Benzinga | Aug 25, 2021 01:24PM EDT

Cryoport, Mitsubishi Logistics Partner For Temperature-Controlled Supply Chain Solutions

* Cryoport Inc (NASDAQ:CYRX) and Mitsubishi Logistics Corporation (MLC) entered a multi-year strategic business alliance to create an integrated regenerative medicine supply chain partnership in Japan. The financial terms of the deal were not disclosed.

* The partnership will provide integrated, end-to-end distribution solutions for specialty cell and gene therapies.

* MLC will use Cryoport's temperature-controlled and traceability solutions to meet the increasing demand for cell and gene therapy supply chain solutions and strengthen its logistics capabilities.

* As of June 30, 2021, Cryoport supported 561 clinical trials in regenerative medicine globally, 29 of which are in the APAC region.

* Price Action: CYRX shares are trading higher by 0.26% at $61.4 on the last check Wednesday.