CryoPort Bolsters Operations with New Chief Commercial Officer and Senior Sales Directors

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SAN DIEGO--(BUSINESS WIRE)-- CryoPort, Inc. (OTCBB: CYRX) today announced that it has significantly expanded its marketing and sales operations by naming Mark Engelhart as Senior Vice President and Chief Commercial Officer, and Tony Goffe and Damon Baca as Senior Directors of Sales.

"The recent FedEx service launch is creating a number of new business opportunities, and we are now better positioned to leverage their effort," said Larry Stambaugh, CryoPort's Chairman and Chief Executive Officer. "These key additions to our commercial organization allow CryoPort to more effectively support the FedEx team that is reaching more potential customers through our cooperation. Mark Engelhart is a proven leader with outstanding relationships in the healthcare industry, and Tony and Damon have both the sales experience and entrepreneurial focus that will drive our business. Our growth strategy calls for continued addition of sales directors in certain targeted geographic regions, as well as further developing partnerships with leading shipping and logistics companies."

Mark Engelhart has spent more than 30 years in the pharmaceutical, biotechnology and contract research organization industries, with a track record of successfully developing and executing marketing and sales strategies. He has had product commercialization responsibility at Bayer AG, Abbott Laboratories, Quest Diagnostics and Covance, Inc. While at Bayer the product for which he was responsible grew revenue four-fold in one year, and at Abbott he managed a product launch that generated $120 million in first year sales.

Tony Goffe was previously a training supervisor and strategic account sales manager for United Parcel Service in Seattle where his clients included medical and biotechnology companies. He also has significant experience in product development and management with biotechnology and life science companies, including Monsanto, Sepracor, and CellPro. While at CellPro, Mr. Goffe developed a stem cell purifier method that is utilized by most stem cell companies today. Mr. Goffe will be based in San Francisco.

Damon Baca has more than 10 years of international sales and sales management experience. Most recently he was a global sales executive and supply chain specialist with FedEx Corporation in Sweden where his clients included AstraZeneca PLC, one of the world's largest biopharmaceutical companies. Mr. Baca will be based in CryoPort's San Diego headquarters.

About CryoPort, Inc.

CryoPort (www.cryoport.com) has developed a leading edge, proprietary, technology-driven transport and packaging system focused on providing a solution that replaces dry ice for the frozen shipping market in the growing global life science industry. The products developed by CryoPort have a 10+ day holding time, are using "green" materials and are essential components of the infrastructure required for the testing, research and end-user delivery of temperature-sensitive medicines and biomaterials in an increasingly complex global logistical environment.

Forward Looking Statements

Statements in this press release which are not purely historical, including statements regarding CryoPort, Inc.'s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, and technical development risks. The company's business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended March 31, 2010. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. CryoPort, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release. 


    Source: CryoPort, Inc.

Released April 7, 2011