SOURCE: CryoPort, Inc.

June 12, 2006 22:59 ET

CryoPort Updates Shareholders on Listing Status

BREA, CA -- (MARKET WIRE) -- June 12, 2006 -- CryoPort, Inc. (PINKSHEETS: CYRX) announced today that the company continues to pursue its application to list on the NASD OTC Bulletin Board. Initially, CryoPort made application to be listed on the NASDAQ Capital Markets Exchange. However, the Company does not currently meet the minimum price requirements to list with NASDAQ and has withdrawn its application at this time.

Peter Berry, CryoPort's CEO commented, "Although we are now a fully reporting company and in fact qualified for listing on the NASDAQ Capital Markets Exchange when our application was initially submitted, we have fallen below the minimum price requirement prior to the approval of our listing. As such, we have filed for listing on the NASD Over-The-Counter Bulletin Board for a period of time until our stock again qualifies for listing on NASDAQ. It is our intention to move to a senior exchange when appropriate and I am hopeful that our long-term investors will understand the cause and effect of this decision and will continue to remain supportive of CryoPort during what I believe will be an exciting couple of years as we strive to fulfill our potential."

Links to the Company's filings, corporate information and prior news releases can be located on the CryoPort website at www.cryoport.com.

About CryoPort, Inc.

CryoPort, Inc. develops leading edge, proprietary, technology driven shipping and storage products for use in the rapidly growing global biotechnology and pharmaceutical sectors. The products developed by CryoPort are essential components of the infrastructure required for the testing and research components that make up the foundation of the pharmaceutical and biotechnology industries. The company's product line includes single-use drug delivery systems for use in the delivery of pharmaceuticals requiring cryogenic shipping temperatures.

"SAFE HARBOR"

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. 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

  • Investor Relations:
    First Capital Investors, Inc.
    Trey Meehan
    321-221-2910
    Email Contact