Cordlife requests trading halt following MOH order to stop collecting new cord blood
It also cannot test, process or store new cord blood
[SINGAPORE] Embattled cord-blood bank Cordlife received a notice from the Ministry of Health (MOH) to stop collecting, testing, processing and/or storing new cord blood, effective Wednesday (Nov 26).
This means that the group has been suspended from collecting new cord-blood units (CBUs).
Cordlife will be permitted only to store existing CBUs, while performing limited actions in relation to them.
These actions include facilitating the transfer of existing CBUs to other cord-blood banks, and disposal of such existing CBUs as per instructions from the group’s clients.
According to MOH, the conditions will remain in force even if the company’s licence is renewed for one year in January 2026, and until Cordlife demonstrates the ability to consistently meet the regulatory requirements for cord-blood banking services.
MOH also maintains earlier directions to the company, which include replacing its current clinical governance officer, and reviewing all laboratory records of the around 160 CBUs collected since January.
This notice of regulatory action comes with MOH’s assessment that Cordlife had not adequately addressed the concerns raised during the ministry’s mid-point audit in July, to continue providing its cord-blood banking service in a “safe, clinically and ethically appropriate manner”.
The ministry has issued a notice of intent to the group on Sep 29 regarding the intended suspension of its licence.
Cordlife had responded to the notice with written representations to MOH, it said on Oct 27. Thereafter, the ministry said the company would “require time to satisfactorily address the outstanding issues”.
Shares of Cordlife ended Wednesday flat at S$0.16. On Thursday, prior to market open, the company called for a trading halt, pending an announcement.
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