CryoPort Announces Resignation of Chairman and Chief Executive Officer Larry Stambaugh

SAN DIEGO--(BUSINESS WIRE)-- CryoPort, Inc. (OTCBB: CYRX) today announced that its Board of Directors has accepted Larry Stambaugh’s resignation as the Company’s Chairman, Director and Chief Executive Officer, effective immediately.

Recently appointed Director Stephen E. Wasserman has been named Chairman, also effective immediately. In addition, the Board has formed an Office of the Chief Executive comprised of independent Directors to assume day-to-day management responsibilities of the Company on an interim basis, while the Board searches for a successor CEO.

“On behalf of the Board, I want to thank Larry for his dedication to CryoPort over the past three years, and for his efforts to advance the Company’s breakthrough CryoPort Express product and service offering,” said Mr. Wasserman.

About CryoPort, Inc.

CryoPort provides leading edge cold chain logistics services through the combination of purpose built proprietary technologies and total turnkey management of the entire process. The CryoPort Express liquid nitrogen based dry vapor shipper is validated to maintain a constant -150°C temperature for a minimum 10-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 and the Cold Chain Transport blog at http://www.cryoport.com/biological-shipping-blog/.

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

Source: CryoPort, Inc.

Released April 6, 2012