Previously, Cordlife was allowed to resume its cord blood banking services on a limited basis. - Cordlife
SINGAPORE: Cordlife announced its cord blood banking service and human tissue banking service licences have been renewed by the Ministry of Health (MOH) for one year, with effect from Jan 14.
“The company is committed to meeting all applicable regulatory requirements and compliance measures, before considering the full resumption of operations in Singapore,” said Cordlife.
As such, at this stage, it is unable to assess the impact of the latest news on its financial performance for the year ending Dec 31, 2025, it added in a Singapore Exchange filing late on Tuesday (Jan 14).
Previously, Cordlife was allowed to resume its cord blood banking services on a limited basis – restricting its operations to not more than 30 units per month of new cord blood from infant donors – from Sept 15, 2024 to Jan 13 this year.
This was after follow-up audits by MOH showed that Cordlife met the requirements to resume its provision of cord blood banking services.
Cordlife’s operations were suspended in December 2023 due to lapses at its storage facility. Cryopreserved cord blood units in seven of its 22 storage tanks were exposed to suboptimal storage temperatures.
The result was that about 7,500 cord blood units were considered non-viable and unlikely to be suitable for stem cell transplants.
Shares in Cordlife jumped 11 per cent to 16.1 cents as at 9.08am on Jan 15, after the announcement. This was after the company late on Jan 14 requested for a lifting of a trading halt it called for before the stock market opened that day. - The Straits Times/ANN
