Cryoport and Cell and Gene Therapy Catapult Announce Strategic Collaboration at Stevenage Manufacturing Innovation Centre for Advancement of Cell and Gene Therapies
Partnership Establishes Cryoport Systems' First U.K. Logistics Center to Support Future Expansion and Provide End-to-End Supply Chain Solutions for Advanced Therapy Manufacturers
NASHVILLE, Tenn. and STEVENAGE, United Kingdom, Oct. 10, 2023 /PRNewswire/ -- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport"), a leading global provider of innovative products and services to the fast-growing cell and gene therapy industry enabling the future of medicine for a new era of life sciences, and the Cell and Gene Therapy Catapult ("CGT Catapult"), an independent innovation and technology organisation specializing in the advancement of cell and gene therapies, today announced the organisations have entered into a new strategic partnership to support the advancement of cell and gene therapies.
Through this collaboration, Cryoport Systems will establish its first global supply chain logistics centre in the U.K., a Good Manufacturing Practice (GMP)-compliant facility located within the bioscience cluster in Stevenage, U.K., at the CGT Catapult's large-scale cell and gene therapy Stevenage Manufacturing Innovation Centre. The partnership will provide CGT Catapult collaborators, and the larger U.K. cell and gene therapy community, with access to Cryoport's integrated, end-to-end supply chain capabilities including risk mitigation services and logistics support. The collaboration between the partners will commence operations in early 2024.
"The cell and gene therapy industry has become an area of rapid growth in the U.K. with increasing governmental support, making now the prime opportunity to partner with CGT Catapult to offer advanced therapy manufacturers streamlined solutions for their cold chain logistics needs," said Jerrell Shelton, CEO of Cryoport. "This partnership provides a valuable step in the expansion of our global supply chain infrastructure buildout to help accelerate the process of clinical development and commercialization of cell and gene therapies in the U.K. It also expands Cryoport Systems' footprint and advances our longer-term plans in this region by starting with this initial foothold."
Matthew Durdy, Chief Executive of the Cell and Gene Therapy Catapult, added, "Cryoport's expertise in the logistics and supply chain needs of advanced therapy manufacturers is an invaluable addition to the life sciences ecosystem in Stevenage and the wider U.K. The services Cryoport offers will support the continued growth of the industry, by strengthening even further the established global supply chains from the U.K., and we look forward to the future success of Cryoport in the U.K."
About Cryoport, Inc
Cryoport, Inc. (Nasdaq: CYRX), is a global provider of innovative products and services to the fast-growing Cell & Gene Therapy industry - enabling the future of medicine for a new era of life sciences. With 48 strategic locations covering the Americas, EMEA (Europe, the Middle East and Africa) and APAC (Asia Pacific), Cryoport's global platform provides mission-critical bio-logistics, biostorage, bioprocessing, and cryogenic systems to the life sciences markets worldwide.
For more information, visit www.cryoport.com or follow @cryoport on X, formerly known as Twitter at www.twitter.com/cryoport for live updates.
About the Cell and Gene Therapy Catapult
The Cell and Gene Therapy Catapult is an independent innovation and technology organisation committed to the advancement of cell and gene therapies with a vision of a thriving industry delivering life changing advanced therapies to the world. Its aim is to create powerful collaborations which overcome challenges to the advancement of the sector. The Cell and Gene Therapy Catapult works with Innovate UK.
For more information, please visit https://ct.catapult.org.uk/ or https://www.ukri.org/councils/innovate-uk/.
Forward-Looking Statements
Statements in this press release which are not purely historical, including statements regarding the Company'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 the Company's industry, business, long-term growth prospects, including expected growth in all of the Company's markets, plans, strategies, acquisitions, future financial results and financial condition, such as the Company's outlook and guidance for full year 2023 revenue and the related assumptions and factors expected to drive revenue, projected growth trends in the markets in which the Company operates, the Company'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, the Company's plans to further strengthen its business and continue to position itself for long-term and profitable growth in the cell and gene therapy industry, and anticipated regulatory filings or approvals with respect to the products of the Company's clients. 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, including as a result of the COVID-19 pandemic and its variants, supply chain constraints, inflationary pressures, the ongoing war between Russia and Ukraine and the effects of foreign currency fluctuations, 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 discussed in the Company'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 the Company cautions investors not to place undue reliance on these forward-looking statements. Except as required by law, the Company 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.
