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Profile: Cryoport Inc (CYRX.A)

CYRX.A on American Stock Exchange

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18 Jul 2019
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Cryoport, Inc. (Cryoport), incorporated on May 25, 1990, is a provider of cryogenic logistics solutions to the life sciences industry through its purpose-built packaging, information technology and specialized cold chain logistics expertise. The Company provides logistics solutions for biologic materials, such as immunotherapies, stem cells, chimeric antigen receptors (CAR)-T cells, and reproductive cells for clients. The Company's clients include companies and institutions that require cryogenic logistics solutions, such as therapy developers for personalized medicine, bio-pharmaceuticals, research, contract research organizations, diagnostic laboratories, contract manufacturers, cord blood repositories, vaccine manufacturers, animal husbandry related companies and in-vitro fertilization clinics.

The Company's Cryoport Express Solution includes a cloud-based logistics operating platform, which is branded as the Cryoportal. The Cryoportal supports the management of the entire shipment and logistics process through a single interface, including initial order input, document preparation, customs clearance, courier management, shipment tracking, issue resolution and delivery. In addition, it provides incisive information dashboards and validation documentation for every shipment. The Cryoportal records and retains a fully documented chain-of-custody and, at the client's option, chain-of-condition for every shipment. The branded packaging for the Company's Cryoport Express Solutions includes its liquid nitrogen dry vapor shippers, the Cryoport Express Shippers. The Cryoport Express Shippers are reusable cryogenic transport containers utilizing an application of dry vapor liquid nitrogen (LN2) technology. The Company's Cryoport Express Shippers include the Standard Dry Shipper, the High Volume Dry Shipper and the Cryoport Express CXVC1 Shipper.

The Company's solution can be accessed directly through its cloud-based Cryoportal or by contacting Cryoport Client Care for order entry. Cryoport arranges for the pick-up of the parcel by a shipping service provider, which is designated by the client or chosen by Cryoport, for delivery to the client's intended recipient. When the Cryoport Operations Center receives the Cryoport Express Shipper, it is cleaned, put through quality assurance testing and returned to inventory for reuse. In addition to the Company's standard turn-key solution, the Company also provides the customer facing solutions, which include Customer staged Solution, designed for clients making over 50 shipments per month; Customer Managed Solution, a customer implemented solution, whereby it supplies the Cryoport Express Shippers to clients in a fully charged state; powered by Cryoport, available to providers of shipping and delivery services, who seek to offer a branded cryogenic logistics solution as part of their service offerings; Integrated Solution, which is its total outsource solution, and Regenerative Medicine Point-of-Care Repository Solution, designed for autologous therapies.

Cryoport Express Solutions

The Company's Cryoport Express Solutions are made up of the Cryoportal software platform, Cryoport Express Shippers, Cryoport Express Smart Pak data loggers and its life sciences cold chain logistics expertise. The Cryoportal programmatically assists in the management of all aspects of the logistics operations beginning with order entry and continuing to monitor, log data, track shipments and store information. The Cryoportal is capable of producing a range of Cryoport Express Analytics, which report shipment performance metrics, and evaluates temperature-monitoring and other data collected by the Cryoport Express SmartPak during shipment.

Cryoport Express Solutions are focused on improving the reliability of cryogenic logistics. The Company provides end-to-end solutions for cryogenic logistics requirements, including management, transport, monitoring and data collection regarding frozen and cryogenically preserved biological commodities or pharmaceutical materials shipped primarily though integrators and Cryoport's logistics network, which includes specialty couriers, brokers and other intermediaries.

Cryoportal

The Cryoportal is used by the Company, its clients and its business partners to automate the entry of orders, prepare customs documentation, and to facilitate status and location monitoring of shipped orders while in transit. It is used by Cryoport to assist in managing logistics operations. Cryoportal has features, including automation of order entry, and programmatic exception monitoring to detect and anticipate delays in the shipping process.

The Cryoportal serves as the communications center for the management, collection and analysis of SmartPak data collected from SmartPak condition monitoring system in the field. Data is converted into pre-designed reports containing information, which can be utilized by Cryoport to provide feedback to its clients relating to their shipments. The Cryoportal is used for time- and temperature-sensitive shipments that are required to be maintained at specific temperatures, such as ambient (between 20 degrees and 25 degrees celsius), chilled (between 2 degrees and 8 degrees celsius) or frozen (minus 10 degrees celsius or less down to cryogenic temperatures minus 150 degrees celsius).

The Cryoport Express Shippers

The Company's Cryoport Express Shippers are cryogenic dry vapor shippers capable of maintaining cryogenic temperatures for a shipping period of over 10 days. Its Cryoport Express Shippers ensures that there is no pressure build up as the liquid nitrogen evaporates. It offers a retention system to ensure that liquid nitrogen stays inside the vacuum container, which allows the shipper to be designated as a dry vapor shipper. Specimens that may be transported using its cryogenic shipper include live cells, scientific or pharmaceutical commodities, such as cancer vaccines, diagnostic materials, semen, eggs, embryos, infectious substances, and other commodities that require continuous exposure to frozen or cryogenic temperatures.

The Company offers approximately three sizes of dry vapor shippers, which include the Cryoport Express Standard Shipper, the Cryoport Express High Volume Shipper and the Cryoport Express CXVC1 Shipper. The Company's Cryoport Express Shippers consists of an aluminum (aircraft-grade) dewar flask, containing a well for holding the high value biological or other materials in its inner chamber and retention foam that absorbs the liquid nitrogen placed in the shipper to provide it with its cold temperature.

Cryoport Express Standard Shippers

The Cryoport Express Standard Shippers are re-usable dry vapor liquid nitrogen storage containers. The Cryoport Express Standard Shipper is composed of an aluminum metallic dewar flask, with a well for holding the biological material in the inner chamber.

Cryoport Express High Volume Shippers

The Cryoport Express High Volume Shipper uses a dry vapor LN2 technology to maintain minus temperatures with a shipping endurance of approximately 10 days. The Cryoport Express High Volume Shipper is based on the same dry vapor technology as Cryoport's original standard dry shipper and utilizes an absorbent material to hold LN2.

Cryoport Express CXVC1 Shippers

The Cryoport Express CXVC1 Shipper is a shipper and can be used either as a dry vapor shipper or a liquid shipper. It is designed to focus on vaccine ampoules or cryovial shipments in canisters. The Cryoport Express CXVC1 Shipper is reusable and recyclable for transporting life science materials.

Cryoport Express Shipper Summary

The Cryoport Express Solutions are solutions available in the biotechnology and life sciences markets. It is engaged in the shipment of time- and temperature-critical, frozen and refrigerated transport of biological materials, such as stem cells, cell lines, pharmaceutical clinical trial samples, gene biotechnology, infectious materials handling, animal and human reproduction markets.

The Cryoport Express Smart Pak Temperature Monitoring System

The Company's Smart Pak System consists of a self-contained automated data logger and thermocouple capable of recording cryogenic temperatures of samples shipped in its Cryoport Express Shippers. The data-logging temperature probe is positioned within the shipper to record the accurate reading. The resultant temperature mapping includes both the temperature inside the chamber (which is closest to the actual biomaterial) and the external temperature.

Chain-of-Condition

The Company's Chain-of-Condition information is essential for various life sciences materials. Monitoring starts with its custom-built condition monitoring systems, which include the Cryoport Express SmartPak I and II. The Cryoport Express SmartPak provides data on the condition of the shipper and material shipped, which is critical for temperature-sensitive biologics. The Cryoportal acts as the data repository for all shipment and condition information, which the customer can access through the Internet.

Chain-of-Custody

When overlaid with the carrier check-ins, the data monitor and analysis also provides a chain-of-custody. The report from the data monitor serves as analysis for temperature monitoring of the entire shipment, as well as a tampering warning. The report identifies outlier temperature excursions, such as opening the shipment in customs or tampering.

Cryoport Express Analytics

Cryoport Express Analytics information is captured by the Cryoportal to provide the Company and its customers access to information from the shipments recorded in the Cryoportal to assist in the management of its customers' shipping. The analytical results are utilized by Cryoport to render consultative client services.

Biological Material Holders

A containment bag is used in connection with the shipment of infectious or dangerous goods using the Cryoport Express Shippers. Approximately 70 cryovials, which include polypropylene vials with high-density polyethylene closures, set on aluminum canes, are placed into an absorbent pouch, which is designed to contain the entire contents of all the vials in the event of leakage. This pouch is then placed in a watertight Tyvek bag (secondary packaging) capable of withstanding cryogenic temperatures, and then sealed. This bag is then placed into the well of the Cryoport Express Shipper.

Logistics Expertise, Consulting and Support

The Company offers Temperature Controlled Logistics Consulting Division to assist life sciences companies in developing strategies for global cold chain logistics management and contingency options to protect their biological commodities. The Temperature Controlled Logistics Consulting Division focuses on the demand created by the advances in cellular-based therapies, including immunotherapies, stem cells and CAR T-cells.

The Company competes with Insulated Shipping Containers, Inc., Tegrant, MVE/Chart Industries, Taylor Wharton, Air Liquide, Industrial Insulation Systems, Marathon Products Inc., Kodiak Thermal Technologies, Inc., BioMatrica, Inc. and Thermo Fisher Scientific.

Company Address

Cryoport Inc

17305 Daimler St
IRVINE   CA   92614-5510
P: +1949.2321900
F: +1949.4702306

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