Cryoport, Inc. (OTCBB: CYRX) today announced that it has reached
agreement with Zoetis Inc. (formerly the animal health business unit of
Pfizer Inc.) to expand the scope of the cold chain logistics services
Cryoport is providing.
In December 2012, Cryoport signed an agreement with Pfizer Inc. relating
to Zoetis Inc. pursuant to which we were engaged to manage frozen
shipments of a key poultry vaccine. Under this arrangement, Cryoport is
providing on-site logistics personnel and its logistics management
platform, the CryoportalTM, to manage shipments from the
Zoetis manufacturing site in the United States to domestic customers as
well as selected international distribution centers. As part of its
logistics management services, Cryoport analyzes shipping data and
processes to further streamline Zoetis' logistics, ensuring products
arrive to their destinations in specified conditions, on-time and with
the optimum uses of resources. Initially, Cryoport managed Pfizer’s
total fleet of dewar flask shippers used for this purpose, including
liquid nitrogen shippers.
In the amended agreement, Cryoport’s scope is expanded to manage all
domestic shipments of the key frozen poultry vaccine as well as all
shipments of this vaccine to all Zoetis’ international distribution
centers.
Cryoport President and CEO Jerrell Shelton stated, “The solutions we
provide Zoetis are made possible by our purpose-built Cryoportal
software logistics management system and our 24/7 logistics personnel
who power the solutions we provide. By outsourcing cold chain logistics
to Cryoport, our customers can achieve reliable services and have
greater visibility on the status of their shipments of vaccines
throughout the entire delivery and return processes. Cryoport solutions
provide greater peace of mind to our customers, knowing that our
Cryoport solutions are not only reliable, but effective, and
economically sound.”
About Cryoport, Inc.
Cryoport provides leading edge frozen shipping
logistics solutions to the biotechnology and life science industries
through the combination of purpose built proprietary hardware and software
technologies and total turnkey management of the entire logistics
process. Cryoport Express® liquid nitrogen dry vapor shippers are
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
input, document preparation, customs clearance, courier management,
shipment tracking, issue resolution, and delivery. Cryoport’s total
turnkey logistics solutions offer reliability, cost effectiveness, and
convenience, while the use of recyclable and reusable components
provides a “green” and environmentally friendly solution. Cryoport
service options include recording the “chain of condition” and “chain of
custody” for all shipments thereby meeting the exacting requirements for
scientific work and for regulatory purposes. 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, 2013. 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.
Copyright Business Wire 2013