LAKE FOREST, Calif., April 29, 2015 /PRNewswire/ -- Cryoport, Inc. (OTCBB: CYRX) ("Company"), the leading provider of advanced cryogenic logistics solutions for the life sciences industry, serving markets including immunotherapies, stem cells, cell lines, clinical research organizations, vaccine manufacturers and reproductive medicine, today announced that the Company is supporting NeoStem, Inc.'s (NASDAQ: NBS) Intus Study to evaluate its lead cancer immunotherapy, NBS20, for the treatment of metastatic melanoma.
NeoStem, a biopharmaceutical company, is developing an autologous immunotherapy that uses a patient's own tumor cells to maximize the immune system's ability to identify and eliminate the cancer initiating cells that NeoStem believes are capable of reconstituting and developing new tumors. The proposed therapeutic combines a patient's own purified and irradiated cancer cells with specialized immune cells, educating the immune cells to destroy the cancer initiating cells from which tumors arise. The Intus Study for the treatment of metastatic melanoma has received Special Protocol Assessment and the program has received Fast Track and Orphan Drug Designations from the US Food and Drug Administration ("FDA").
Cryoport's best-in-class cryogenic logistics solution is providing comprehensive support for NeoStem's Intus Study, which is advancing to a Phase 3 trial. The Company is an important partner to the NBS20 development program as it launches the multi-center trial and provides access to enrolled patients to the cryopreserved, cell-based therapy that could potentially treat the rapid progression of the deadly cancer.
David J. Mazzo, Ph.D., Chief Executive Officer of NeoStem, commented, "At NeoStem, we are dedicated to preserving and enhancing human health through the development of novel cell-based individualized therapies like our lead Phase 3 program in immuno-oncology, the Intus Study, targeting the treatment of late-stage melanoma. Cryoport plays an important role in NBS20 development by supporting the Intus Study with the cryopreserved delivery of NBS20 to our clinical sites in the United States. They have been instrumental in facilitating trial access to our patients and we welcome the opportunity to further strengthen and expand our relationship with the company as we require additional support."
Jerrell Shelton, Chief Executive Officer of Cryoport, stated, "We are pleased to be able to support NeoStem with their efforts in developing innovative cell-based personalized therapies. Our validated cryogenic logistics solutions will maintain the integrity of the Intus trial as it advances through the regulatory pathway that has been set by the FDA. We are actively supporting the distribution of NBS20 and will eagerly continue to support NeoStem as it advances its clinical trials."
About Cryoport, Inc.
Cryoport is the premier provider of cryogenic logistics solutions to the life sciences industry through its purpose-built proprietary packaging, information technology and specialized cold chain logistics expertise. We provide leading edge logistics solutions for biologic materials such as immunotherapies, stem cells, CAR-T cells, and reproductive cells for clients worldwide including points-of-care, CRO's, central laboratories, pharmaceutical companies, contract manufacturers, and university researchers. Our packaging is built around our proprietary Cryoport Express® liquid nitrogen dry vapor shippers, which are validated to maintain a constant -150°C temperature for a 10 day dynamic shipment duration. Our information technology centers around our Cryoportal™ Logistics Management Platform, which facilitates management of the entire shipment process. Cryoport is the preferred cryogenic logistics solutions partner to the world's largest shipping companies controlling more than 85% of the world's air shipments. For more information, visit www.cryoport.com.
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Forward Looking Statements
Statements in this news 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.
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SOURCE Cryoport, Inc.