Moffitt Cancer Center and Cryoport Announce Strategic Collaboration
Rhea-AI Summary
Moffitt Cancer Center and Cryoport (NASDAQ: CYRX) announced a strategic collaboration where Cryoport's CRYOGENE will provide state-of-the-art biorepository services at Moffitt's Speros FL campus in Pasco County, Florida. The collaboration aims to support the development of cell and gene therapies, with the industry projected to reach over $97 billion by 2033 at an 18.3% CAGR from 2024-2033.
The facility will be located adjacent to Moffitt's 250,000-square-foot Discovery & Innovation Center and will enhance collaboration across Moffitt's expanding health system. CRYOGENE, which currently manages over 25 million samples across its Texas locations, will provide biostorage technologies and logistics services to support patient treatments and medical research.
This partnership is part of Speros' master development plan, which includes multiple phases focusing on cell and gene therapies, AI, biotech, and other life sciences initiatives. Construction of Moffitt's outpatient and proton therapy center began in 2023, with completion scheduled for 2026.
Positive
- Strategic partnership with major cancer center expands CYRX's market presence
- Access to growing cell and gene therapy market projected at $97B by 2033
- Integration with Moffitt's 775-acre life sciences campus provides growth opportunities
- Expansion of biorepository services into new Florida location
Negative
- None.
Insights
This strategic collaboration marks a pivotal advancement in the cell and gene therapy infrastructure landscape. The partnership leverages CRYOGENE's biorepository expertise within Moffitt's ambitious 775-acre Speros campus, positioning it as a potential cornerstone in the
The facility's integration into Moffitt's 250,000-square-foot Discovery & Innovation Center creates a powerful synergy for accelerating therapeutic development. With CRYOGENE's track record of managing over 25 million samples and the projected
Think of this as building a highly sophisticated biological vault right next to a major research hub - it's like having a specialized bank that stores and manages critical biological assets directly connected to where groundbreaking research happens. This proximity and integration will likely reduce development timelines and costs while improving treatment accessibility.
The strategic placement of CRYOGENE's facility within the Speros campus represents a significant infrastructure development that will likely catalyze the region's transformation into a major biotech hub. The facility's location adjacent to Moffitt's research center creates an integrated ecosystem that will streamline the complex logistics of cell and gene therapy development.
This integration addresses a critical bottleneck in advanced therapy development - the need for seamless coordination between research, storage and clinical application. By centralizing these functions, the collaboration could significantly reduce the time-to-treatment window, a important factor in patient outcomes. It's similar to how Amazon's strategic warehouse placements revolutionized retail delivery - this setup could do the same for personalized medicine delivery.
Cryoport's CRYOGENE will provide Moffitt with state-of-the-art biorepository services
"Our goal is to make Speros the cell and gene therapy capital of the world," said Patrick Hwu, M.D., president and CEO of Moffitt. "With the addition of CRYOGENE, we will accelerate discovery by igniting collaborations and partnerships across disciplines to bring new therapies to patients faster and save more lives. This collaboration builds upon Moffitt's longstanding partnership with Cryoport's CRYOGENE and serves as an initial step in transforming our campus into a global epicenter of innovation."
"Having CRYOGENE's facility with a seasoned team located directly on the Speros campus and at Moffitt's research facility provides top-level research and biotech companies with the critical tools and infrastructure to immediately operate more effectively," said Marshall Griswold, CEO of CRYOGENE. "We all share a common goal to save and improve patients' lives, and our team is ready and eager to assist Speros and Moffitt in fulfilling this mission."
The addition of CRYOGENE's biostorage facility will lay the foundation for Moffitt's Speros campus as a global epicenter for patient treatment and research in cell and gene therapies, immunotherapies, radiopharmaceuticals, proton therapies and other expanding technologies and treatment pathways. This facility will be included in the initial phase of the development of Speros and is located adjacent to Moffitt's 250,000-square-foot Discovery & Innovation Center for research.
Jerrell Shelton, CEO of Cryoport, added, "We are honored to be partnering with Moffitt's Speros campus to support the needs of research and cancer patients receiving medical care at this world class life sciences campus and cancer center. Through our collaboration, Cryoport's CRYOGENE will provide cutting-edge biostorage technologies and logistics services to support patients' treatments as well as the invaluable medical and biopharmaceutical research taking place at Moffitt to accelerate scientific discovery and save lives today and tomorrow."
Biorepositories play a crucial role in the development and storage of cell and gene therapies, an industry projected to reach over
The facility will enhance collaboration across Moffitt's expanding health system while also supporting emerging blood sciences and organ and tissue biobanking protocols. The biorepository will provide streamlined access to critical research and clinical activities, along with essential capabilities for distributing research and treatment materials.
"Bringing a biorepository industry leader like Cryoport to our emerging life sciences campus is a foundational component of Speros in providing science as a service," said Sabi Singh, Moffitt's Chief Operating Officer. "Speros will be a place where paradigm-shifting science impacts human health. This collaboration with Cryoport will drive other academic, clinical, life sciences, pharmaceutical and research institutions to join our mission."
Speros' master development plan for its global innovation life sciences campus spans multiple phases. Speros will expand the cancer center's global footprint and will serve as a dynamic nexus for the convergence of biotech and life sciences. In its initial phases of development, Speros will focus on mission-critical activities, including cell and gene therapies, artificial intelligence, biotech, business incubators and accelerators, drug discovery, bioengineering, metabolism, data science, machine learning, health care, life sciences, basic research and complementary amenities. Construction on Moffitt's outpatient and proton therapy center began in early 2023 and is scheduled for completion by 2026.
CRYOGENE focuses on the secure storage of biological material and provides innovative biostorage solutions to the research, biotech and pharmaceutical industries. With over 25 million samples securely stored and managed under its care, CRYOGENE provides the highest quality secure sample storage services available. CRYOGENE has two locations in
About Speros FL
Speros FL's mission is to unleash collective genius to improve human life. As a global innovation hub for science, technology and health care, Speros brings people and resources together to solve complex problems to advance hope and a healthier future. A mission-driven real estate venture, Speros realizes this vision by developing a comprehensive ecosystem of converging industries, including artificial intelligence, biotech, business incubators and accelerators, cell and gene therapies, data, health care, life sciences, machine learning, research and academia, and complementary amenities. For more information, visit SperosFL.org.
About Moffitt Cancer Center
Moffitt is dedicated to one lifesaving mission: to contribute to the prevention and cure of cancer. The
About Cryoport, Inc.
Cryoport, Inc. (Nasdaq: CYRX), is a global leader in supply chain solutions for cell & gene therapies that enable manufacturers, contract development manufacturers (CDMOs), contract research organizations (CROs), developers, and researchers to carry out their respective business with certainty. We provide a broad array of supply chain solutions for the life sciences industry. Through our platform of critical products and solutions, which include advanced temperature-controlled packaging, informatics, specialized bio-logistics services, bio-storage, bio-services, and cryogenic systems, we are "Enabling the Future of Medicine™" worldwide, through our innovative systems, compliant procedures, and agile approach to superior supply chain management.
Its corporate headquarters, located in
For more information, http://www.cryoportinc.com or follow via LinkedIn at https://www.linkedin.com/company/cryoportinc or @cryoport on X, formerly known as Twitter at www.twitter.com/cryoport for live updates.
Forward-Looking Statements
Statements in this press release which are not purely historical, including statements regarding Cryoport'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. These forward-looking statements include, but are not limited to, those related to Cryoport's expectations about future benefits of the strategic collaboration with Moffitt Cancer Center, including the potential impact on future revenue and revenue streams. It is important to note that Cryoport'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 and geopolitical conditions, supply chain constraints, inflationary pressures, the effects of foreign currency fluctuations, trends in the products markets, variations in Cryoport's cash flow, market acceptance risks, and technical development risks. Cryoport's business could be affected by other factors discussed in Cryoport's SEC reports, including in the "Risk Factors" section of its most recently filed periodic reports on Form 10-K and Form 10-Q, as well as in its subsequent filings with the SEC. The forward-looking statements contained in this press release speak only as of the date hereof and Cryoport cautions investors not to place undue reliance on these forward-looking statements. Except as required by law, Cryoport disclaims any obligation, and does not undertake to update or revise any forward-looking statements in this press release.
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SOURCE Cryoport, Inc.
FAQ
What is the value of the cell and gene therapy market that CYRX is targeting through the Moffitt partnership?
How many biological samples does CYRX's CRYOGENE currently manage?
When will the Moffitt Cancer Center facility partnering with CYRX be completed?
What services will CYRX's CRYOGENE provide at the Speros campus?
Where will CYRX's new biorepository facility be located at Speros?
