Cryoport Appoints Bill Taaffe to Commercial Advisory Board

LAKE FOREST, Calif.--(BUSINESS WIRE)-- Cryoport, Inc. (OTCBB: CYRX) today announced it has named Bill Taaffe as a member of its newly formed Commercial Advisory Board (CAB). Mr. Taaffe was a founding member of ICON Clinical Research, and during his 18 years with the firm held the position of President and Chief Executive Officer, North America, prior to retiring in 2011. ICON is a leading global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. He has more than 40 years of experience in the pharmaceutical and clinical research industries, including serving as Chief Executive Officer, USA, of The Institute of Clinical Pharmacology.

“I believe Cryoport will become the industry standard for deep frozen shipping. While I believe my experience and contacts in the clinical research industry will be an important resource to the Company’s commercial team, I am looking forward to providing advice to Cryoport’s management on business development and commercial activities in the U.S. and overseas,” said Mr. Taaffe. “The Cryoport Express Solutions represent an important advancement in frozen shipping. In my opinion, the Cryoport dry vapor nitrogen shipping solutions can replace dry ice in many instances providing safer handling and more reliable transport of samples and commodities. From my days in the lab, I recognize the huge convenience and safety aspects of dry vapor nitrogen shipping over inconvenient and dangerous dry ice. The life science industries will soon learn that Cryoport can provide significant benefits to clinical research organizations, drug developers and others in biotechnology, not the least of which is reliability and safety.”

Cryoport’s President and Chief Executive Officer Jerrell Shelton commented, “We are fortunate to have Bill Taaffe join our Commercial Advisory Board. He is well known throughout the life science industry, and can play an important role in identifying new opportunities, as well as advising management on major partnerships, strategic transactions and service offering developments. We plan to make additional appointments to the CAB in the coming months, and believe the CAB can help drive commercial activity and develop plans to meet current and future needs in life sciences logistics.”

About Cryoport, Inc.

Cryoport provides leading edge frozen shipping logistics services through the combination of purpose built proprietary technologies and total turnkey management of the entire process. The Cryoport Express® liquid nitrogen dry vapor shipper is validated to maintain a constant -150°C temperature for a 10 plus day dynamic shipment duration, and its Cryoportal™ Logistics Management Platform manages the entire shipment process, including initial order, document preparation, customs clearance, courier management, shipment tracking, issue resolution, and delivery. Cryoport’s total turnkey service management approach offers reliability, cost effectiveness, and convenience, while the use of recyclable and reusable components provides a “green” and environmentally friendly solution. For more information visit www.cryoport.com.

LHA
Don Markley
310-691-7100
dmarkley@lhai.com
@LHA_IR_PR

Source: Cryoport, Inc.

Released January 7, 2013