THE WOODLANDS, Texas & IRVINE, Calif.--(BUSINESS WIRE)--McKesson Specialty Health, a division of McKesson Corporation, announced a strategic collaboration with Cryoport, Inc. (NASDAQ: CYRX, CYRXW) designed to further strengthen its robust logistics services to support the delivery of cell and gene therapies to patients at the point of care. Adding Cryoport’s integrated cold-chain capabilities and real-time monitoring, the McKesson and Cryoport collaboration will provide an end-to-end solution for complex products which require high-touch patient access and adherence support as well as temperature-controlled product transportation.
Cryoport, the world's leading cold-chain logistics company serving the life sciences industry, will provide its cold-chain logistics solutions for temperature-sensitive biologic materials, such as immunotherapies, stem cells, CAR-T cells, biologics and reproductive cells. Cryoport's suite of unique cold-chain logistics solutions include its Cryoport Express® shippers, SmartPak II™ Condition Monitoring System, Cryoportal™ Logistics Management Platform and 24/7/365 logistics support. 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 is the premier provider of cold-chain logistics solutions to the life sciences industry, and we are pleased to work with them to enhance our ability to deliver critical time- and temperature-sensitive medications with short shelf lives to patients at the right time and place,” said Layne Martin, vice president, Supply Chain Services, McKesson Specialty Health.
Chief Commercial Officer of Cryoport Mark Sawicki, PhD, commented, “We are very pleased to have the opportunity to further extend and amplify our cold-chain logistics expertise with McKesson’s end-to-end patient access and support services focused on helping patients avoid delays in treatment through accelerated patient on-boarding, prior authorizations, end-user training and comprehensive adherence and educational support programs.”
McKesson and Cryoport, along with Fisher BioServices and GE Healthcare, are hosting a workshop titled, “Process Considerations for Cryogenic and Regenerative Medicine Commercialization.” The complimentary two-day workshop will provide a forum for industry experts to present and discuss current technological advancements in cryogenic management, regulatory requirements and best practices for processes in the support of regenerative medicine commercialization. The event will take place February 28-March 1 at the Marconi Automotive Museum in Tustin, California.
About McKesson Specialty Health
McKesson Specialty Health, a division of McKesson Corporation, works together with stakeholders across the healthcare delivery system to preserve and strengthen specialty care, passionately driven by the benefits it provides patients and the system as a whole. Through innovative provider, practice management, biopharma and payer solutions, McKesson Specialty Health focuses on improving the financial, operational and business health of our customers and partners so they may provide the best care to patients. At McKesson Specialty Health, we believe that we are all in this together. For more information, visit www.mckessonspecialtyhealth.com.
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's solutions are used by points-of-care, CROs, 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. For more information, visit www.cryoport.com. Sign up to follow @cryoport on Twitter at www.twitter.com/cryoport.
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, such as the expected use of the proceeds from the Offer, 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.