PRZOOM - /newswire/ -
Point Roberts, WA, United States, 2005/05/12 - CryoPort, Inc. (OTC.PK: CYRX) announced today new information regarding the development of its one-way, one time use, disposable cryogenic shipper..
CryoPort, Inc. (OTC.PK: CYRX) announced today new information regarding the development of its one-way, one time use, disposable cryogenic shipper. Initially, this revolutionary new shipper was not expected to be ready for client use until the spring of 2006, with clinical trials commencing during the summer of 2006. However, due to an accelerated R&D schedule as the result of additional funding, the development stage of the "phase one" shipper is now complete. Prototype models of the new disposable cryogenic shipper are scheduled to be made available to select clients as early as July 2005.
CryoPort is currently working with a number of biotech and pharmaceutical companies who have a high level of interest in the disposable cryogenic shipper for use in drug delivery. Several of these companies are already using CryoPort's reusable cryogenic shipper which is currently being used to successfully ship product in ongoing clinical trials.
Cell Genesys, recently purchased 100 of CryoPort's reusable lightweight shippers with a projected need over the coming months for several hundred more. This initial order is intended to serve as a "Proof of Concept" for the technology that will be incorporated into the soon to be released disposable shipper.
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Since such statements involve risks and uncertainties, the actual results and performance of the Company may turn out to be materially different from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made herein; however, readers should carefully review reports or documents the Company files from time to time with the Securities and Exchange Commission.
SOURCE: CryoPort, Inc.
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