Cryoport, Inc. (NASDAQ: CYRX, CYRXW) (“Company”), today announced that World Courier, a part of AmerisourceBergen, will integrate Cryoport’s full suite of temperature-controlled solutions into its global network.
Integrated platform offers complete Chain of Compliance™ solutions for biopharmaceutical companies, ensuring full traceability of equipment, processes, and handling of cell and gene therapies while in transit.
This will result in an offering of Cryoport’s Chain of Compliance™ solutions to World Courier clients. Cryoport’s temperature-controlled solutions include Cryoport Express® shippers, use of the life sciences’ industry leading Cryoportal™ Logistics Management Platform, Smartpak II™ Condition Monitoring System and 24/7/365 logistics support to provide an integrated platform combining the strengths of both the Cryoport and World Courier systems to their respective biopharmaceutical clients, allowing each client to proactively minimize risks to their cell and gene therapies through the entire biopharma supply chain in order to maintain the efficacy of these valuable commodities.
These solutions will be offered through World Courier’s global network of more than 140 company-owned offices operating across 50 countries, as well as directly through Cryoport’s business development team. This agreement between World Courier and Cryoport is for an initial three-year period with an evergreen provision.
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Jerrell Shelton, Chief Executive Officer of Cryoport, Inc., commented, “Our Chain of Compliance™ solution is unique to the life sciences industry, offering full traceability including the ability to collect and interpret comprehensive, in transit data to ensure a significantly more intelligent supply chain. We are proud that it will be integrated into World Courier’s current offerings and to provide a seamless platform within the precision medicine space. Working in conjunction with World Courier to provide complete visibility of the location and the most critical aspects of the conditions in which the therapies reside removes uncertainties around the efficacy of the therapies, providing peace of mind to doctors, manufacturers and patients. World Courier has played a key role in over 15,900 clinical trials and partnering with it will enable a greater number of pharmaceutical companies to access our solutions, not just in the U.S., but globally.”
Sam Herbert, President of World Courier, commented, “We are pleased to offer Cryoport’s suite of temperature-controlled logistics solutions to our biopharmaceutical clients and mitigate risk within their commercial and clinical supply chains. This collaboration offers a more diverse range of reliable temperature-controlled solutions to our cell and gene therapy clients around the world.”
Forward Looking Statements
Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.’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 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 listed from time to time in the Company’s SEC reports including, but not limited to, the Company’s 10-K for the year ended December 31, 2017 filed with the SEC. The Company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.