Tailwinds’ Take: CYRX holds a commanding position in the delivery of regenerative therapeutics. KITE’s drug will be the second approved in this space. Expect more approvals and more Cryoport engagements going forward.
IRVINE, Calif., Sept. 5, 2017 /PRNewswire/ — Cryoport (NASDAQ: CYRX, CYRXW) (“Cryoport” or the “Company”), today announced that Kite Pharma has chosen Cryoport’s industry-leading, advanced technology suite of cryogenic logistics solutions for the life sciences industry to support the potential commercial launch of its lead chimeric antigen receptor (CAR) T-cell therapy, axicabtagene ciloleucel (axi-cel), for the treatment of aggressive Non-Hodgkin Lymphoma (NHL). The engagement is structured to support Kite throughout the lifecycle of axi-cel.
Under the terms of the agreement, Cryoport will provide logistics support throughout the United States in accordance with Kite’s plans for patient adoption of axi-cel. Cryoport’s advanced cryogenic logistics solutions are designed to meet all of Kite’s expanding cryogenic logistics requirements, including the use of its Cryoport Express® shippers, SmartPak II™ Condition Monitoring System, Cryoportal™ logistics platform, which includes chain-of-condition and chain-of-custody monitoring and, 24/7 logistics support. Being selected to provide commercial logistics support for Kite’s lead therapy candidate marks a significant scaling in Cryoport’s relationship with Kite and the opportunity for increased revenues for Cryoport.
Jerrell Shelton, CEO of Cryoport, stated, “Kite’s CAR T-cell therapy for non-Hodgkin lymphoma is based on pioneering science which uses the patients’ own immune cells to treat cancers. It offers hope to patients who previously had no other option left. We are delighted to be chosen to support the expected launch of this groundbreaking new therapy. Working with Kite to support its commercialization of axi-cel is a milestone for Cryoport. It also confirms our reputation as the logistics partner of choice to the life sciences industry’s efforts in immunotherapies, which are leading the way in the development of a vast array of therapies.”
In 2016, Cryoport and Kite expanded the agreement between the companies to support Kite’s trials for its clinical stage therapies. Today, Cryoport provides cryogenic logistics support for six additional clinical stage therapies by Kite Pharma.
On an industrywide basis, Cryoport currently supports over 140 clinical trials for its biopharma clients, 17 of which are in Phase III.
About Cryoport, Inc.
Cryoport is the life sciences industry’s most trusted global provider of cold chain logistics solutions for temperature-sensitive life sciences commodities, serving the biopharmaceutical market with leading-edge logistics solutions for biologic materials, such as regenerative medicine, including immunotherapies, stem cells and CAR-T cells. Cryoport’s solutions are used by points-of-care, CRO’s, central laboratories, pharmaceutical companies, manufacturers, university researchers et al; as well as the reproductive medicine market, primarily in IVF and surrogacy; and the animal health market, primarily in the areas of vaccines and reproduction. Cryoport’s proprietary Cryoport Express® Shippers, Cryoportal™ Logistics Management Platform, leading-edge SmartPak II™ Condition Monitoring System and geo-sensing technology, paired with unparalleled cold chain logistics expertise and 24/7 client support, make Cryoport the end-to-end cold chain logistics partner that the industry trusts.
- simplifying global cold chain logistics through innovative technology, unmatched monitoring and data capture and support, including consulting;
- delivering the most advanced temperature controlled logistics solutions for the life sciences industry; and
- providing vital information that provides peace of mind throughout the life of each logistics process.
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 Transition Report on Form 10-K for the nine months ended December 31, 2016 filed with the SEC. 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.