Cryoport expands supply chain network with acquisition of Cell&Co BioServices
Cryoport, Inc. (TN, USA) has announced its acquisition of Cell&Co BioServices (France). Cell&Co BioServices, a bioservices business providing biorepository, kitting and logistics services, will support the development of Cryoport’s global service offering, including creating opportunities for developers looking at conducting clinical trials or commercially distributing cell and gene therapies in Europe. Cryoport is a global leader in temperature-controlled supply chain solutions for the life sciences industry and has recently expanded its operations with partnerships and logistics centers.
Regarding the acquisition, Jerrell Shelton, Chief Executive Officer of Cryoport, stated, “We are indeed pleased to have the Cell&Co team as a part of Cryoport. Cell&Co will play a significant role in Cryoport Systems’ development of its Global Supply Chain Network, designed to meet the needs of the growing Regenerative Medicine industry worldwide. In fact, on a global basis, industry experts expect that between now and 2027 approximately 30 to 50 new cell and gene therapies will be introduced into the market each year. Cell&Co’s competencies combined with its location in the center of France makes it an excellent strategic fit for Cryoport Systems and will accelerate the expansion of its new Global Supply Chain Network by approximately two years.
Sofien Dessolin and Florent Belon, founders of Cell&Co BioServices made a joint statement saying, “The cell and gene therapy market is expected to grow rapidly and is a significant focus for us. We are proud of the work we have accomplished and even more of joining the Cryoport group with its objective of making medical innovation achievable and more reliable for the benefit of patients around the world. It is a source of great pride and a huge motivating factor. The time was right for us to be part of an industry-leading organization such as Cryoport in order to support our business, expand our product solutions, and become a significantly larger player in the life sciences industry. We are excited to be part of Cryoport’s strategic platform in the advanced therapies space in EMEA and look forward to continuing to lead Cell&Co as an integral part of Cryoport as it builds out its Global Supply Chain Network and other services.”
