TMCnet News
Cryoport Biotech Activity Index "CoBRA Index" increases 30.1% in Q1 2017IRVINE, Calif., June 19, 2017 /PRNewswire/ -- The Cryoport Biotech Activity Index (the "CoBRA IndexSM") quantifies the activity in the development and clinical trials of regenerative therapies in the United States, and acts as a means by which investors, the media and industry participants can evaluate investment in the space. The CoBRA IndexSM was launched in February 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.
The CoBRA IndexSM increased 30.1% to 220 in the first quarter of 2017. This compares favorably to 4.4% growth of the index in Q4, 2016. The leveling off of the CoBRA IndexSM reported in Q4, 2016 appears to have been temporary as existing clinical trial activity has notably increased, which demonstrates the strength of the current pipline of therapies, as well as increasing confidence in their commercialization prospects. New trial starts also facilitated the overall increase in the index, contributing 9% to the index number for the quarter, up 3% from the prior quarter contribution. Regenerative therapies encompass 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, pre-treatment medical procedures, manufacturing and product released via complex analytical testing and concluding with patient dosing. The CoBRA IndexSM measures and distills the data from the flow of the processes against clinical trials and provides a unique view of the flow of therapy progression within the regenerative medicine space. Consistent or accelerating activity generates larger values which are aggregated into the index number. Jerrell Shelton, Chief Executive Officer of Cryoport, commented, "Cryoport's position as the industry leading provider of cryogenic logistics solutions to the Regenerative Therapy industry continued to provide unique and real-time insight into the progress of the regeneratie medicine industry at a time when new clinical trials are commencing and therapies are approaching commercialization. The market saw stronger corporate development activity in the first quarter of 2017, driven by several new phase II clinical trials for oncology indications. The total number of regenerative therapy trials now stands at 855, compared with 802 as of Q4 2016. "The outlook for the remainder of 2017 is extremely bullish as the first two regenerative therapies, developed by Kite Pharma and Novartis, filed their Biologic License Applications (BLA's) with the FDA. Many equity analysts expect both Kite and Novartis to receive FDA approval in 2017 which would be the green-light for commercial sales to commence," concluded Mr. Shelton. In the first quarter of 2017 approximately $2.5 billion invested in the development of regenerative therapies, which compares favorably with the total of $5.1 billion that was raised in all of 2016. It is estimated that regenerative therapies will generate more than $50 billion in annual revenues by 2021 and $250 billion by 2025. Visit CoBRA-Index.com for more information. About Cryoport, Inc. Cryoport is dedicated to
For more information, visit www.cryoport.com. Sign up to follow @cryoport on Twitter at www.twitter.com/cryoport. Forward Looking Statements To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cryoport-biotech-activity-index-cobra-index-increases-301-in-q1-2017-300475735.html SOURCE Cryoport, Inc. 
|
