Cryoport and Mitsubishi Logistics Corporation Partner to Bring Temperature-Controlled Supply Chain Solutions to Asia-Pacific

Rhea-AI Summary

Cryoport (NASDAQ: CYRX) has announced a multi-year strategic alliance with Mitsubishi Logistics Corporation to establish a regenerative medicine supply chain in Japan. This partnership aims to enhance logistics capabilities for specialty cell and gene therapies requiring strict temperature controls. By leveraging each other’s networks, both companies seek to improve operational performance and meet increasing demand in the Asia-Pacific region. As of June 30, 2021, Cryoport supported 561 global clinical trials, with a growing presence in the APAC region.

Positive

• Strategic alliance with Mitsubishi Logistics Corporation enhances operational capabilities in Japan.
• Expected synergy from combining global logistics networks to improve supply chain solutions for cell and gene therapies.
• Cryoport supports 561 clinical trials globally, indicating strong market presence.

Negative

• None.

NASHVILLE, Tenn., Aug. 25, 2021 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), a leading global provider of innovative temperature-controlled supply chain solutions to the life sciences including clinical research, pharmaceutical and cell and gene therapy markets, and Mitsubishi Logistics Corporation ("MLC"), Japan's leading pharma logistics company, today announced a multi-year strategic business alliance to create an integrated regenerative medicine supply chain partnership in Japan.

Cryoport and MLC will partner to create synergistic value by leveraging each other's global logistics networks. The partnership will provide integrated, end-to-end distribution solutions for specialty cell and gene therapies that demand stringent temperature control, track and trace systems and global distribution. MLC has chosen to adopt Cryoport's unique and proprietary temperature-controlled and traceability solutions to meet the increasing demand for cell and gene therapy supply chain solutions and to strengthen its logistics capabilities.

Mr. Masao Fujikura, President of MLC said, "This strategic alliance will strengthen our ultra-low temperature-logistics services for our valued customers both domestically and internationally, utilizing Cryoport's proprietary technologies for cell and gene materials."

Jerrell Shelton, CEO of Cryoport, said, "This strategic alliance furthers our expansion strategy in the Asia-Pacific ("APAC") region. MLC and Cryoport will encourage the use of each other's network, infrastructure, knowledge and resources to enhance each other's operational performance and to generate value for customers in Japan and overseas to meet demand from the increasing number of cell and gene therapies currently in development and expected to launch in coming years. Combining both companies' strengths is expected to realize reliable and seamless distribution services for biopharmaceutical and pharmaceutical companies in Japan and the APAC region."

As of June 30, 2021, Cryoport supported 561 clinical trials in regenerative medicine globally, 29 of which are in the APAC region. In addition, a number of therapies supported by Cryoport have recently been approved in the APAC region, including 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. Cryoport is continuing to build out its position to support the growing number of commercial therapies in anticipation of the next wave of expected commercial approvals in the APAC region.

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, Reproductive Medicine, and Animal Health 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.

FAQ

What is the CYRX partnership with Mitsubishi Logistics Corporation about?

The partnership aims to create a regenerative medicine supply chain in Japan, enhancing logistics capabilities for cell and gene therapies.

When was the strategic alliance between Cryoport and Mitsubishi Logistics announced?

The announcement was made on August 25, 2021.

How many clinical trials does Cryoport support as of June 2021?

As of June 30, 2021, Cryoport supports 561 clinical trials globally.

What markets does Cryoport serve?

Cryoport serves the life sciences, including clinical research, pharmaceuticals, and cell and gene therapy markets.

What is the significance of the alliance for the Asia-Pacific region?

The alliance is expected to enhance distribution services and meet the growing demand for cell and gene therapies in the Asia-Pacific region.