NASHVILLE, Tenn. and RANCHO CORDOVA, Calif., Sept. 25,
2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX)
("Cryoport"), a global leader in supply chain solutions for the
life sciences industry, and SK pharmteco, a global contract
development and manufacturing organization, today announced a
strategic collaboration to provide fully integrated logistics and
manufacturing services to biotechnology and pharmaceutical
companies.
Cryoport, with its ability to provide end-to-end cell and gene
therapy support services from biomaterial collection to final
delivery via its fully integrated supply chain services and
equipment, including its shipping systems, data solutions, and
bioservices, will now support SK pharmteco's contract manufacturing
of both small molecule and cell and gene therapy products.
"We are delighted to be selected by SK pharmteco in supporting
its manufacture of APIs and intermediates, biopharmaceuticals, and
cell and gene therapies," said Jerrell
Shelton, CEO of Cryoport. "Our organizations share a mission
to support the life sciences by helping bring lifesaving treatments
to patients. This relationship not only extends our reach to more
people in need but also aligns with Cryoport's strategic goal to
further diversify and enhance our revenue streams, particularly as
we continue to drive higher revenue from the support of commercial
cell and gene therapies."
Dana Cipriano, Vice President,
Analytical Services for SK pharmteco, added, "The cell and gene
therapy industry continues to see substantial growth, and ensuring
the safety and integrity of the supply chain is essential for these
products. We are dedicated to our clients, and partnering with
Cryoport reflects our commitment to providing the highest-quality
services that are specifically tailored to meet the needs of our
customers and the patients they serve."
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX), is
a global leader in supply chain solutions for the Life Sciences
with an emphasis on cell & gene therapies. Cryoport enables
manufacturers, contract manufacturers (CDMO's), contract research
organizations (CRO's), developers, and researchers to carry out
their respective business with products and services that are
designed to derisk services and provide 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.
Our corporate headquarters, located in Nashville, Tennessee, is complemented by over
50 global locations in 17 countries, with key sites in the United States, United Kingdom, France, the
Netherlands, Belgium,
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 SK pharmteco
SK pharmteco is a global
contract development and manufacturing organization
(CDMO) with production sites, research &
development facilities, and analytical laboratories
across the U.S., Europe, and Korea. The company partners with
biopharmaceutical companies of all sizes to manufacture Active
Pharmaceutical Ingredients (API) and intermediates, cell and gene
therapy technologies, registered starting materials, and analytical
services for the biopharmaceutical industry worldwide. SK
pharmteco is a subsidiary of SK Inc.
(KRX: 034730) (SK), the strategic
investment company for SK Group, South Korea's second-largest
conglomerate.
For more information about SK pharmteco, please visit
www.skpharmteco.com.
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 expectations about future benefits of the support of SK
pharmteco's contract manufacturing of both small molecule and cell
and gene therapy products, including the potential impact on future
revenue and revenue streams. 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.
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SOURCE Cryoport, Inc.