“When exposed to suboptimal storage temperatures, the CBUs will start to thaw and the stem cells in the cord blood may be damaged. While investigations are still ongoing, a notice to stop is necessary to safeguard patients’ interest,” said MOH at the time.
CBU storage is a service offered to parents when their babies were first born. The cord blood contains stem cells known as hematopoietic stem cells, which can help treat blood diseases and some cancers, such as leukemia and lymphoma, should the baby develop these illnesses later in life.
In its announcement dated Sept 13, 2024, Cordlife said it was given notice by the MOH that it was able to resume its cord blood banking service operations in a “controlled manner”. The letter from MOH at the time stipulated that Cordlife will not be allowed to “collect, test, process and/or store more than 30 units per month of new cord blood from infant donors” from Sept 15, 2024, to Jan 13 this year.
In May 2024, Cordlife had applied stop providing services relating to haematopoietic stem cells, including bone marrow cells, under its human tissue banking service licence. On Oct 1, 2024, the company announced that MOH said that it will grant an approval for an application of the licence depending on “relevant considerations” including whether Cordlife has “satisfactorily rectified certain observations and the potential areas of non-compliance under the Healthcare Services (Human Tissue Banking Service) Regulations 2023, Healthcare Services (General) Regulations 2021 and other related licensing terms and conditions”.
See also: Sembcorp completes acquisition of additional interest in Senoko Energy, stake rises to 50%
“In the event that the company does apply to resume providing human tissue banking services relating to haematopoietic stem cells, the company will make efforts to rectify the potential areas of non-compliance and to minimise any likelihood of recurrence,” said Cordlife in its Oct 1, 2024, statement.
In its latest statement, Cordlife said that the company is not able to assess the financial impact of its results for the FY2025 ending Dec 31.
Shares in Cordlife last traded at 14.5 cents before the company called for a trading halt on the morning of Jan 14.
