CYRX - Life sciences industry logistics provider Cryoport acquires Cell&Co BioServices

Cryoport (NASDAQ:CYRX), a provider of logistics and supply chain solutions for the life sciences industry, on Monday said it acquired Cell&Co BioServices, a business providing biorepository, kitting, and logistics services. CYRX's purchase price for Cell&Co was €6.2M, comprised of an upfront cash and common stock consideration of €3.6M, and a potential earn-out of €2.5M based on the achievement of certain financial targets. Founded in 2012 and headquartered in Clermont-Ferrand, France, Cell&Co recorded revenue of about €2.6M in 2021. "Coupled with our new global supply chain centers in Houston, Texas and Morris Plains, New Jersey, Cell&Co will add significantly to the development of Cryoport Systems' global service offering. It will also provide Cryoport Systems with an EU site for importation services for non-EU clients...," said CYRX CEO Jerrell Shelton.

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Life sciences industry logistics provider Cryoport acquires Cell&Co BioServices