Partnership Will Enhance Support for
Biopharmaceutical Companies in Developing Cell and Gene
Therapies and mRNA-Based Treatments
NASHVILLE, Tenn. and CONROE, Texas, Oct. 15,
2024 /PRNewswire/ -- Cryoport, Inc. (NASDAQ:
CYRX) ("Cryoport"), a global leader in supply chain solutions for
the life sciences, and VGXI, Inc., (VXGI) a subsidiary of GeneOne
Life Science Inc. ("GeneOne" KOSPI: 011000) today announced a
strategic partnership to support biopharmaceutical companies in
developing cell and gene therapies and mRNA-based treatments.
VGXI is a leading contract developer and manufacturer
specializing in nucleic acid biopharmaceuticals, including gene
therapies, DNA vaccines and RNA medicines, and ADC
applications. Through this new partnership, Cryoport Systems
will provide biostorage and bioservices from its Houston, Texas, facility for plasmid DNA
products manufactured at VGXI's state-of-the-art facilities in
The Woodlands, Texas, and its new
headquarters and manufacturing location in Conroe, Texas. The collaboration brings
together VGXI's industry-leading expertise in plasmid DNA
manufacturing with Cryoport's fully integrated, end-to-end supply
chain solutions. These include shipping services, data solutions
and comprehensive support services, ensuring seamless final
delivery to VGXI's end customers. Partnership operations are set to
commence in October 2024.
Jerrell Shelton, CEO of
Cryoport, commented, "Being chosen by VGXI as a
partner for biostorage and bioservices underscores our
shared commitment to quality and innovation. VGXI has a proven
track record of delivering high-quality plasmid DNA for
commercial gene therapies and clinical trial testing of leading
treatment candidates. Together, we will provide biopharmaceutical
companies a comprehensive and integrated solution to support
clinical programs that are developing lifesaving, next-generation
therapeutic modalities, a key part of our mission."
Young Park, CEO of VGXI, added,
"We are thrilled to launch this partnership to support our client's
advanced therapy programs, including cell and gene therapies,
mRNA-based treatments and DNA vaccines. Choosing Cryoport as our
trusted and reliable partner further elevates our mission by
ensuring safe, secure, and world-class storage and transport of
these assets."
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.https://myoridge.co.jp/
About VGXI, Inc.
VGXI is a leader in plasmid DNA contract manufacturing,
with 20+ years of experience providing high quality products to
biomedical researchers worldwide. We support clients that develop
DNA vaccines, immunotherapies, cell therapies, and gene therapies.
VGXI's manufacturing process and quality controls are coupled to a
continuous, low-shear AIRMIX® patented lysis technology, and
proprietary purification processes that provide highly supercoiled
plasmid production and exceptional purity. VGXI's portfolio
includes high quality plasmid for preclinical research, Highly
Documented (HD) plasmid as a critical raw material for GMP viral
vector production or pharm/tox studies, cGMP plasmid DNA for
clinical utilization through commercial supply, and custom
services. Since 2008, VGXI has been a subsidiary of GeneOne Life
Science. To learn more, visit https://www.vgxii.com.
About GeneOne Life Science
GeneOne Life Science Inc. ("GeneOne" KOSPI: 011000)
headquartered in Seoul, South
Korea is an international biotechnology company and a
leading contract manufacturer of DNA plasmids for use in vaccines,
gene therapies, and cell therapies. GeneOne has recently expanded
into the manufacture and development of mRNA. GeneOne has
maintained a focus on vaccines against emerging infectious diseases
to address global needs, including in resource challenged regions.
Its small molecule portfolio of immunomodulators address diseases
such as prevention of upper respiratory bacterial and viral
diseases, and treatment of autoimmune and inflammatory diseases.
GeneOne has three products against COVID-19 in clinical
development: GLS-5310 DNA vaccine (Phase I/IIa), GLS-1200 nasal
spray to prevent COVID-19 infection (Phase II), and GLS-1027 to
prevent the inflammation and clinical worsening for those infected
with COVID-19 (Phase II). For more information, visit
https://www.genels.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 industry, business, long-term
growth prospects, plans, strategies, acquisitions, future financial
results and financial condition, such as Cryoport's outlook and
updated 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 plans and expectations relating to its recently
announced cost reduction and capital realignment measures,
including that such measures will be fully implemented by the end
of 2024 and will positively impact Cryoport's financial results for
the second half of 2024 with approximately $22 million in annualized cost savings, driving
Cryoport towards its goal of profitability, as well as a return to
positive adjusted EBITDA in 2025; Cryoport's expectations of
continued softness in demand in its Life Sciences Products business
with demand to improve over the longer term as excess freezer
capacity is absorbed; Cryoport's expectations that its revenue will
continue to improve progressively during the course of the
remainder of 2024, along with a return to year-over-year revenue
growth in the second half of 2024; Cryoport's beliefs about a
broad-based market recovery for the life sciences industry except
for China, which it believes will
remain challenged through 2025; Cryoport's expectations of
sequential improvements across its Life Sciences Services offerings
driven in part by the ramp of clinical and commercial Cell &
Gene therapies its currently supports, as well as anticipated new
product and service launches later this year that will further
diversify and enhance its revenue streams; and Cryoport's belief
that operating costs and expenses, which include the start-up cost
of services planned to be introduced during the fourth quarter and
the first half of 2025, are expected to, as a percentage, decline
as these introductions are made and ramped up. 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. Additional risks and uncertainties include
difficulties, delays or Cryoport's inability to successfully
complete its planned cost reduction and capital realignment
measures, which could reduce the benefits realized from such
activities within the time periods currently anticipated.
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.