Cryoport Reports 64% Growth for Fiscal Year 2018 - - - Cryoport now supports 357 clinical trials in the Americas and EMEA with 47 in Phase

Cryoport Reports 64% Growth for

Cryoport now supports 357 clinical trials

in the Americas and EMEA with 47 in Phase III

IRVINE, California, March 7, 2019 - Cryoport, Inc. (NASDAQ:

CYRX) (NASDAQ: CYRXW) ("Cryoport" or the "Company"), the world's leading temperature-controlled logistics

company dedicated to the life sciences industry, today announced financial results for the three and twelve-month periods ended

Jerrell Shelton, Chief Executive Officer

of Cryoport, commented, "For 2018 we reported record revenue of $19.6 million, representing growth of 64% over our fiscal

year 2017, driven primarily by an 81% increase in the Biopharma market. This was the result of the ramp in commercial regenerative

medicine products we are supporting and significant growth in the number of clinical trials supported by Cryoport in the Americas

and EMEA (Europe, the Middle East and Africa), a region we will now report separately given its growing significance.

"At the end of 2018, clinical trials

supported by Cryoport increased to a total of 357, which includes 40 in the EMEA region. A record 47 trials are in Phase III, of

which 9 are in the EMEA region. This reflects the continued and rapid maturation of the regenerative medicine market and, specifically,

the progress our clients are making in advancing their potentially life-saving therapies to market.

"Revenue from our commercial agreements

to provide logistics support for Gilead's Yescarta and Novartis' Kymriah totalled $2.1 million for 2018

as they rolled out their therapies to patient populations in the United States. This revenue growth is expected to accelerate throughout

2019 as the U.S. rollout continues and the first revenues are generated in Europe, Australia, Canada and Japan.

"In 2018 the global regenerative

medicine market experienced significant growth, resulting in a rich and diverse pipeline of therapies. This generated significant

investor interest, with $13.3 billion invested in the global regenerative medicine market in 2018, up 73% from 2017, according

to the Alliance for Regenerative Medicine. Four Marketing Authorization Applications (MAA's) were filed in Europe and two

Biologics Licensing Applications (BLA's) were filed in the United States during 2018. We expect this momentum to continue,

with six additional Cryoport supported BLA and MAA submissions expected in 2019, based on internal information and forecasts from

the Alliance for Regenerative Medicine and Wells Fargo Securities."

Moving to the Company's newly introduced

Chain of Compliance and infrastructure build out, Mr. Shelton said, "To continue to strengthen and solidify

our position as the world's leading specialty logistic solutions provider for the life sciences industry, we have built a

strong foundation upon which to scale our operations as our markets mature, including launching our Chain of Compliance

solution for Biopharma, which offers complete traceability throughout our temperature-controlled logistics solutions. Furthermore,

with the opening of two state-of-the-art Cryoport Global Logistics Centers located in Livingston, New Jersey and Amsterdam, The

Netherlands, we continue to add to our capacity and redundancy, enabling us to further improve our services to the global market.

Our expanding Global Logistics Network supports our goal of ever improving our services in the Biopharma market for commercial,

clinical and pre-clinical clients.

"Our leadership in the industry coupled

with these investments in infrastructure has enabled Cryoport to continue securing valuable partnerships, such as our recent announced

agreements with Dacos A/S, a high-tech production company of life sciences products with headquarters in Denmark, as well as McKesson

and Be The Match BioTherapies , to offer integrated, end-to-end supply chain services to the cell and gene therapy

industry. These agreements add to our ecosystem and are expected to: (i) increase market penetration of our solutions, (ii) provide

a unified platform for compliance standardization and (iii) drive meaningful revenue growth, both in the near and long-term."

Mr. Shelton continued, "In the fourth

quarter of 2018, we also secured a $25 million investment from Petrichor Healthcare Capital Management to provide us with the financial

flexibility to build, scale and create value for our shareholders. Consequently, we entered 2019 with a strong balance sheet and

the ability to capitalize on market opportunities. As we have said in the past, we are actively pursuing potential acquisitions

that have the ability to broaden and/or strengthen our ability to serve the life sciences industry and especially those that would

enable us to provide more comprehensive support to the Biopharma market as it pushes the boundaries of medicine."

Mr. Shelton concluded, "As a result

of the strong growth in Biopharma market revenue in 2018, our revenue from the Reproductive Medicine and Animal Health markets

contributed a lesser proportion of our total revenue. However, they are solid and growing markets and we will continue to invest

in them. Our best-in-class technology for the Reproductive Medicine market has driven increased adoption of our solutions tailored

to this market's needs. In the Animal Health market, our revenue has fluctuated throughout the year as a result of fulfilling

special one-time requirements. Both markets show growing demand for our solutions and we expect to grow our presences in them,

respectively, in 2019."

Reproductive Medicine

Financial Highlights:

Further information on Cryoport's

financial results is included on the attached condensed consolidated balance sheets and statements of operations, and additional

explanations of Cryoport's financial performance is provided in Cryoport's annual report on Form 10-K for the twelve

and three-month periods ended December 31, 2018, which will be filed with the Securities and Exchange Commission ("SEC")

on March 12, 2019. The full report will be available on the SEC Filings section of the Investor Relations section of the Company's

website at www.cryoport.com.

Earnings Conference Call Information

A document titled "Cryoport 2018

Year in Review", which will provide a review of Cryoport's recent financial and operational performance and a general

business outlook, will be issued by management at 4:05 pm EST on Thursday, March 7. The document is designed to be read by investors

before the question and answer conference call and can be accessed at http://ir.cryoport.com/events-and-presentations.

Cryoport management will host a conference

call at 5:00 pm EST on March 7, 2019. The conference call will be in the format of a questions and answers session and will address

any queries investors have regarding the Company's reported results.

Conference Call Information

An archive of the webcast will be available

approximately three hours after completion of the live event and will be accessible on the Investor Relations section of the Company's

website at www.cryoport.com for a limited time. To access the replay of the webcast, please follow this link. A dial-in replay

of the call will also be available to those interested until March 14, 2019. To access the replay, dial +1 (844) 512-2921 (United

States) or +1 (412) 317-6671 (International) and enter replay pin number: 13687775.

About Cryoport, Inc.

Cryoport is the life sciences industry's most trusted global provider of temperature-controlled logistics solutions for temperature-sensitive

life sciences commodities, serving the biopharmaceutical market with leading-edge logistics solutions for biologic materials, such

as regenerative medicine, including immunotherapies, stem cells and CAR T-cells. Cryoport's solutions are used by points-of-care,

CRO's, central laboratories, pharmaceutical companies, manufacturers, university researchers et al; as well as the reproductive

medicine market, primarily in IVF and surrogacy; and the animal health market, primarily in the areas of vaccines and reproduction.

Cryoport's proprietary Cryoport Express Shippers, Cryoportal Logistics Management Platform, leading-edge SmartPak

II Condition Monitoring System and geo-sensing technology, paired with unparalleled cold chain logistics expertise and 24/7

client support, make Cryoport the end-to-end cold chain logistics partner that the industry trusts.

Cryoport is dedicated to: simplifying global cold chain logistics

through innovative technology, unmatched monitoring and data capture and support, including consulting; delivering the most advanced

temperature-controlled logistics solutions for the life sciences industry; and providing vital information that provides peace

of mind throughout the life of each logistics process.

For more information, visit www.cryoport.com. Sign up to

follow @cryoport on Twitter at www.twitter.com/cryoport.

Forward Looking Statements

in this news release which are not purely historical, including statements regarding Cryoport, Inc.'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. It is important to note that the Company'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 conditions, trends in the products

markets, variations in the Company's cash flow, market acceptance risks, and technical development risks. The Company's business

could be affected by a number of other factors, including the risk factors listed from time to time in the Company's SEC reports