Cryoport Inks New Multi-Year Supply Chain Solutions Agreement with Monash IVF

Rhea-AI Summary

Cryoport signs a 3-year supply chain solutions agreement with Monash IVF Group Limited.

Positive

• Cryoport will provide cryogenic logistics solutions for the delivery of reproductive materials for Monash IVF and its operating businesses.
• Monash IVF is a leader in fertility services with more than 100 locations across Australia.
• The agreement will support individuals and families in Australia and Southeast Asia in their plans to become parents.

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• None.

NASHVILLE, Tenn., Oct. 12, 2023 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), a leading global provider of innovative products and services to the fast-growing cell and gene therapy industry enabling the future of medicine for a new era of life sciences, today announced that the Company has signed a new three-year supply chain solutions agreement with Monash IVF Group Limited (ASX: MVF), a leading provider of assisted reproductive services, as well as specialist women's imaging and diagnostic services in Australia and Southeast Asia.

Founded in 1971, Monash IVF is a leader in the field of fertility services and one of the largest providers of assisted reproductive technologies (ART) and tertiary-level prenatal diagnostics in Australia and Southeast Asia. With more than 100 locations across Australia, Monash IVF has achieved many Australian and world firsts in the industry. Its operating businesses include Monash IVF, Repromed, Fertility Solutions and KL Fertility Centre. Through this multi-year agreement, Monash IVF and its operating businesses will utilize Cryoport's cryogenic logistics solutions and ISO-certified risk mitigation process for the delivery of patients' reproductive materials throughout Australia and internationally. Reproductive materials may be moved from one clinic to another due to costs, a patients' personal move, access to specific donor materials, for storage purposes and more.

"At Monash IVF, we pride ourselves on bringing together specialists, sonographers, scientists, nurses and counselors who are leaders in their respective fields to deliver the best patient outcomes," said Michael Knaap, CEO of Monash IVF. "It should come as no surprise that we are equally dedicated to guaranteeing our partners' commitment to excellence. Cryoport's expert team and world-class logistics capabilities will provide our patients with the ease of knowing that their reproductive materials are secure throughout the entire shipping process."

"Monash IVF is Australia's oldest IVF provider, having achieved the world's first IVF pregnancy more than 50 years ago," added Jerrell Shelton, CEO of Cryoport. "To this day, the company remains a prominent leader in the field of fertility services. By joining forces and bringing our solutions and expertise to Monash IVF, we have the opportunity to support many more individuals and families throughout Australia and Southeast Asia in their plans to become parents."

About Cryoport, Inc
Cryoport, Inc. (Nasdaq: CYRX), is a global provider of innovative products and services to the fast-growing Cell & Gene Therapy industry - enabling the future of medicine for a new era of life sciences. With 48 strategic locations covering the Americas, EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific), Cryoport's global platform provides mission-critical bio-logistics, bio-storage, bio-processing, and cryogenic systems to the life sciences markets worldwide.

For more information, visit www.cryoport.com or follow @cryoport on Twitter at www.twitter.com/cryoport for live updates.

About Monash IVF Group
Monash IVF Group is a leading provider of assisted reproductive services and specialist women's imaging and diagnostic services in Australia and Malaysia. The Group is a driving force in the development of assisted reproductive technologies and has many Australian and world firsts since the work of our pioneers who achieved the first IVF pregnancy in the world in 1973.

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, long-term growth prospects, including expected growth in all of the Company's markets, plans, strategies, acquisitions, future financial results and financial condition, such as the Company's outlook and guidance for full year 2023 revenue and the related assumptions and factors expected to drive revenue, projected growth trends in the markets in which the Company operates, the Company's plans and expectations regarding the launch of new products and services, such as the expected timing and benefits of such products and services launches, the Company's plans to further strengthen its business and continue to position itself for long-term and profitable growth in the cell and gene therapy industry, and anticipated regulatory filings or 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, the ongoing war between Russia and Ukraine 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 discussed in the Company's SEC reports, including in the "Risk Factors" section of its most recently filed periodic reports on Form 10-K and Form 10-Q, 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.

FAQ

What is the new agreement between Cryoport and Monash IVF about?

The agreement is for Cryoport to provide cryogenic logistics solutions for the delivery of reproductive materials for Monash IVF and its operating businesses.

What is Monash IVF known for?

Monash IVF is a leader in fertility services with more than 100 locations across Australia.

How will the agreement support individuals and families?

The agreement will support individuals and families in Australia and Southeast Asia in their plans to become parents.