CryoPort (CYRX) has agreed to sell its CRYOPDP unit, a specialty courier focused on clinical trials, biopharma, and cell and gene therapies, to DHL Group, according to a Monday statement from the companies.
No financial terms were disclosed. The companies said they also agreed to form a strategic partnership to strengthen their supply chain services for the global life sciences and healthcare sector.
CryoPort said it also expects the partnership with DHL to support its business in the Asia Pacific and Europe, the Middle East and Africa regions.
The sale and and the partnership remain subject to regulatory approvals, according to the companies.
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