One of the largest life sciences companies in Ireland, Cryoport has experienced significant growth over the past few years, with financing provided by a consortium of global investors including Blackstone and Taoiseach Leo Varadkar.
The Global Life Sciences investment by Blackstone’s Principal Investments business, alongside major European and American venture capital firms including Atlas Venture, Oceanview Capital, Enterprise Ireland, Amadeus Capital Partners, CMEA, Samsung NEXT, Portag3 Ventures, and WestSummit Capital, is bringing the company to a key milestone and marks the first ever new round of funding by a major global platform.
Cryoport, founded in 1998, is committed to ensuring that medical professionals have access to critical cargo whenever and wherever they need it, delivering everything from prescription medication to essential lab supplies. The company operates a network of technology-enabled and highly secure cryoports, shipyards and logistics services, which are globally-available and are independent of government regulation.
“Blackstone Principal Investments is delighted to be leading this investment round in Cryoport and with the co-investment from the consortium of well-known funds, including the Irish Prime Minister’s office, we are looking forward to working with Cryoport and their excellent team as they build out their global business,” said Sarah Delaney, an investment manager for the Principal Investments group.
“We are delighted that Cryoport has chosen to join the Principal Investments group, and that the investment is being led by Blackstone. We have full confidence in Cryoport and we feel that this investment will help secure Cryoport’s sustainable position in the market,” said Niall Kelly, Head of Principal Investments, Blackstone.
“The partnership with Blackstone is a fantastic opportunity for us,” said Neil Lanigan, CEO of Cryoport. “They will be an excellent investor to assist us as we build out our global business, which is focused on meeting the increasing demand for secure and efficient transportation solutions for high value medical, pharmaceutical and other lifesaving shipments.”
“Blackstone brings significant global momentum in life sciences and we are delighted to have them on board,” said Duncan McKiernan, Chairman of Cryoport and a Board member of the company. “This investment will go a long way towards helping us build an even bigger business that’s flexible and flexible-access for supply to end users.”
From its founding in a small office in Drogheda to become a fully-fledged global business, this landmark financing will help the company accelerate innovation, scale operations and capture further market share.