Partnership Will Provide Cell and Gene Therapy Industry with Fully Integrated Logistics and Manufacturing Services for Regenerative Medicine Products
NASHVILLE, Tenn. and YOKOHAMA, Japan, June 20, 2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a global leader in supply chain solutions for the life sciences, and Minaris Regenerative Medicine Co., Ltd. ("Minaris"), a global contract development and manufacturing organization for cell and gene therapies, today announced a strategic partnership to provide fully integrated logistics and manufacturing services to biotechnology and pharmaceutical companies for regenerative medicine products to support the advancement of cell and gene therapies.
The collaboration combines Cryoport's extensive capabilities and experience in meeting the logistics needs of the life sciences industry and Minaris' expertise in contract manufacturing of regenerative medicine products including stem cells, gene therapy, biomaterials and engineered tissue.
Jerrell Shelton, CEO of Cryoport, commented, "We look forward to partnering with Minaris to provide cohesive supply chain solutions and manufacturing services for regenerative medicine products, starting from the collection of cells and tissues all the way to the delivery of these critical products and services to patients. This partnership perfectly aligns with our organization's commitment to support the medical community and the people it serves."
Dr. Hiroto Bando, CEO of Minaris, added, "Ensuring secure transport, including the use and operation of specialized containers, as well as quality assurance, is essential for regenerative medicine products. By partnering with Cryoport, a best-in-class company that has considerable resources in all these areas, we will collaborate to provide high-quality services tailored to the exact needs of our customers. While this partnership is with Minaris' Japan -based branch, we will collaborate to ensure that we can provide services to customers across the entire Minaris group."
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX), is a global leader in supply chain solutions for cell & gene therapies that enable manufacturers, contract manufacturers (CDMO's), contract research organizations (CRO's), developers, and researchers to carry out their respective business with certainty. We provide a broad array of supply chain solutions for the life sciences industry. Through our platform of critical products and solutions including advanced temperature-controlled packaging, informatics, specialized bio-logistics services, bio-storage, bio-services, and cryogenic systems, we are "Enabling the Future of Medicine" worldwide, through our innovative systems, compliant procedures, and agile approach to superior supply chain management.
Its corporate headquarters, located in Nashville, Tennessee, is complimented by over 50 global locations in 17 countries, with key sites in the United States, United Kingdom, France, the Netherlands, Portugal, Germany, Japan, Australia, India, and China.
For more information, visit www.cryoportinc.com or follow via LinkedIn at https://www.linkedin.com/company/cryoportinc or @cryoport on X, formerly known as Twitter at www.twitter.com/cryoport for live updates.
About Minaris Regenerative Medicine Co., Ltd.
Minaris Regenerative Medicine is a global contract development and manufacturing organization (CDMO) for cell and gene therapies. Our vision is creating future cell therapy miracles together and we are committed to providing global manufacturing services, development solutions, and technologies for cell and gene therapies to improve society's well-being. We offer our clients high value clinical and commercial manufacturing services, development solutions, and technologies. We are pioneers in the field with more than 25 years' experience providing outstanding quality and reliability. Our facilities in North America, Europe, and Asia allow us to supply patients worldwide with life-changing therapies. Minaris Regenerative Medicine is wholly owned by Resonac Holdings Corporation.
For more information about Minaris, please visit https://www.rm.minaris.com/en/
Forward-Looking Statements
Statements in this press 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. These forward-looking statements include, but are not limited to, those related to Cryoport's industry, business, long-term growth prospects, plans, strategies, acquisitions, future financial results and financial condition, such as Cryoport's outlook and guidance for full year 2024 revenue and the related assumptions and factors expected to drive revenue, projected growth trends in the markets in which the Cryoport operates, Cryoport'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, Cryoport's expectations about future benefits of its acquisitions, and anticipated regulatory filings, approvals, label/geographic expansions or moves to earlier lines of treatment approved with respect to the products of Cryoport's clients. Forward-looking statements also include those related to Cryoport's anticipation that its revenue will progressively improve throughout the year, including anticipated acceleration of revenue from the Cryoport's Cell & Gene Therapy clients, Cryoport's expectations that MVE's cryogenic system sales will be challenged throughout the remainder of the year, the Cryoport's expectations of the long-term prospects of its Life Sciences Products business, including the anticipation of demand normalizing, which would allow Cryoport to benefit from its position as the global leader in this space, and Cryoport's planned initiatives to drive toward positive adjusted EBITDA and cash flow in the near term, which it expects should positively impact its results of operations for the second half of 2024. 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 and geopolitical conditions, supply chain constraints, inflationary pressures, the effects of foreign currency fluctuations, 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 other factors discussed in Cryoport'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 Cryoport cautions investors not to place undue reliance on these forward-looking statements. 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.
SOURCE Cryoport, Inc.
