Cryoport’s History

1999

Cryoport was founded.

Six doctors come together to found Cryoport. The company was originally formed as a manufacturer of cryogenic dewar vacuum flasks in California. Their sole mission was to replace dry ice, which they considered an inferior method compared to cryogenic shipping. The company employed eight people, including the six founders.

2005

Cryoport, Inc. became a publicly traded company.

Through a reverse merger with G.T.5-Limited, a Nevada shell corporation, Cryoport became a publicly traded company, tradeding on the OTC Bulletin Board.

2012

Jerrell Shelton came on board as CEO.

Manufacturing was shuttered.

Driven by a belief that Cryoport has significant unfulfilled potential, a few key shareholders asked Mr. Shelton to become a member of the Board of Directors, effective October 2012. Shortly thereafter, in November 2012, Mr. Shelton was appointed President and CEO. Having led several companies to growth and success, Mr. Shelton brought his strategic vision and hands-on management experience to do the same for Cryoport.

Mr. Shelton’s initial strategy was to reposition Cryoport as a solutions-oriented Life Sciences company focused on cryogenic (-150°C) logistics. Over the next years he developed the infrastructure to be modular and agile to support the anticipated growth, enabling Cryoport to create a “first-to-market” advantage.

Over time, Cryoport became a global provider of end-to-end software and logistics solutions for the Life Sciences’ cold chain. We earned the reputation of the industry’s most trusted partner by providing cryogenic logistic solutions to regenerative medicines, reproductive medicines, animal husbandry commodities, tissues, vaccines, biologics, and advanced therapies, which gave them dependable access to their respective markets.

Mr. Shelton focused the company’s attention on a strategy for capturing the regenerative medicine, animal health, and reproductive medicine markets. He followed this by building an exceptional team of dedicated professionals, including scientists, engineers, technicians, and others.

2013 - 2015

Increasing revenue and NASDAQ listing.

With our strategy and the leadership team in place, we continued to invest in the development of best-in-class cryogenic logistics solutions for the Life Sciences industry using cutting-edge technologies.

With attention to detail and focus, we penetrated the emerging regenerative medicine market, where we concentrated on the growing market of cell & gene therapies, which required sophisticated logistics, specialized packaging, logistics informatics, and dependable transportation to meet the complex requirements of high value cell and gene therapies.

Mr. Shelton and his leadership team continued to work diligently on recruiting and preparing the Company for future growth.

The Cryoport Express^® Shipper line along with Cryoportal Logistics Management Platform was further perfected with a focus on supporting cell & gene therapies.

Revenue grew from $0.5 million in 2012 to $1.1 million in 2013 after winning the Zoetis account to support the distribution of the Marek’s (HVT) Disease vaccine.

In July 2015 Cryoport uplisted to the NASDAQ stock exchange (Nasdaq: CYRX).

2017

The leadership team continued its concentrated efforts in providing technology-centric logistics solutions to support the advancement of cell & gene therapies.

By way of explanation, cell therapies involve the transfer of cells themselves, while gene therapies go a level deeper by transferring genetic material into targeted cells.

In March 2017, we completed a common stock offering of $12.7 million. The offering was led by Cowen and Company and Needham & Company. Subsequently, we began attracting institutional shareholder interest and were covered by a number of analysts, including Cowen and Needham.

2018

A record year that reflects our value to the Life Sciences industry

Revenue of $19.0 million, a record year reflecting our value to the cell & gene therapy industry.

In June, CYRX added to the broad-market Russell 3000^® Index and the small-cap Russell 2000^® Index.

In December, announced a $25 million investment from Petrichor Healthcare Capital Management.

Showcase our innovative leadership by introducing our standard setting Chain of Compliance^®, which included “Chain of Custody” and “Chain of Condition” and component traceability of our Cryoport Express Shippers across the global supply chain.

2019

First step of transformation.

Our first acquisition and a $73.0 million common stock offering completed.

CRYOGENE acquisition

In May 2019, we acquired CRYOGENE, a state-of-the-art biostorage company based in Houston, Texas. The following month, we completed a common stock offering, led Jefferies and SVB Leerink, that raised $68.8 million.  Other syndicate participants include Needham & Co, Janney, B. Riley and Roth Capital.

In late 2019, we launched our Consulting Solutions operations as a part of Cryoport Systems, giving customers access to the industry’s best technical resources in engineering, design, and logistics consultation. Services continue to include shipping risk assessments; shipping lane validation; global regulatory and trade compliance services; training services; import/export, SOP’s and documentation; packaging validation; packaging and accessory design; and program management.

With these new competencies, Cryoport was positioned as a market leader in temperature-controlled supply-chain solutions for the Life Sciences industry as opposed to being a “cryogenic logistics” company.

Common Stock Offering

In June, we completed a common stock offering raising $73.0 million. The offering was led by Jefferies and SVB Leerink. This resulted in broadening of our institutional shareholder base and expanded analyst coverage.

Revenue of $33.9 million reported.

2020

Second step of transformation.

Two large, transformative acquisitions.

Record revenue of $78.7 million.

In 2020, we completed a $115 million convertible note financing. Shortly after, we acquired both CRYOPDP and MVE Biological Solutions.

CRYOPDP acquisition

In October 2020, we acquired CRYOPDP, a leading global provider of innovative temperature-controlled logistics solutions for high value, time critical and temperature-sensitive biopharmaceutical/pharmaceuticals. CRYOPDP provides the biopharma market with temperature-controlled logistics, including packaging, pick-pack kit preparation, premium services, and specialty biopharma/pharma courier support. At the time of acquisition, CRYOPDP added a network of 22 global logistics centers located in 12 countries to our global network. These additions expanded our logistics network to provide “last mile” services and to better serve our global multi-national clients. CRYOPDP also added redundancies and backup that reduced supply chain risk for our clients.

MVE Biological Solutions acquisition

In October 2020, we also acquired MVE Biological Solutions (MVE), the global leader providing cryobiological storage and transportation systems for the life sciences industry through its advanced line of cryogenic systems including stainless-steel freezers, aluminum dewars and related ancillary equipment used in the storage and/or transport of life sciences commodities. MVE’s three primary manufacturing facilities located in Ball Ground, GA, New Prague, MN and Chengdu, China. The acquisition was a vertical integration that, in addition to expanding our footprint to handle the growing demand driven by the growth in the cell and gene therapy market, was intended to further secure our supply of cryogenic systems. MVE’s clients include cell and gene therapy, medical laboratories, biotech/pharmaceutical research facilities, blood and tissue banks, animal breeders, academic institutions, veterinary laboratories, large-scale biorepositories, fertility clinics, government agencies, and other institutions.

Blackstone investment

To complete the above acquisitions, we partnered with the Blackstone Tactical Opportunities Fund, which invested $275 million in Cryoport via the purchase of common and preferred stock.

Established Cryoport, Inc. as an operating holding company with four business units: Cryoport Systems (legacy Cryoport), CRYOGENE, CRYOPDP and MVE Biological Solutions, with separate management teams operating these businesses. Cryoport now has leadership positions in cell & gene therapy logistics, biopharma specialty courier services, life sciences biostorage, cell & gene therapy bioservices, cryogenic systems manufacturing, cell & gene supply chain consulting, and purposed built packaging for cell & gene therapy.

2021

$287.5 million capital raise completed in January.

Record revenue of $222.6 million reported.

April 2021 and May 2021, we acquired Critical Transport Solutions Australia in Australia and

F-airGate in Belgium, respectively, to further enhance CRYOPDP’s existing global temperature-controlled logistics capabilities in the APAC and EMEA regions.

In August, we announced a collaboration with Mitsubishi Logistics to strengthen our services in Japan.

Completed a $350 million convertible offering to fund our internal projects and provide a “war chest” for future acquisitions.

2022

Third step of transformation.

Acquisition of Cell Matters in Belgium, Cell&Co Bioservices in France and geographical expansion through the acquisition of Polar Expres in Spain.

In April 2022, we acquired Cell&Co BioServices in Clermont-Ferrand, France with additional operations in Pont-du-Château, France to further enhance our existing global temperature-controlled supply chain capabilities. Cell&Co BioServices is a bioservices business providing biorepository, kitting, and logistics services to the life sciences industry and now a part of Cryoport Systems’ Global Supply Chain Center Network.

In July 2022, we acquired Polar Expres based in Madrid, Spain, which provides temperature-controlled logistics solutions dedicated to the life sciences industry. Polar Expres operates logistics centers in Madrid and Barcelona supporting the rapidly growing life sciences market. This acquisition further expanded CRYOPDP’s footprint in the EMEA region.

In July 2022, we also acquired Cell Matters based in Liège, Belgium, a company with cryobiology expertise, providing cryo-process optimization, cryoprocessing, and cryopreservation solutions to the life sciences industry. This acquisition was tied to Cryoport Systems’ new initiative to establish standardized, integrated and optimized apheresis collection, processing, biostorage, and distribution solutions for cellular therapies. The new platform will leverage the cryo-processing expertise of Cell Matters (rebranded IntegriCell™) to provide consistent, high-quality cellular starting material for use in the manufacture of life-saving cellular therapies.

2023

Record penetration in the Cell & Gene Therapy market, supporting over 650 active clinical trials and 12 commercial therapies.

Revolutionary line of Cryoport Elite™ shippers initially introduced with the Elite™ ULTRA COLD.

Cryoportal™ 2 Logistics Management Platform released.

IntegriCell™, which is expected to provide superior starting material for the manufacture of life saving cell therapies begun.

Acquired Tec4med, located in Darmstadt, Germany and providing next generation pharmaceutical supply chain visibility by integrating condition monitoring, cloud and artificial intelligence (AI) solutions through ready-to-use devices and intuitive easy-to-use software, offering customer-specific integrations. An important step in broadening our portfolio of condition monitoring solutions, fostering new product development, and accelerating EMEA market expansion.

Acquired Bluebird Express, a specialty courier, headquartered in Valley Stream, New York. Its deep experience and understanding of special courier air and ground solutions, domestically and internationally, will be integrated into CRYOPDP to assist in its efforts to build out the Americas.  With key operations centers in Los Angeles (LAX) & New York (JFK), Bluebird Express is an accredited cargo agent certified by the International Air Transport Association (IATA) and an indirect air carrier (IAC) authorized and regulated by the Transportation Security Administration (TSA). Cryoport has had a strong working relationship with Bluebird Express since 2016.

2024 & beyond

Innovating, evolving, and expanding.

It is our goal to be an essential supply chain company for the life sciences, with a focus on cell & gene therapies by differentiating ourselves through market driven, scientific competencies designed to support the growing regenerative medicine market.

Today, Cryoport, as a global family of operating companies, provides groundbreaking, efficient, rapidly scalable supply-chain innovation across the entirety of the life sciences supply chain by:

• • Providing standardized, scalable apheresis cryo-processing, and distribution
  • Ensuring effective product management through highly differentiated temperature-controlled logistics, shipping systems, and condition monitoring
  • Protecting critical therapies, treatments, and research utilizing our extensive biostorage, kitting, fulfillment, and QP services
  • Supplying cryogenic storage and transportation systems
  • Providing professional consulting

We have earned the reputation of the industry’s most trusted partner by providing market driven solutions to our life sciences clients, which gives them safe and dependable access to their respective markets and clients.

We plan to continue to grow organically and through acquisitions. We also plan to continue to build out our platform to better serve the Life Sciences through partnerships and collaborations with leading companies.

We believe cell & gene therapy is poised for significant growth over the years to come as these therapies become commercial and are more widely adopted for the treatment of an increasing range of medical conditions. We believe the world is in the beginning of a transformation in the way medicine is practiced because as technology improves, cell and gene therapies will become even more effective and widely adopted, transforming the way we approach and treat chronic medical conditions.