Cryoport Reports Record Revenue for Fiscal Year 2019 ---- Revenue grows 73% year over year Revenue from commercial therapies increased 295% over the prior year to $8.3 million Cryoport now supports 436 clinical trials in

Cryoport Reports Record Revenue

for Fiscal Year 2019

Revenue grows 73% year over year

Revenue from commercial therapies increased

295% over the prior year to $8.3 million

Cryoport now supports 436 clinical trials

in Regenerative Medicine marke

NASHVILLE, Tennessee, March 5, 2020 - Cryoport, Inc. (NASDAQ: CYRX) (NASDAQ: CYRXW) ("Cryoport"),

a global leader in life sciences solutions, today announced financial results for the three and twelve-month periods ended December

"We reported revenue of $33.9 million

for fiscal year 2019, an increase of 73% from fiscal year 2018," said Jerrell Shelton, Chief Executive Officer of Cryoport.

"This record revenue was driven partly by our commercial agreements supporting Gilead's YESCARTA and

Novartis' KYMRIAH , which contributed $8.3 million in the twelve-month period, an increase of 295% or $6.2

million, compared with the prior year. Revenue from our commercial agreements is expected to continue to grow throughout 2020 as

the rollouts of these lifesaving therapies accelerate. We also expect to start generating revenue from the commercial launch of

bluebird bio's ZYNTEGLO , commencing in the first quarter of 2020.

"Global Bioservices contributed $3.0

million in revenue for fiscal year 2019 as a result of the Cryogene acquisition in May 2019. We have made meaningful progress in

leveraging cross-selling opportunities and onboarded several Cryoport clients to the Cryogene platform during the second half of

2019. We expect revenue from existing clients and cross-selling opportunities to continue to drive revenue growth throughout 2020.

Mr. Shelton continued, "As we deepen

and broaden our Compliance Unified Ecosystem of global strategic alliances to better

serve our life sciences markets we are also investing in infrastructure, adding new talent to our teams, and developing new, innovative

solutions. This includes the build out of a larger Global Supply Chain Center in Morris Plains, New Jersey and a new Global Supply

Chain Center in Houston, Texas to provide global logistics and bioservices solutions to meet the growing demands for our services

and to ensure we have the scale to serve an expanded client base. Both centers are expected to be completed during the fourth quarter

"In 2019 the global regenerative

medicine market experienced significant growth, resulting in an expanding pipeline of therapies. According to the Alliance for

Regenerative Medicine, there are currently a total of 1,066 clinical trials in the Regenerative Medicine market, globally, with

381 trials in Phase I, 591 in Phase II, and 94 in Phase III. A record total of five Cryoport supported Marketing Authorization

Applications (MAA's) or Biologics Licensing Applications (BLA's) were filed during the fourth quarter of 2019. We expect

this momentum to accelerate, with approximately 10 additional Cryoport-supported MAA's and BLA's filed in 2020, based

on internal information and forecasts from the Alliance for Regenerative Medicine. These filings are anticipated to be primary

revenue drivers for Cryoport in the future as each of them requires comprehensive temperature-controlled solutions support at scale.

"During the Fourth Quarter, we added

a net total of 11 clinical trials, bringing the grand total of regenerative therapy clinical trials supported by Cryoport to a

record 436, of which 56 are currently in Phase III. We anticipate the continued expansion of the Regenerative Medicine market,

together with growth in Cryoport's market share, to drive an ongoing and significant increase in the number of clinical trials

we support," continued Mr. Shelton.

"The Reproductive Medicine market

is solid and growing, with 2019 revenue growing 34% year over year driven by increased adoption of our specialized solutions in

domestic and international markets. The Prelude Network, which is the largest network of fertility centers in the U.S., will accelerate

our growth in the Reproductive Medicine market as it rolls out our platform of temperature-controlled solutions to its entire clinical

network and its strong pipeline of prospects.

"Revenue from the Animal Health market

increased 2% year over year and is expected to accelerate in 2020 due to expansion of services to our existing base and the development

of new clients in this area. We are confident in our strategies to grow our presence in both the Reproductive Medicine and Animal

Health markets in 2020."

"In Fiscal 2019 we secured several

new client agreements and top-tier partnerships and invested in new infrastructure build. As a result, we have entered 2020 with

a strong foundation, supported by approximately $94 million in cash and short-term investments, to further drive infrastructure

build out, organic growth and acquisitions. We will continue to advance our strategy to build out our Compliance Unified Ecosystem

("CUE") within the life sciences industry by expanding both our global network and platform solutions. We believe the

Regenerative Medicine market will continue to accelerate as new life changing therapies enter clinical trials and reach commercial

approval. This is a pivotal time in Cryoport's evolution, and we are laser-focused on seizing this unique opportunity to

build value for our shareholders and bring life changing therapies to market.", Mr.

Global Logistics Solutions

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 are provided in Cryoport's annual report on Form 10-K for the twelve

months ended December 31, 2019, which will be filed with the Securities and Exchange Commission ("SEC") on March 10,

2020. The full report will be available on the SEC Filings section of the Investor Relations section of Cryoport's website

at www.cryoport.com.

Earnings Conference Call Information

IMPORTANT INFORMATION: A document

titled "Cryoport 2019 Year in Review", which will provide a review of Cryoport's recent financial and operational

performance and a general business update, will be issued by management at 4:05 pm ET on Thursday, March 5. The document is designed

to be read by investors before the questions and answers 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 ET on March 5, 2020. The conference call will be in the format of a questions and answers session and will address

any queries investors have regarding Cryoport's reported results.

Conference Call Information Conference

An archive of the question and answer

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 12, 2020.

To access the replay, dial +1 (844) 512-2921 (United States) or +1 (412) 317-6671 (International) and enter replay pin number:

About Cryoport, Inc.

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

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 through our advanced technologies, Global Supply Chain Network

and dedicated scientists, technicians and supporting team of professionals. Through purpose-built proprietary packaging; information

technology; smart, sustainable cold chain logistics; and biostorage/biobanking services, Cryoport helps its customers advance life

sciences research, support life-saving advanced therapies and deliver vaccines, protein producing materials, and IVF treatments

in over 100 countries around the world. For more information, visit www.cryoport.com or follow @cryoport on Twitter at www.twitter.com/cryoport

Forward Looking Statements

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 including,

but not limited to, the Company's 10-K for the year ended December 31, 2019 filed with the SEC. The Company cautions investors

not to place undue reliance on the forward-looking statements contained in this press release. Cryoport, Inc. disclaims any obligation,

and does not undertake to update or revise any forward-looking statements in this press release.