Cryoport Expands Global Supply Chain Platform by Signing Agreement to Acquire CRYOPDP Acquisition will expand Cryoport's presence in both the EMEA and APAC regions and broaden Cryoport's range of temperature-controlled s

Cryoport Expands Global Supply

Chain Platform by Signing Agreement to Acquire CRYOPDP

Acquisition will expand Cryoport's

presence in both the EMEA and APAC regions and broaden Cryoport's range of temperature-controlled supply chain solutions for the

life sciences; Upon closing, the acquisition is expected to be immediately accretive to earnings.

NASHVILLE, Tennessee, August 21, 2020

- Cryoport, Inc. (NASDAQ: CYRX) ("Cryoport" or the "Company"), a global leader in temperature-controlled

supply chain solutions for the life sciences industry, today announced the expansion of its global supply chain network and services

by signing an agreement to acquire CRYOPDP, a leading global provider of innovative temperature-controlled logistics solutions

to the clinical research, pharmaceutical and cell and gene therapy markets, headquartered in Paris, France. The agreement provides

for Cryoport to acquire CRYOPDP in an all cash transaction valued at approximately 49 million. CRYOPDP generated over 42

million of revenue in 2019 and is expected to be immediately accretive to Cryoport's earnings upon closing. The acquisition

is expected to close within 60 days, subject to customary closing conditions.

CRYOPDP has over 220 dedicated employees

located in 22 global facilities in 12 countries and has more than 25 years of experience serving the life sciences and healthcare

industries, providing customized and turnkey transport solutions, with over 300,000 high-value, time critical annual shipments

globally. CRYOPDP covers a significant portion of the healthcare temperature-controlled supply chain including packaging, pick-pack

kit preparation, premium services and specialty courier support.

Upon completion of the acquisition, CRYOPDP

will provide significant complementary synergies with Cryoport's operating entity, Cryoport Systems, with very limited overlap

in capabilities and infrastructure, from a geographic as well as service and product support standpoint. As a Cryoport company,

CRYOPDP will strengthen Cryoport's geographic footprint and infrastructure within Europe, the Middle East and Africa ("EMEA")

and the Asia Pacific ("APAC") regions, all of which are emerging high growth areas in the biopharma and the cell and

gene therapy market.

Working closely with Cryoport Systems,

CRYOPDP will support the life sciences supply chain across the full spectrum of controlled temperature ranges and create significant

global cross-selling opportunities. As a unified platform, the parties believe that both Cryoport Systems and CRYOPDP will be able

to provide market leading support to the most complex and highest value life sciences product supply chains. In conjunction with

Cryoport Systems' Cryoportal Logistics Management Platform, CRYOPDP's complementing UnITy ITSM

platform will create an integrated global logistics solution that guarantees customers full visibility, control and integrity of

the "chain of custody" and "chain of condition" providing end-to-end operational excellence across all

temperature ranges worldwide. This unified global capability falls into Cryoport's Chain of Compliance , which

is an important part of Cryoport's continuous efforts dedicated to de-risking the entirety of the life sciences supply chain

processes for its clients.

Jerrell Shelton, Chief Executive

Officer of Cryoport, said, "Our acquisition of CRYOPDP is an important milestone in carrying out Cryoport's

strategy to further entrench and strengthen our global footprint and support capabilities for the entire life sciences

industry and especially for the fastest growing segment of high value, lifesaving cell and gene therapies. CRYOPDP is made up

of a strong team of professionals and led by experienced and highly motivated leadership. CRYOPDP is especially strong in

EMEA and APAC, where it enjoys a strong reputation as a valued specialist logistics provider to CROs (clinical research

organizations), the pharmaceutical industry, and the life sciences clinical research community. Over the coming months we

anticipate focusing more attention on the fast-growing cell and gene therapy industry, where CRYOPDP will play an increasing

role. CRYOPDP's best-in-class temperature-controlled logistics solutions are complementary to Cryoport Systems'

existing offering, which will allow both companies to leverage each other's strengths and expand our high growth

profile as well as provide a broader array of temperature-controlled supply chain solutions to our respective client bases

through coordinated cross-selling and up-selling of our new unified capabilities."

"Life science industry participants,

including clients of Cryoport Systems and CRYOPDP, regularly provide feedback about operational "pain points" and areas

in which they would like to see Cryoport develop in order to provide end-to-end supply chain support of their clinical and commercial

portfolios. The addition of CRYOPDP is a move that we believe addresses this feedback. Together with our organic growth initiatives

to build our robust software infrastructure and the most advanced temperature-controlled global supply chain network, this addition

of CRYOPDP will enable us to further extend our capabilities into the full range of temperature-controlled supply chain solutions

for the life sciences, as well as immediately expand our global infrastructure. The number of cellular and gene therapy trials

is growing and with an increasing number of commercial therapies coming to market, this acquisition proactively strengthens our

ability to meet the growing global demands of our life sciences clients, in research, clinical and commercial settings. We are

looking forward to closing this transaction and officially welcoming the CRYOPDP team to Cryoport, Inc.," concluded Mr. Shelton.

Cryoport management will host a conference

call and webcast, including a slide deck, at 8:30am ET on Friday, August 21, 2020 to discuss the acquisition.

Conference Call Information

The call will be recorded and available

approximately three hours after completion of the live event on the Investor Relations section of the Company's website at www.cryoport.com

for a limited time. To access the replay of the questions and answers, please follow this link. A dial-in replay of

the call will also be available, to those interested, until August 28, 2020. To access the replay, dial +1 844 512 2921 (United

States) or +1 412-317-6671 (International) and enter replay pin number: 10010738.

One of the top leaders in its field, CRYOPDP

aims to improve the health of people around the world by providing global innovative temperature-controlled logistics solutions

to the Clinical Research and Cell & Gene Therapy Communities. With headquarters in France, CRYOPDP has over 220 employees in

12 countries and operates in 150 countries. CRYOPDP is owned by Hivest Capital Partners, a French Private Equity Company based

About Cryoport, Inc.

(Nasdaq: CYRX) is redefining logistics for the life sciences industry by providing a platform of temperature-controlled supply

chain solutions, serving the Biopharma, Reproductive Medicine, and Animal Health markets. Our mission is to support life and health

on earth by providing reliable and comprehensive solutions for the life sciences industry through our advanced technologies, global

supply chain network and dedicated scientists, technicians and supporting team of professionals. Through its purpose-built, proprietary

Cryoport Express Shippers; Cryoportal information technology; validated Global Logistics Centers;

smart and sustainable temperature-controlled logistics; and biostorage/biobanking services, Cryoport serves clients in life sciences

research, clinical trials, and product commercialization. We support life-saving advanced cell and gene therapies and deliver vaccines,

protein producing materials, and IVF materials in over 100 countries around the world. For more information, visit www.cryoport.com

or follow @cryoport on Twitter at www.twitter.com/cryoport for live updates.

Forward-Looking Statements

Statements in this news 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. Words or phrases such as "believe," "may," "could," "will,"

"estimate," "continue," "anticipate," "intend," "seek," "plan,"

"expect," "should," "would" or similar expressions are intended to identify forward-looking

statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties.

These forward-looking statements

include, but are not limited to, statements concerning the potential benefit of Cryoport's acquisition of CRYOPDP and

the estimated or anticipated future business, performance and results of operations following the transaction. 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, (1) the conditions

to the closing of the CRYOPDP acquisition may not be satisfied; (2) the CRYOPDP acquisition may involve unexpected costs,

liabilities or delays; (3) the business of the Company may suffer as a result of uncertainty surrounding the CRYOPDP

acquisition; (4) the occurrence of any event, change or other circumstances that could give rise to the termination of the

CRYOPDP acquisition agreement; (5) risks and uncertainties associated with the effect of changing economic conditions, (6)

trends in the products markets, (7) variations in Cryoport's cash flow, (8) market acceptance risks, (9) technical

development risks and (10) other risks to the consummation of the CRYOPDP acquisition, including the risk that the CRYOPDP

acquisition will not be consummated within the expected time period or at all. Cryoport's business could be affected by

a number of other factors, including the risk factors listed from time to time in Cryoport's SEC reports including, but