Cryoport (NASDAQ:CYRX), a cryogenic logistics company, announced on Wednesday it has entered into a strategic partnership with Worthington Industries (NYSE:WOR), maker of cryogenic storage vessels and equipment.
Through this partnership, Worthington's CryoScience by Taylor Wharton business will design and manufacture biostorage and logistics equipment for use in Cryoport's life sciences cryogenic logistics solutions.
Cryoport's proprietary cold chain logistics solutions protect frozen life sciences commodities from adverse thermal excursions during clinical development through commercial manufacture - thereby increasing success in transport, storage and efficacy.
Through its recently-acquired CryoScience by Taylor Wharton product line, Worthington manufactures cold chain storage and transport vessels and equipment that provide critically reliable transportation of biological commodities.
Cryoport shares were up 15.2% at $2.50. Worthington shares were up 1.2% at $37.19.