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Acquisition works toward addressing needs of regenerative medicine industry
Cryoport, Inc, a temperature-controlled supply chain solution provider for the life sciences industry, has obtained Cell&Co BioServices, a bioservices business that offers biorepository, kitting, and logistics services to the same sector. The purchase price was $6.7 million. Among the benefits, the deal—Cryoport notes—is expected to help accelerate the company’s Europe, Middle East, and Africa (EMEA) expansion plans.
Cell&Co’s accreditations include ISO 9001, ANSM, NFS 96 900, and soon, ISO 20387. Supporting its biostorage and services of clinical and commercial biopharma therapies, Cell&Co has in-house qualified person (QP) services.
"We are indeed pleased to have the Cell&Co team as a part of Cryoport,” says Jerrell Shelton, Cryoport’s CEO. “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.”