RTTNews | Aug 21, 2020 10:42AM EDT

10:41 Friday, August 21, 2020 (RTTNews.com) - Shares of temperature-controlled logistics and biostorage services provider to the life sciences industry, Cryoport, Inc. (CYRX) are climbing more than 9% Friday morning after the company said it has agreed to buy CRYOPDP for approximately 49 million cash.

The stock touched a new high of $38.15 this morning.

Cryoport expands its global supply chain platform by signing the deal with CRYOPDP, which provides temperature-controlled logistics solutions to the clinical research, pharmaceutical and cell and gene therapy markets, headquartered in Paris, France.

Last year, CRYOPDP generated more than 42 million of revenue and is expected to be immediately accretive to Cryoport's earnings upon closing, which is expected within 60 days.

Read the original article on RTTNews ( https://www.rttnews.com/3123164/stock-alert-cryoport-rises-9-on-agreeing-to-buy-cryopdp.aspx)

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