Nature of the Business

12 Months Ended

Dec. 31, 2019

Nature of the Business

Nature of the Business

Note 1. Nature of the Business

Cryoport, Inc. (“Cryoport”) is the market-leading provider of temperature-controlled supply chain solutions to the life sciences industry through its platform of purpose-built proprietary packaging, information technology, specialized cold chain logistics expertise, and biostorage services. The Company provides leading edge solutions to the biopharma, reproductive medicine and animal health markets to ship, store and deliver biologic materials, such as immunotherapies, stem cells, CAR-T cell therapies, vaccines and reproductive cells for clients worldwide. Cryoport actively supports pharmaceutical and biotechnology companies, points-of-care, contract research organizations, central laboratories, contract manufacturers, university researchers and other entities service the life sciences industry.

On May 14, 2019, the Company acquired substantially all of the assets of Cryogene Partners, a Texas general partnership doing business as Cryogene Labs (“Cryogene”).  Cryogene operates a temperature-controlled biostorage solutions business in Houston, Texas (see Note 13).  As a result of the Cryogene acquisition, the Company operates in two reportable segments: Global Logistics Solutions and Global Bioservices.  See Note 11 for segment information.

The Company is a Nevada corporation and its common stock is traded on the NASDAQ Capital Market exchange under the ticker symbol “CYRX.”