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FedEx Introduces Deep Frozen Shipping Solution Using the CryoPort Express® Shipper

Dépèche transmise le 24 janvier 2011 par Business Wire

SAN DIEGO--(BUSINESS WIRE)--CryoPort, Inc. (OTCBB: CYRX) today announced that FedEx Corp. has launched the FedEx® Deep Frozen Shipping Solution using the CryoPort Express® Dry Shipper. The new offering is an innovative end-to-end service for the shipping of temperature-sensitive healthcare products around the world, and is an important component of the broader FedEx HealthCare Solutions portfolio of services for customers in the life science and biopharma industries.

“The launch of the FedEx Frozen Shipping Solution represents an important milestone in the development of CryoPort’s business, and validates the strength our dry shipper technology and service model.”

“We are very pleased and proud to be working closely with FedEx to provide a superior technology for frozen shipping in the life science industry,” said Larry Stambaugh, CryoPort’s Chairman and Chief Executive Officer. “The launch of the FedEx Frozen Shipping Solution represents an important milestone in the development of CryoPort’s business, and validates the strength our dry shipper technology and service model.

“Frozen shipping in the life science industry is estimated to be a $400 million market and growing rapidly as clinical studies, diagnostics and drug manufacturing are increasingly being performed on an international basis. FedEx understands the potential of this market and, with the introduction of its Deep Frozen Shipping Solution, continues to enhance its HealthCare Solutions offering,” said Stambaugh.

The FedEx Deep Frozen Shipping Solution uses liquid nitrogen dry vapor technology that maintains a temperature of below -150 degrees Celsius for up to 10 days using the CryoPort Express® Shipper. Unlike dry ice, this technology is classified as non-hazardous, which eliminates the complexities associated with being classified as dangerous goods. In addition, the overall process is simple. Customers place orders online through a customized FedEx portal. FedEx provides the pre-conditioned container to the customer to load their temperature-sensitive product. FedEx then delivers the container to its final destination while actively monitoring the shipment and intervening if needed during transit. Finally, FedEx picks up the container and returns it for refurbishing. The solution is classified under the International Air Transport Association (IATA) as a non-hazardous dry shipper and meets the requirements to handle both infectious substances (UN3373) and non-infectious clinical samples.

Customers involved with clinical trials, diagnostics, biotechnology or manufacturing of pharmaceuticals will benefit from the solution with the following features and benefits:

  • Up to 10 days of holding time (<-150C) especially to support complex international moves
  • Elimination of dry ice, removing the need to re-ice shipments or purchase, inventory or manage insulated boxes
  • No need to train personnel on handling hazardous materials
  • Reduced environmental impact since the non-dangerous goods container is recycled and liquid nitrogen evaporates harmlessly
  • Proactive monitoring and intervention from origin to destination, providing visibility to the shipments via the FedEx Priority Alert(SM) service

About CryoPort, Inc.

CryoPort (www.cryoport.com) has developed a leading edge, proprietary, technology-driven transport and packaging system focused on providing a solution that replaces dry ice for the frozen shipping market in the growing global life science industry. The products developed by CryoPort have a 10+ day holding time, are using “green” materials and are essential components of the infrastructure required for the testing, research and end-user delivery of temperature-sensitive medicines and biomaterials in an increasingly complex global logistical environment.

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, 2010. 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.

Business Wire

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