CryoXtract Forms Agreement with German Cryo to Expand Distribution in Europe

CryoXtract Instruments LLC, a leader in bioanalytical solutions, is pleased to announce the addition of German Cryo to its growing list of distributors. This agreement will further CryoXtract’s efforts to expand its presence in Europe amidst growing interest in its frozen aliquotting systems by drug development researchers in biotech and pharmaceutical companies, as well as by microbiome researchers who are exploring applications in the health, pharmaceutical and food industries.

German Cryo, based near Dusseldorf in Jüchen, Germany, will be representing CryoXtract as a distributor in Germany, Austria, Switzerland and Poland. German Cryo also supplies nitrogen containers, freezers and other components for the cryopreservation industry.

CryoXtract’s frozen aliquotting technology offers automated laboratory solutions to protect and preserve the integrity of valuable frozen samples for basic research and clinical research and development. The company’s flagship products include the CXT 750 and CXT 350 series of frozen aliquotters.

"We are excited to partner with CryoXtract. This agreement will allow us to build upon our expertise in cryogenics and freezer solutions while expanding relationships with biobanks and other markets,” said German Cryo General Manager Thomas Henne. "We’re excited to offer instruments that help process frozen samples in areas such as biomedical research, drug discovery and the food and beverage industries, where CryoXtract’s technology plays a critical role.”

CryoXtract is also pleased to appoint Jay Champaneri as European Sales Manager. Champaneri’s track record of success is highlighted by his exemplary management of supply partner relationships and customer service within the laboratory instrumentation, assay reagents, and consumables markets in drug discovery and bioscience research. With particular expertise in the areas of cell biology, proteomics, genomics, imaging, and HTS/HCS, Mr. Champaneri’s scientific acumen will be a strong asset in helping CryoXtract meet its growth goals overseas.

Europe is one of the largest growth areas in the life sciences market and a hub for leading microbiome research. CryoXtract’s technology is particularly suited to streamlining the processing and handling of challenging sample types used in microbiome studies such as feces and meconium. CryoXtract also has strong relationships with leading microbiome research facilities and biobanks, including the French government through MetaGenoPoliS (MGPS) and the Integrated Biobank of Luxembourg (IBBL).

"This collaboration with German Cryo is a key element of CryoXtract’s broader strategy to expand into growth areas,” said Dan Espinal, CryoXtract Chief Executive Officer. "Having a distributor in this important region will allow us to work closely with researchers and pharmaceutical companies on the forefront of sample testing for clinical trials, and we are excited to offer our technology and solutions.”

In addition to the U.S. and Europe, CryoXtract serves customers in countries including China, Japan, Korea, Singapore, New Zealand and Australia.

For more information on CryoXtract, visit www.cryoxtract.com

About CryoXtract Instruments, LLC
CryoXtract develops and commercializes automation solutions that allow for the retrieval of multiple frozen samples from a single frozen biospecimen without exposing the source to the deleterious biological impact from freeze/thaw cycling. The company's automation technology system improves frozen biosample processing, protects the viability of frozen biosamples after cores have been extracted, improves lab efficiencies and economics, and helps optimize scientific outcomes. CryoXtract is a subsidiary of Boston-based Allied Minds, Inc. For more information, please visit www.cryoxtract.com.

About German Cryo
German Cryo, based near Dusseldorf in Jüchen, Germany, provides high-quality nitrogen containers and cryotechnic accessories to the cryogenic field. The company offers a multitude of products and services to meet the needs of cryobanks, laboratories and others in the industry. For more information, visit www.german-cryo.de.

About Allied Minds
Allied Minds (LSE: ALM) is an innovative U.S. science and technology development and commercialization company. Operating since 2006, Allied Minds forms, funds, manages and builds products and businesses based on innovative technologies developed at leading U.S. universities and federal research institutions. Allied Minds serves as a diversified holding company that supports its businesses and product development with capital, central management and shared services. More information about the Boston-based company can be found at www.alliedminds.com.

Allied Minds Forward-Looking Statement
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