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SAN FRANCISCO and IRVINE, Calif., Sept. 04, 2019 (GLOBE NEWSWIRE) -- Vineti, Inc., and Cryoport, Inc. (NASDAQ: CYRX) (NASDAQ: CYRXW) announced a commercial partnership designed to extend end-to-end delivery of cell therapies and gene therapies to a growing number of patients as the industry continues to scale. Pairing Vineti’s supply chain orchestration (SCO) platform with Cryoport’s integrated temperature-controlled capabilities and near real-time monitoring will provide an end-to-end solution for advanced therapies, supporting the assurance of improved drug product quality and patient safety. Vineti and Cryoport together seek to leverage both of their commercial and clinical phase experiences and insights from serving biopharma customers.
Together, the Vineti-Cryoport solution will seek to provide biopharmaceutical developers with a pre-integrated SCO and temperature logistics system that will offer digital, optimized end-to-end traceability and control. With Vineti’s platform being deployed in more than 300 clinical centers world-wide within the next year, and Cryoport serving more than 400 clinical trials and three commercialized therapies, the collaboration between the two companies provides a broad-based global solution.
Vineti’s supply chain orchestration (SCO) platform, the only independent digital solution serving both clinical and commercial advanced therapy products, will help clients ensure that there is tight, automated management for each personalized drug product across the entire supply chain. The Vineti platform delivers digital Chain of Identity and Chain of Custody for regenerative therapies, providing essential patient safety and regulatory compliance for the most complex supply chain in the history of medicine.
Cryoport, the world's leading temperature-controlled solutions company serving the life sciences industry, will provide its logistics solutions for clinical and commercial advanced therapy products. Cryoport's suite of unique temperature-controlled logistics solutions include its Cryoport Express® Shippers, SmartPak II™ Condition Monitoring System, Cryoportal™ Logistics Management Platform and its signature 24/7/365 logistics support with intervention capability. These unparalleled capabilities enable users to monitor their shipments and track the conditions, location and courier handling of their biological commodities in transit around the clock and to deploy intervention capability to mitigate any potential logistics risks.
“Cryoport provides a range of powerful temperature-controlled logistics solutions to the cell and gene therapy market, and its team is constantly demonstrating a strong commitment to continuous improvement to keep pace with the remarkable scientific and medical progress in the field,” said Amy DuRoss, CEO and Co-Founder, Vineti. “We are proud to be partnering with Cryoport to support both clinical-phase and commercial customers, achieving efficiency and optimization on behalf of the patients they serve.”
Jerrell Shelton, CEO of Cryoport commented, “Collaborating with a leading-edge company like Vineti, which was co-founded by GE and the Mayo Clinic, underscores Cryoport’s expanding reach within this rapidly growing market. We are working constantly to secure valuable collaborations that expand our ecosystem of temperature-controlled solutions for the regenerative medicine market. As the regenerative medicine market matures, the demands of cell and gene therapy developers are becoming increasingly complex and we are committed to enhancing our offerings with collaborations such as this one with Vineti, the industry-leading supply chain orchestration (SCO) platform, to better serve the life sciences and bring on new clients.”
Vineti is the first commercial, configurable cloud-based platform to expand patient access to life-saving cell and gene therapies. Vineti was co-founded by GE and the Mayo Clinic to solve the key challenges that patients, medical providers, biopharmaceutical companies and regulators face in the delivery and commercialization of individualized therapies. Now a fully independent company, Vineti offers a digital platform of record to integrate logistics, manufacturing and clinical data for personalized therapies. The Vineti platform supports the full continuum of patient-specific therapies, including cancer vaccines and autologous and allogeneic therapies. The company is expanding rapidly, and the Vineti platform will be in use in hundreds of leading medical centers worldwide in 2019, on behalf of multiple biopharmaceutical partners. In 2019, the World Economic Forum selected Vineti as a global Technology Pioneer.
About Cryoport, Inc.
Cryoport is the life sciences industry's most trusted global provider of temperature-controlled 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 also provides a range of bioservices to the life sciences industry, including biostorage for biological specimens, materials and samples. 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. Cryoport is dedicated to: 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 Company’s 10-K for the year ended December 31, 2018 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.
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