Cryoport Revenue Grows 65% for First Quarter 2019 ---- Commercial revenue rises to 25% of total biopharma revenue; 383 clinical trials supported

Cryoport Revenue Grows 65% for

Commercial revenue rises to 25% of total

383 clinical trials supported

IRVINE, California, May 2, 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-month period ended March 31, 2019.

Jerrell Shelton, Chief Executive Officer of Cryoport stated,

"Our revenue increased 65% to $6.7 million for the three-month period ended March 31, 2019, compared with the same period

in the prior year. Revenue from our commercial agreements supporting Gilead's Yescarta and Novartis'

Kymriah was $1.4 million in the First Quarter of 2019, representing a 374% increase compared with the same

quarter last year and a sequential increase of 74% over the Fourth Quarter of 2018. We continue to work in lockstep with Gilead

and Novartis to increase market penetration and help their respective, much-needed CAR-T cell therapies safely reach patients around

the world. Our commercial revenue from these agreements were driven by the advancement of the rollouts in the Americas and EMEA

(Europe, Middle East, and Africa) regions.

"We now support 383 clinical trials, up from 261 for the

same quarter last year and representing a net gain of 26 over the Fourth Quarter of 2018. As the regenerative market continues

to grow, we continue to secure new agreements with world-leading regenerative medicine companies in all geographic regions. As

examples, Celularity, a placental-based allogeneic cell therapy company, recently selected Cryoport's complete range of temperature-controlled

solutions to support its clinical trials and Biokin Pharma, a China-based biopharmaceutical company, partnered with Cryoport for

its pending Phase I and II clinical trials in immuno-oncology in both the U.S. and China. We think this momentum will continue

to drive accelerated revenue growth throughout the remainder of 2019 as we secure new agreements and our clients' clinical

pipelines continue to advance. Examples of other market drivers include the following: Subsequent to the quarter end, the FDA agreed

to a rolling review of Mesoblast's Biologics License Application (BLA) for its cell therapy for children with steroid-refractory

acute graft versus host disease (aGVHD). Secondly, in the United States, the Centers for Medicare and Medicaid ("CMS")

stated they are considering several changes to payment policies for CAR-T in 2020 to drive improved patient access to these much-needed

therapies. CMS also confirmed that CAR-Ts will continue to be eligible for New Technology Add-on Payment (NTAP) and that it would

increase NTAP from 50% of the cost of the therapy to 65%. The current maximum NTAP is $186,000 and they are recommending it be

increased to $242,450.

"To meet current and future

global demand from our Biopharma clients both in clinical and commercial stages, we are building a Global Logistics Network. Today

we have four Global Logistics Centers and one Embedded Logistics Center. Our new Global Logistics Centers in New Jersey and The

Netherlands are ramping revenue significantly, which we expect to continue throughout 2019. By focusing on establishing a networked

presence in leading life sciences hubs around the world, driven by client activity, we believe we are strategically positioning

the Company at the core of the growth which will take place in the global cellular therapy market and which will drive significant

revenue growth for Cryoport.

"In addition to the fast-growing opportunities in the

Biopharma market, we are strengthening our growth strategies in the Reproductive Medicine and Animal Health markets, both of which,

we believe, have considerable upside opportunity. For our first quarter of 2019, revenue from Reproductive Medicine increased 56%

year over year, as a result of our marketing initiatives and growing brand recognition in this market, driving stronger demand

in the Americas and EMEA.

"In closing, we are working diligently to continue to

support our clients with the most

sophisticated and reliable temperature-controlled solutions

in the life sciences industry, to build on our client base across all our markets and, of course, to build value for our long-term

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 quarterly report on Form 10-Q for the three-month period ended March 31,

2019, which will be filed with the Securities and Exchange Commission ("SEC") on May 8, 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

IMPORTANT INFORMATION: A document titled "Cryoport

First Quarter 2019 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, May 2. 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 May 2, 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 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 May 9, 2019. To access the replay, dial +1 (844) 512-2921

(United States) or +1 (412) 317-6671 (International) and enter replay pin number: 10006692.

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.

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, 2018 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.

Cryoport Investor Contacts:

Todd Fromer / Elizabeth Barker

KCSA Strategic Communications

tfromer@kcsa.com / ebarker@kcsa.com

Cryoport Inc. and Subsidiaries

Consolidated Statements of Operations