SOURCE: CryoPort, Inc.

January 03, 2007 15:09 ET

CryoPort Signs Letter of Intent With Commodity Sourcing Group

BREA, CA -- (MARKET WIRE) -- January 3, 2007 -- CryoPort, Inc. (PINKSHEETS: CYRX) announced today that it has entered into a non-binding Letter of Intent with VHS Group LLC, dba Commodity Sourcing Group ("CSG") located in Detroit, Michigan.

The letter of intent stipulates that CryoPort will be the exclusive supply source to CSG for cryogenic transport containers and that CryoPort will supply to CSG all of its requirements of such containers. The two parties are discussing business development opportunities that could potentially provide necessary capital funding.

Under the terms of the letter of intent, CryoPort shall retain ownership of the technological rights to its product line and will provide CSG exclusive rights through a licensing agreement and in return CSG will pay CryoPort a royalty.

About CryoPort, Inc.

CryoPort ( develops leading edge, proprietary, technology driven shipping and storage products for use in the rapidly growing global biotechnology and biopharmaceutical sectors. The products developed by CryoPort are essential components of the infrastructure required for the testing, research and end user delivery components that make up the foundation of the biopharmaceutical and biotechnology industries.


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.

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