Cryoport Enters into Strategic Relationship with Takeda's BioLife Plasma Services
Cryoport has announced a strategic partnership with BioLife Plasma Services to create an integrated supply chain platform for cell therapy services across the U.S. and Europe. This collaboration aims to standardize the collection, processing, and storage of cellular therapies, enhancing compliance with GMP regulations. Operations will initially launch in Houston, Texas, leveraging Cryoport's logistics capabilities and BioLife's donation centers. This platform is projected to streamline processes, expand service offerings, and increase access to crucial cellular therapy materials.
- Strategic partnership with BioLife Plasma Services enhances service offerings.
- Establishment of an integrated supply chain platform for cellular therapies.
- Initial operations in Houston may lead to expanded access to cell therapies.
- None.
Cryoport plans to establish an integrated supply chain platform with BioLife Plasma Services to offer standardized cell therapy collection, processing, and storage services in United States and Europe over time
NASHVILLE, Tenn., Sept. 8, 2022 /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 it has entered into a strategic relationship with BioLife Plasma Services, part of the global biopharmaceutical company Takeda, intended to provide consistent, high-quality cellular starting material for use in the manufacture of life-saving cellular therapies.
By bringing together BioLife Plasma Services' proficiency in apheresis collection and their donation center infrastructure with Cryoport's life sciences' world-class capabilities and expertise in temperature-controlled supply chain solutions for the biopharmaceutical industry, the companies aim to establish a standardized, integrated apheresis collection, processing, and distribution solution for cellular therapies. Importantly, the new platform will leverage the cryo-processing expertise of Cell Matters, which Cryoport acquired in late July 2022.
Today, the availability of cellular therapy assets is limited by inflexibility in donation scheduling, a lack of standardization in collection and processing, and challenges inherent towards ensuring compliance with the Good Manufacturing Process (GMP) regulations. This new relationship, which will facilitate strict compliance with applicable GMP regulations, aims to shorten processing and logistics time and standardize collections, contracting, and equipment, in turn, enabling researchers and developers to accelerate cellular therapy programs. Increased access to apheresis, with efficient, scalable and reliable end-to-end processes will benefit not only donors and patients, but manufacturers and the providers of these life-saving therapies.
Commenting on the agreement, Jerrell Shelton, Chief Executive Officer of Cryoport stated, "This strategic relationship with BioLife Plasma Services is a prime example of how our world-class expertise in providing supply chain solutions to the life sciences industry and our expansion into new geographies and services offerings, such as bioservices and cryo-processing, creates exciting new opportunities. Our goal is to streamline the complex processes necessary to treat an increasing number of patients with today's most advanced cell therapies while ensuring the highest quality and safety standards."
As a first step, the two companies will establish a new operating platform in Houston, Texas, that will provide end-to-end collection, processing, and distribution services by bringing together Cryoport's new Houston-based global supply chain center with BioLife Plasma Services' local donation facilities. Under the leadership of BioLife employees trained in and with extensive knowledge of the fields of cellular therapy and apheresis, cellular collections will be performed by dedicated cellular collection staff in a designated space within the BioLife Plasma Services donation center. With immediate effect, the companies will co-operate in strategic business and marketing activities, with the intent of attracting and building a pipeline of customer demand that will utilize the offering. This will provide the opportunity to define infrastructure and capital commitments required to scale up and potentially expand the offering throughout the United States and Europe over time.
Hema Tallman, Global Head of BioLife Plasma Services added, "Cell therapy is one of the most promising areas of development in healthcare today. This agreement reflects BioLife Plasma Services' and Takeda's transformative leadership and commitment to bringing better health and a brighter future to patients worldwide. As we are constantly exploring how we might serve unmet patient needs, this relationship will optimize the use of our first-class facilities, industry-leading capabilities and our skilled workforce of medical professionals and technicians. The operational synergy between plasmapheresis and leukopheresis combined with Cryoport's leading flexible cryogenic logistics solutions, uniquely positions the two companies to implement and potentially scale a market-leading end-to-end offering across our global donation center network that could enable more patients to benefit from these life-saving therapies."
Operations are expected to begin in 2022 with apheresis scheduling and collections to be initiated by BioLife Plasma Services in the Houston area. Cryoport will provide cold chain solutions inclusive of packaging, logistics, data management, consulting, program management, cryo-processing, and bioservices.
Cryoport, Inc. (Nasdaq: CYRX), headquartered in Nashville, TN, is a global leader in temperature-controlled supply chain solutions for the life sciences industry supporting life-saving cell and gene therapies across the clinical and commercial spectrum. With 38 strategic locations covering the Americas, EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific), Cryoport's global platform provides mission-critical solutions, services, and products to Biopharma, Reproductive Medicine, and Animal Health customers worldwide. In addition to its standard setting supply chain solutions, Cryoport is the world's largest manufacturer of cryogenic systems and one of the largest life science focused specialty couriers. As of July 31, 2022, Cryoport supported nine commercial cell and gene therapies and 626 regenerative medicine clinical trials in over 150 countries with 81 of these trials in Phase 3.
For more information, visit www.cryoport.com or follow @cryoport on Twitter at www.twitter.com/cryoport for live updates.
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, long-term growth prospects, plans, strategy, acquisitions, future financial results and financial condition, such as the Company's outlook and guidance for full year 2022 revenue and the related factors expected to drive revenue, projected trends in the markets in which the Company operates, the Company's intention to expand overall manufacturing capacities, the Company's plan for a new Global Supply Chain Center in Paris, the Company's repurchases of shares of its common stock, and regulatory approvals with respect to the products of the Company's clients. 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, including as a result of the COVID-19 pandemic and its variants, supply chain constraints, inflationary pressures and the effects of foreign currency fluctuations, 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 year ended December 31, 2021, its Quarterly Reports on Form 10-Q filed with the SEC during 2022, as well as in its 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.
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