IRVINE, Calif. and LAKE FOREST, Calif., March 24, 2015 /PRNewswire/ -- CombiMatrix
Corporation (NASDAQ: CBMX) and Cryoport, Inc. (OTCBB: CYRX), today
announced CombiMatrix has selected Cryoport as its cryogenic
logistics partner for the distribution of its new CombiPGS™ genetic
screening test.
Cryoport is the leader in global cryogenic logistics for frozen
eggs, embryos, and sperm serving the reproductive medicine market.
Cryoport works with more than 260 clinics in the United States in addition to clinics in
more than 80 countries worldwide. In addition to normal lanes of
traffic, Cryoport has successfully shipped thousands of samples to
locations as diverse as Nepal,
Malaysia, and Vietnam. The Company's logistics network is
validated and has the required expertise to manage cryogenic
logistics for reproductive medicine samples on a global basis.
CombiMatrix, based in Irvine,
Calif., is one of the leading clinical diagnostic
laboratories specializing in cytogenomic testing for prenatal
diagnosis, miscarriage analysis, and pediatric developmental
disorders. CombiPGS™, the preimplantation genetic screening
(PGS) test offered by CombiMatrix, helps increase the chances of
having a viable pregnancy. CombiPGS is used by intended parents
wanting to increase implantation rates when undergoing IVF
treatment, improving live birth rates, reducing the risk of
miscarriage, or increasing the confidence of embryo selection for
single-embryo transfer.
"We are looking forward to working with Cryoport," said
Mark McDonough, President and Chief
Executive Officer of CombiMatrix. "The sensitivity of our tests
requires across the board reliability, which is also a strict
mandate for all of our partners. CombiMatrix has built a reputation
as a high touch, high complexity molecular diagnostics laboratory,
and we choose partners that will help us continue to deliver
phenomenal service to our physician customers and their patients.
Cryoport's validated cryogenic logistics solutions give us great
confidence that our CombiPGS service will have dependable access to
the global market."
Jerrell Shelton, Chief Executive
Officer of Cryoport, stated, "Our relationship with CombiMatrix
further extends our commitment to the field of reproductive
medicine including IVF clinics. We think CombiMatrix's
ability to enable preimplantation genetic screening paired with our
superior global cryogenic logistics competencies for the IVF market
dramatically enhances the support of intended parents."
About Cryoport, Inc.
Cryoport is the premier provider of cryogenic logistics
solutions to the life sciences industry through its purpose-built
proprietary packaging, information technology and specialized cold
chain logistics expertise. It provides leading edge logistics
solutions for biologic materials such as immunotherapies, stem
cells, CAR-T cells, and reproductive cells for clients worldwide
including points-of-care, CRO's, central laboratories,
pharmaceutical companies, contract manufacturers, and university
researchers. Its packaging is built around our proprietary Cryoport
Express® liquid nitrogen dry vapor shippers, which are validated to
maintain a constant -150°C temperature for a 10 day dynamic
shipment duration. Its information technology centers around our
Cryoportal™ Logistics Management Platform, which facilitates
management of the entire shipment process. Cryoport is the
preferred cryogenic logistics solutions partner to the world's
largest shipping companies controlling more than 85% of the world's
air shipments. For more information, visit www.cryoport.com.
To download Cryoport's investor relations app, which offers
access to SEC documents, press releases, videos, audiocasts and
more, please click to download from your iPhone and iPad
or Android mobile device.
About CombiMatrix Corporation
CombiMatrix Corporation provides valuable molecular diagnostic
solutions and comprehensive clinical support to foster the highest
quality in patient care. CombiMatrix specializes in
pre-implantation genetic screening (PGS), prenatal diagnosis,
miscarriage analysis, and pediatric genetics, offering DNA based
testing for the detection of genetic abnormalities beyond what can
be identified through traditional methodologies. CombiMatrix
performs genetic testing utilizing a variety of advanced
cytogenomic techniques, including chromosomal microarray,
standardized and customized fluorescence in situ hybridization
("FISH") and high-resolution karyotyping. CombiMatrix is dedicated
to providing high-level clinical support for healthcare
professionals in order to help them incorporate the results of
complex genetic testing into patient-centered medical decision
making. Additional information about CombiMatrix is available at
www.combimatrix.com or by calling 1-800-710-0624.
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 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 annual report on Form 10-K for the year ended
March 31, 2013. 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.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995. These statements
are based upon our current expectations, speak only as of the date
hereof and are subject to change. All statements, other than
statements of historical fact included in this press release, are
forward-looking statements. Forward-looking statements can
often be identified by words such as "anticipates," "expects,"
"intends," "plans," "goal," "predicts," "believes," "seeks,"
"estimates," "may," "will," "should," "would," "could,"
"potential," "continue," "ongoing," "objective," similar
expressions, and variations or negatives of these words and
include, but are not limited to, statements regarding our ability
to successfully commercialize our PGS test offerings into the IVF
market-. These forward-looking statements are not guarantees
of future results and are subject to risks, uncertainties and
assumptions that could cause our actual results to differ
materially and adversely from those expressed in any
forward-looking statement. The risks and uncertainties
referred to above include, but are not limited to: our
ability to expand into new geographic markets, our ability to
execute on our third-party payor strategy, market acceptance of CMA
as a superior method of molecular diagnostic testing; our ability
to successfully expand the base of our customers and strategic
partners, add to the menu of our diagnostic tests in both of our
primary markets, develop and introduce new tests and related
reports, optimize the reimbursements received for our testing
services, and increase operating margins by improving overall
productivity and expanding sales volumes; our ability to
successfully accelerate sales, allow access to samples earlier in
the testing continuum, steadily increase the size of our customer
rosters in both developmental medicine and oncology; our ability to
attract and retain a qualified sales force; rapid technological
change in our markets; changes in demand for our future products;
legislative, regulatory and competitive developments; general
economic conditions; and various other factors. Further
information on potential factors that could affect our financial
results is included in our Annual Report on Form 10-K, Quarterly
Reports of Form 10-Q, and in other filings with the Securities and
Exchange Commission. We undertake no obligation to revise or
update publicly any forward-looking statements for any reason,
except as required by law.
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SOURCE Cryoport, Inc.; CombiMatrix Corporation