SINGAPORE: Cordlife's cord blood and human tissue banking service licences have been renewed, the company announced on Wednesday (Jan 14).
The company's cord blood banking service licence was renewed for a year, while its human tissue banking service licence was renewed for two years.
In a media release, Cordlife said it welcomes the Ministry of Health's (MOH) decision, which extends the two licences from Wednesday until 2027 and 2028.
"The licence renewal comes with conditions that were already imposed in November last year, including those relating to storage, retrieval nd disposal of existing cord blood units, and facilitating client-requested transfers," Cordlife said.
In November 2025, Cordlife was ordered to stop collecting, testing, processing or storing new cord blood, and was only permitted to maintain the storage of existing units and perform limited actions, including facilitating the transfer of existing units to other cord blood banks, and the disposal of existing units in accordance with the instructions of its clients.
Then, MOH said the imposed conditions will remain in force even if Cordlife’s licence is renewed for one year in January 2026, and until the company "demonstrates the ability to consistently meet the regulatory requirements for cord blood banking services".
Cordlife's share price jumped 18 per cent at the open on Wednesday, rising from $0.127 to S$0.15.
Shally Chen, Cordlife group executive director, Group CEO and CEO for Singapore, said: “The team has worked very hard in the last year to strengthen our operations, bring in experienced staff and retrain our existing team. We are encouraged by the progress made so far, and we thank our regulators for their guidance and encouragement."
“We are committed to complying with all conditions attached to the licences, and to eventually restore the confidence of all stakeholders in the way we conduct our services."
Ms Chen added that the conditions do not apply to its business in the other five markets in the region, noting that many of them are leaders in their respective markets.
Cordlife will continue to strengthen governance, operational controls and compliance processes, while ensuring the highest standards of safety and care for clients and families, Ms Chen said.
It emerged in November 2023 that several of Cordlife's tanks were exposed to sub-optimal temperatures, affecting thousands of cord blood units.
About 60 per cent of affected customers have accepted refunds and the company’s enhanced package, which offers five additional years of free storage and coverage and compensation of up to S$100,000 (US$77,600) for medical conditions requiring a stem cell transplant, including in situations where the units are used for siblings. The package also includes suitable replacement units, where necessary.
Cordlife said that it was still searching for a new clinical governance officer. MOH stated in November 2025 that it wanted Cordlife to replace its current clinical governance officer and review all laboratory records of the cord blood units collected since January 2025.
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The company's cord blood banking service licence was renewed for a year, while its human tissue banking service licence was renewed for two years.
In a media release, Cordlife said it welcomes the Ministry of Health's (MOH) decision, which extends the two licences from Wednesday until 2027 and 2028.
"The licence renewal comes with conditions that were already imposed in November last year, including those relating to storage, retrieval nd disposal of existing cord blood units, and facilitating client-requested transfers," Cordlife said.
In November 2025, Cordlife was ordered to stop collecting, testing, processing or storing new cord blood, and was only permitted to maintain the storage of existing units and perform limited actions, including facilitating the transfer of existing units to other cord blood banks, and the disposal of existing units in accordance with the instructions of its clients.
Then, MOH said the imposed conditions will remain in force even if Cordlife’s licence is renewed for one year in January 2026, and until the company "demonstrates the ability to consistently meet the regulatory requirements for cord blood banking services".
Cordlife's share price jumped 18 per cent at the open on Wednesday, rising from $0.127 to S$0.15.
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Shally Chen, Cordlife group executive director, Group CEO and CEO for Singapore, said: “The team has worked very hard in the last year to strengthen our operations, bring in experienced staff and retrain our existing team. We are encouraged by the progress made so far, and we thank our regulators for their guidance and encouragement."
“We are committed to complying with all conditions attached to the licences, and to eventually restore the confidence of all stakeholders in the way we conduct our services."
Ms Chen added that the conditions do not apply to its business in the other five markets in the region, noting that many of them are leaders in their respective markets.
Cordlife will continue to strengthen governance, operational controls and compliance processes, while ensuring the highest standards of safety and care for clients and families, Ms Chen said.
It emerged in November 2023 that several of Cordlife's tanks were exposed to sub-optimal temperatures, affecting thousands of cord blood units.
About 60 per cent of affected customers have accepted refunds and the company’s enhanced package, which offers five additional years of free storage and coverage and compensation of up to S$100,000 (US$77,600) for medical conditions requiring a stem cell transplant, including in situations where the units are used for siblings. The package also includes suitable replacement units, where necessary.
Cordlife said that it was still searching for a new clinical governance officer. MOH stated in November 2025 that it wanted Cordlife to replace its current clinical governance officer and review all laboratory records of the cord blood units collected since January 2025.
Continue reading...