently been approved in the APAC region, some examples are Novartis’ commercial therapy KYMRIAH®, which is approved in Japan, Singapore and Australia and Bristol Myers Squibb’s commercial therapy BREYANZI®, which was approved in Japan. These commercial therapies represent part of the first wave of expected commercial approvals in the APAC region and Cryoport is continuing to build out our position to support the growing number of commercial therapies in this region. This includes leveraging CRYOPDP’s leading position in key APAC countries such as Singapore, Japan, South Korea and Australia, and its many years of experience providing premium and white glove services to thousands of life sciences clients in the region, to provide its clients with seamless and comprehensive solutions.
Jerrell Shelton, CEO of Cryoport, said, “The joint capabilities of Cryoport Systems and CRYOPDP will provide several benefits to our clients, including improved turnaround time for shipments and reduced unnecessary handling by third parties. As with all our existing Global Logistics Centers, shipments at this facility are only handled by trained technicians throughout the entire order-delivery process. The synergies generated by Cryoport Systems and CRYOPDP working together also enable us to leverage the logistics and technical expertise of both business units and to extend our service offerings, as well as ensure improved cost and process efficiencies for our clients.”
“As Cryoport grows in the region, we also continue to expand our reputation in the APAC region, with CRYOPDP recently named Best Clinical Trial Logistics Provider at the 5th Annual Asia-Pacific Bioprocessing Excellence Awards 2021 ceremony, a celebration that was attended by more than 500 representatives from Asia’s leading logistics businesses. Winning this prestigious award is the result of the outstanding work of our APAC Operations team, and their outstanding dedication to supporting the life sciences. We are pleased with our progress in the APAC region as we further entrench and strengthen our global footprint and capabilities for supporting the entire life sciences industry and especially for the fast-growing segment of lifesaving cell and gene therapies.”
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, Animal Health, and Reproductive Medicine 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.
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SOURCE Cryoport, Inc.
