Cryoport, Inc. entered an agreement to acquire CRYOPDP, a provider of temperature-controlled logistics solutions to the clinical research, pharmaceutical and cell and gene therapy markets, headquartered in Paris, in a cash transaction valued at approximately €49 million.

The acquisition will expand Cryoport’s global supply chain network and services with more than 220 employees located in 22 global facilities in 12 countries. CRYOPDP generated more than €42 million of revenue in 2019. The acquisition is expected to close within 60 days, subject to customary closing conditions. 

Upon completion of the acquisition, CRYOPDP will provide synergies with Cryoport’s operating entity, Cryoport Systems, and expands its geographic footprint and infrastructure in Europe, the Middle East and Africa (EMEA) and the Asia Pacific (APAC) regions.

In conjunction with Cryoport Systems’ Cryoportal Logistics Management Platform, CRYOPDP’s complementing UnITy ITSM platform will create an integrated global logistics solution for full visibility, control and integrity of the “chain of custody” and “chain of condition”. This unified global capability falls into Cryoport’s Chain of Compliance, which is part of Cryoport’s efforts to de-risk the life sciences supply chain processes for clients.