Cryoport and CCRM Fertility Enter Into Agreement
Cryoport, Inc. (CYRX) has signed a three-year agreement with the Colorado Center for Reproductive Medicine (CCRM) to enhance fertility treatments through its temperature-controlled supply chain solutions. The partnership aims to support services such as in vitro fertilization (IVF), fertility preservation, and third-party reproduction by managing cryogenic shipments of human eggs and embryos. CCRM operates 11 centers across North America, employing over 560 staff, including 40 physicians and 22 PhDs. Cryoport will also extend its logistics solutions as CCRM scales operations.
- Three-year agreement with CCRM to enhance fertility treatment services.
- Cryoport's logistics will support IVF, fertility preservation, and egg donation.
- CCRM's extensive network (11 centers in North America) offers growth potential.
- None.
NASHVILLE, Tenn., Dec. 8, 2020 /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 a three-year agreement with the Colorado Center for Reproductive Medicine ("CCRM"), a global pioneer in fertility science, research and advancement. Under the terms of the agreement, Cryoport's temperature-controlled solutions will support CCRM's fertility treatments, including in vitro fertilization (IVF), fertility preservation, third-party reproduction and egg donation.
CCRM will utilize Cryoport's world-class temperature-controlled supply chain management and informatics platform to process cryogenic shipments of human eggs and embryos throughout its network with the mission of helping intended parents grow their families. CCRM's network is made up of 11 centers in North America staffed by over 40 physicians, 22 PhD's and 560 dedicated employees. In addition to Cryoport assuming responsibility for all cryogenic logistics activity, Cryoport expects to extend its support to include shipments at -80°C using its C3™ line of shippers as CCRM achieves scale.
Jerrell Shelton, CEO of Cryoport, said, "Our relationship with CCRM is truly exciting! CCRM is a distinguished leader and pioneer in fertility science and research. It supports a national network of award-winning physicians, a full suite of fertility services, innovative technology, and cutting-edge laboratories. CCRM helps thousands of families with fertility aspirations annually. We are confident of our growth strategy for the Reproductive Medicine market as we expand our reach globally."
Jon Pardew, CEO of CCRM, said, "Partnering with Cryoport to use their world-class supply chain solutions allows us to operate more efficiently across our enterprise, mitigate risks in our supply chain and better serve the intended parents that come to us with intentions to grow their families. Cryoport's size, scale and breadth of solutions make them the right partner to ensure we offer the highest quality experience available as we expand the reach of our business."
About CCRM Fertility
Founded by Dr. William Schoolcraft in 1987, CCRM (Colorado Center for Reproductive Medicine) Fertility is the nation's leader in fertility care and research. CCRM Fertility specializes in the most advanced fertility treatments, with deep expertise in in vitro fertilization (IVF), fertility assessment, fertility preservation, genetic testing, third party reproduction and egg donation. Unlike many other fertility clinics that outsource their specialists and testing needs, CCRM leverages its own data, as well as a dedicated team of in-house reproductive endocrinologists, embryologists and geneticists in order to deliver industry-leading outcomes. CCRM proudly operates 11 state-of-the-art IVF laboratories and 26 locations across the U.S. and Canada, including Atlanta, Boston, Dallas, Denver, Houston, New York, Northern Virginia, DC, Minneapolis, Orange County, San Francisco Bay Area, and Toronto. For more information, visit www.ccrmivf.com, become a fan on Facebook, or follow us on Instagram and Twitter.
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, serving the Biopharma, Reproductive Medicine, and Animal Health markets. Through its family of companies, Cryoport Systems, MVE Biological Solutions, CRYOPDP and Cryogene, Cryoport provides strategic solutions that will support the growing needs of these markets.
Our mission is to support life and health on earth through our 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 news release which are not purely historical, including statements regarding Cryoport'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 Cryoport'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 Cryoport's cash flow, market acceptance risks, and technical development risks. Cryoport's business could be affected by a number of other factors, including the risk factors listed from time to time in Cryoport's SEC reports including, but not limited to, Cryoport's 10-K for the year ended December 31, 2019, Cryoport's Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 and any subsequent filings with the SEC. Cryoport cautions investors not to place undue reliance on the forward-looking statements contained in this press release, which speak only as of the date of this press release. Except as required by law, Cryoport 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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