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SOURCE Cryoport, Inc.
The Q2 CoBRA Index Reflects Continued Growth in Commercialization Activity in the Regenerative Therapy space, supporting clinical trial support activities
IRVINE, Calif., Oct. 5, 2017 /PRNewswire/ -- The Cryoport Biotech Activity Index (the "CoBRA IndexSM"), which quantifies the activity in the development and clinical trials of regenerative therapies in the United States, increased 8.6% to 239 in the second quarter of 2017. The CoBRA IndexSM acts as a means by which investors, the media and industry participants can evaluate investment in the space. The Q2 increase reflects the broad and continued growth in the regenerative therapy market.
The number of clinical trials within the regenerative medicine space has notably increased this year, demonstrating the strength of the current regimen of therapies, and increasing confidence in their commercialization prospects. The overall number of trials in the regenerative market increased from 855 to 899. During the second quarter of 2017, approximately $2.45 billion was invested in the development of regenerative therapies, an 88% increase from the second quarter of 2016.
There has been a change in the pace of growth from Q1 2017 (30.1%) to Q2 2017 (8.6%) in regenerative therapy research activity. New trial starts accounted for 33% of the index in Q2 vs. only 9% in Q1; these new trials helped offset the activity decrease in late stage trials. The CoBRA IndexSM observed that several late stage clinical trials slowed or paused patient dosing in preparation for commercial launch and/or were compiling data for Biologics License Applications (BLA) filings.
Mark Sawicki, PhD, Chief Commercial Officer of Cryoport, commented, "The outlook for regenerative medicine for the remainder of 2017 is extremely bullish as Novartis' lead CAR T-cell therapy, Kymriah, has received FDA approval and equity analysts expect Kite Pharma's lead product, axicabtagene ciloleucel (axi-cel), to receive FDA approval in 2017. We can expect the regenerative therapy space to remain active given the high numbers of new clinical trial starts that were reported. However, as a reminder, the CoBRA IndexSM only tracks activity in the clinical trial space. Therefore, the activity supporting any commercialized product will no longer be included in the CoBRA IndexSM for the quarter launched and thereafter."
Regenerative medicine encompasses an array of technologies and therapeutic approaches, the vast majority being cell and gene therapies, which are showing signs of revolutionizing treatment for a wide variety of diseases, ranging from hemophilia to cancer. Each of these clinical programs follow complex procedures which are initiated with patient recruitment for trials, followed by pre-treatment medical procedures, manufacturing and product released via complex analytical testing and concluding with patient dosing.
The CoBRA IndexSM measures and distills data from the flow of the processes supporting clinical trials and provides a unique view of the course of the total of regenerative therapies progression.
The CoBRA IndexSM was launched in February 2017 by Cryoport, Inc. (NASDAQ: CYRX, CYRXW) ("Cryoport" or the "Company"), the world's leading cold chain logistics solutions provider dedicated to the life sciences industry. Visit CoBRA-Index.com for more information.
About Cryoport, Inc.
Cryoport is the life sciences industry's most trusted global provider of temperature controlled logistics solutions for temperature-sensitive life sciences commodities, serving the biopharmaceutical market with leading-edge logistics solutions for biologic materials, such as regenerative medicine, including immunotherapies, stem cells and CAR-T cells. Cryoport's solutions are used by points-of-care, CROs, central laboratories, pharmaceutical companies, manufacturers, university researchers et al; as well as the reproductive medicine market, primarily in IVF and surrogacy; and the animal health market, primarily in the areas of vaccines and reproduction. Cryoport's proprietary Cryoport Express® Shippers, Cryoportal™ Logistics Management Platform, leading-edge SmartPak II™ Condition Monitoring System and geo-sensing technology, paired with unparalleled cold chain logistics expertise and 24/7 client support, make Cryoport the end-to-end cold chain logistics partner that the industry trusts.
Cryoport is dedicated to
Forward Looking Statements
Statements in this news release which are not purely historical, including statements regarding Cryoport, Inc.'s intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. It is important to note that the company's actual results could differ materially from those in any such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, risks and uncertainties associated with the effect of changing economic conditions, trends in the products markets, variations in the company's cash flow, market acceptance risks, and technical development risks. The company's business could be affected by a number of other factors, including the risk factors listed from time to time in the company's SEC reports including, but not limited to, the annual report on Form 10-K for the year ended March 31, 2016. The company cautions investors not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
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