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

Cryoport Inc 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.