|By Business Wire||
|January 14, 2013 08:04 AM EST||
Cryoport, Inc. (OTCBB: CYRX) today announced that it is expanding its services to Clinical Reference Laboratory (CRL) for the transportation of high-value test samples and specimens. CRL is a leading provider of testing services for clinical trials, molecular diagnostics and toxicology.
“The expansion of our relationship with Cryoport demonstrates CRL’s commitment to using advanced logistics technology to meet Client-specific shipping requirements,” said John Byerley, CRL’s Vice President of Clinical Trials Operations. “CRL is pleased to expand our portfolio of global logistics services by partnering with Cryoport to offer this quality based, cost effective technology solution.”
CRL is currently utilizing Cryoport’s dry vapor liquid nitrogen shipping solution to transport patient samples for a major clinical trial being conducted in four countries across Europe. The Cryoport web-based logistics management portal is being used to book, track, and document all the shipments for this study.
Cryoport’s President and Chief Executive Officer Jerrell Shelton stated, "CRL recognizes the importance of cryogenic shipping of biologics and the value of the Cryoport solution, which includes a cloud-based logistics platform and an experienced logistics team to ensure chain of condition and chain of custody. With our commitment of support, CRL and its customers can be assured of improved reliability and sample integrity with a proven and validated technology.”
About Clinical Reference Laboratory
CRL is a privately held reference laboratory offering leading-edge testing services in the areas of Clinical Trials, Corporate Wellness Programs, Molecular Diagnostics, Insurance, and Toxicology, from its state-of-the-art facility in Lenexa, Kansas. CRL is one of the largest single-site laboratories in the country with over 500 employees, a 192,000 plus square foot "campus" and performing millions of samples annually for hundreds of clients. The laboratory processes samples 24 hours a day, 7 days a week and receives samples from all over the United States and many foreign countries.
About Cryoport, Inc.
Cryoport provides leading edge frozen shipping logistics services through the combination of purpose built proprietary technologies and total turnkey management of the entire process. The Cryoport Express® liquid nitrogen dry vapor shipper is validated to maintain a constant -150°C temperature for a 10 plus day dynamic shipment duration, and its Cryoportal™ Logistics Management Platform manages the entire shipment process, including initial order, document preparation, customs clearance, courier management, shipment tracking, issue resolution, and delivery. Cryoport’s total turnkey service management approach offers reliability, cost effectiveness, and convenience, while the use of recyclable and reusable components provides a “green” and environmentally friendly solution. For more information visit www.cryoport.com.
Forward Looking Statements
Statements in this press 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 annual report on Form 10-K for the year ended March 31, 2012. 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.
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