Cryoport Inc. (NASDAQ: CYRX) shares slipped, as the leading global provider of innovative products and services to the fast-growing cell and gene therapy industry enabling the future of medicine for a new era of life sciences, and NIPPON EXPRESS HOLDINGS, INC., global logistics company, today announced a strategic partnership to provide temperature-controlled supply chain services for the life sciences industry on a global basis.
Cryoport and Nippon Express will partner to design and implement comprehensive supply chain solutions to support each other’s business efforts. The partnership will cover globally. This relationship brings together Nippon Express’ industry-leading global logistics, with Cryoport Systems’ fully integrated system, processes and equipment including its shipping packages, data solutions, biostorage and bioservices, and the ability to provide complete cell and gene therapy support services from upstream biomaterial collection to final delivery for dosing.
CEO Jerrell Shelton commented, “This partnership builds on our growing presence globally and bolsters our ability to service customers by benefiting from Nippon Express’ industry-leading global network. As an organization, Cryoport is committed to enhancing its logistics solutions and adding new capabilities to support the life sciences. Today’s collaboration is the latest in a series of strategic partnerships to build greater value for our clients as we fulfill this mission.”
CYRX shares began Monday down 43 cents, or 2.9%, to $14.27.