SOURCE: CryoPort

August 11, 2009 16:00 ET

CryoPort Raises $711,600 Through Shareholder Warrant Exercise

LAKE FOREST, CA--(Marketwire - August 11, 2009) - CryoPort, Inc. (OTCBB: CYRX) today announced that it has received $711,600 from the exercise of warrants by current shareholders. The warrants were due to expire in July and early August.

"We are very pleased that the warrant holders continue to support our efforts as we move the company toward full commercialization," stated Larry G Stambaugh, CryoPort Chairman & CEO. "We have gotten indications from other current warrant holders that they too will exercise as additional warrants expire in August and September. This added level of financing will assist as we move toward a more significant capital raise and focus our energies on commercializing CryoPort's frozen shipping product. We thank and acknowledge our shareholders for their continued support of our efforts."

About CryoPort, Inc.

CryoPort (www.cryoport.com) is commercializing proprietary, technology-driven shipping products for use in the rapidly growing global biotechnology and biopharmaceutical cold chain. The products developed by CryoPort are essential components of the infrastructure required for the clinical testing, research and end user deliver 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