Cryoport, Inc., the world’s leading temperature-controlled logistics company dedicated to the life sciences industry, has announced that it has expanded its suite of temperature-controlled solutions to include biostorage for the life sciences through its acquisition of Cryogene Partners (“Cryogene”). Cryogene operates a recently expanded 21,000 square foot state-of-the-art biostorage facility in Houston, specializing in the secure storage of biological specimens, materials and samples. The acquisition is structured as an asset purchase and is expected to be immediately accretive to Cryoport’s earnings.
Founded in 1999, headquartered in Lake Forest, California, within the vicinity of Los Angeles, Cryoport is a trusted global provider of temperature-controlled logistics solutions for life sciences commodities during distribution, 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, and others; 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. According to the company, 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.
Houston, Texas, based Cryogene is an industry leader in the management of critical biological commodities to support the advancement of cell and gene therapies, GMP biologics, and public health research. It provides customized, end-to-end chain of custody solutions for its clients. Cryogene has an impeccable reputation and has long-term contracts with Merck, MD Anderson, Houston Methodist Hospital, Texas Children’s Hospital, Mesoblast, Bellicum, Baylor University, and many other noted institutions due to its proven reliability.
Cryogene’s well equipped facilities store clients’ commodities covering the full range of temperatures from cryogenic through controlled room temperature. Its services include sample inventorying, data sample discrepancy resolution and accessioning samples into its validated data inventory software. Cryogene is ISO 9001 compliant, registered and inspected by the Food and Drug Administration (FDA); is routinely inspected by the Foundation for the Accreditation of Cellular Therapy (FACT) as a storage supplier for accredited cell banks; and manages its inventories by a validated sample inventory software system.
“On behalf of all the employees at Cryogene, I can say we are proud to be a part of Cryoport and its industry leading initiatives that provide the life sciences with unparalleled logistics solutions, and now, biostorage solutions. We have been building our business over the past fourteen years and it is, indeed, refreshing to be propelled into helping build a larger and greater endeavor, which will provide revolutionary services in the rapidly developing life sciences industry. Of course, with Cryogene as a part of Cryoport, we plan to accelerate Cryogene’s growth, but our focus at Cryogene will remain on our loyal, long-term clients that put their trust in us every day.” – Marshall Griswold, Chief Executive Officer of Cryogene and the managing founder
“We welcome the Cryogene team; they will be an important part of Cryoport as we move forward with the addition of temperature-controlled bioservices capabilities. By adding Cryogene to its family, Cryoport is further building out its ecosystem to better serve the life sciences and, especially, regenerative therapy. After months of careful research and discussions with the Cryogene team, we were impressed by their focus on clients, quality, regulatory compliance, technology, and monitoring solutions that protect high-value and sensitive biopharmaceutical commodities during storage. We determined that Cryogene’s commitment to quality is closely aligned with Cryoport’s values and makes Cryogene an excellent strategic and operational fit for our continuing development.”
“Cryogene has established an impressive client roster, demonstrating the strength of demand for high quality temperature-controlled biostorage options from the biopharma market. Over time, we plan for Cryogene to build on its strong foundation by expanding its services and its footprint.” – Jerrell Shelton, CEO of Cryoport
Sources
- https://www.prnewswire.com/news-releases/cryoport-expands-into-biostorage-through-the-acquisition-of-cryogene-300850233.html
- https://www.crunchbase.com/organization/cryoport#section-overview
- https://www.bizjournals.com/houston/stories/2004/04/12/story2.html
