Cryo-Cell International Inc., a private cord blood bank, entered into a purchase contract for a newly constructed 56,000 ft2 facility located in the Regional Commerce Center in Durham, N.C. The facility will expand Cryo-Cell’s cryopreservation and cold-storage business.

The facility is being constructed to offer biologics, reagents, vaccine samples and/or entire freezer storage at cost-effective prices. An inventory management system will be implemented that will allow customers to view their own inventory through a customer portal and place distribution orders online.

According to Cryo-Cell, the facility will also introduce a service, ExtraVault, aimed at biopharmaceutical companies and healthcare institutions.