SOURCE: CryoPort, Inc.

August 13, 2008 09:21 ET

CryoPort, Inc. Provides Update to Shareholders From Chairman/Chief Executive Officer Peter Berry

LAKE FOREST, CA--(Marketwire - August 13, 2008) - CryoPort, Inc. (OTCBB: CYRX) today provided an update to shareholders from Peter Berry, the Company's Chairman and Chief Executive Officer.

Dear Shareholders,

I am pleased to report to the Shareholders of CryoPort, Inc. the following update on this past year's events. I would like to begin by stating that the Company has made significant progress during the last year. Since we completely redesigned and re-engineered the original product, the CryoPort Express Shipper™ has made significant inroads into the Contract Research Organization (CRO) marketplace. We have had several ongoing pilot programs with both CROs and Diagnostic Laboratories that not only showcased the ease of use, durability, cost effectiveness and sustainability of the product, but also allowed us to educate ourselves and design proper logistics and protocols necessary for a successful rollout of the CryoPort Express Shipper™. We have made pilot shipments with our CryoPort Express Shipper™ to far reaching destination points all over the world.

During the year we worked diligently at maintaining the necessary level of operating capital in preparation for the rollout of the CryoPort Express Shipper™. We were able to obtain significant capital backing and follow on capital, which will be used to launch the CryoPort Express Shipper™ once we have completed our pilot program work. Of the net $4 million that we raised during the year, we still have more than $2 million available. This amount will be sufficient for the Company to produce enough inventory to support the rollout, as well as open a second potential recycling facility.

While all this progress is exciting and points to exceptional growth potential, there is still significant work that needs to be completed. Since we are working with multi-billion dollar enterprises, it is imperative that we ensure that every process and control is in place to produce the highest levels of quality and service. We continue to work very closely with these enterprises to ensure that once the rollout begins, it will do so in an efficient a manner as possible.

In closing, I would like to thank all of our shareholders for their continued support and look forward to reporting significant sales events in the not too distant future.

Sincerely,

Peter Berry
August 13, 2008

About CryoPort, Inc.

CryoPort (www.cryoport.com) develops leading edge, proprietary, technology-driven shipping and storage products for use in the rapidly growing global biotechnology and biopharmaceutical cold shipping chain. The products developed by CryoPort are essential components of the infrastructure required for the testing, research and end user delivery of temperature-sensitive medicines and biomaterials in an increasingly complex logistical environment.

"SAFE HARBOR"

This press release contains forward-looking statements. The words "estimate," "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.

Contact Information

  • Contact:
    Stuart Fine
    Carpe DM, Inc.
    908-469-1788