Cordlife

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Cordlife Group Limited
Type Public
Traded as CLGL SP (Bloomberg); P8A.SI (Reuters)
Industry Health Care Services
Founded May 2, 2001
Headquarters Singapore
Area served Singapore, Hong Kong, India, Indonesia, The Philippines (under Cordlife brand); China, Malaysia and Thailand (under other brands through investment stake)
Key people

Ho Choon Hou (Chairman)

Yee Pinh Jeremy (CEO)
Products Cord blood banking, cord lining banking, metabolic screening and other products catering to the mother & child segment
Revenue S$49.1 million (FY2014)
Net income S$30.4 million (FY2014)
Total assets S$190.7 million (FY2014)
Total equity S$141.3 million (FY2014)
Employees 538 (FY2013)
Website www.cordlife.com

Incorporated in May 2001,[1] Cordlife Group Limited ("Cordlife"), is a multi-product healthcare company catering to the mother and child segment and a provider of cord blood and cord lining banking services. It provides cord blood banking services in Singapore, Hong Kong, India, Indonesia and the Philippines.

In addition, Cordlife has a 10%[2] direct stake in China Cord Blood Corporation ("CCBC"), a cord blood bank operator in China holding majority shares in the Beijing, Guangdong and Zhejiang Cord Blood Banks, and an approximately 24% share in Shandong Cord Blood Bank. In October 2013, Cordlife acquired a 19.92% stake, which was subsequently increased to approximately 31.81%[3] in December 2013, in StemLife Berhad. Currently listed on the ACE Market of Bursa Malaysia, StemLife is a fully licensed cord blood banking facility with the Ministry of Health Malaysia.

Cordlife has been accredited since 2005 by AABB[4] (formerly known as the American Association of Blood Banks), an association involved in the field of transfusion medicine and cellular therapies.

History[edit]

2014-2012[edit]

  • Extended its strategic alliance and co-operation with CordLabs Asia Pte. Ltd. and CCBC in relation to the provision of human postnatal cord lining storage services to certain territories in the People's Republic of China in March 2014[5]
  • Acquired a 19.92% stake in StemLife in October 2013, which was subsequently increased to approximately 31.81% in December 2013, in StemLife Berhad.[3]
  • Signed a non-binding term sheet with NYSE-listed China Cord Blood Corporation to jointly explore and develop new services based on cellular technologies in November 2013[6]
  • The Group's Indian subsidiary, Cordlife Services (India) Pvt. Ltd., introduced a metabolic screening service known as Metascreen in October 2013[7]
  • Signed a non-binding Memorandum of Understanding with Golden Meditech Holdings Limited in respect of a proposed joint venture in the Shanghai Free Trade Pilot Zone in October 2013 [8]
  • Launched provision of cord lining banking services in Singapore in May 2013 under its wholly owned subsidiary, Cordlife Technologies Pte Ltd.[9]
  • India facility accredited by AABB in July 2013[10]
  • Completed the acquisition of the cord blood and cord lining banking businesses and assets in India, the Philippines, Hong Kong and Indonesia from Australia-listed Life Corporation Limited (formerly known as Cordlife Limited) in June 2013[11]
  • Cordlife moved to its fully owned, 23,000 square feet office and laboratory facility in A'Posh Bizhub, Yishun[12]
  • Acquired 10% of CCBC and disposed 10% indirect equity stake in Guangzhou Tianhe Nuoya in December 2012[2]
  • Listed on Mainboard of SGX-ST on March 29, 2012[13]

2011-2008[edit]

  • Released a cord blood unit for treatment of neuroblastoma in Hong Kong in January 2011[14]
  • Launched provision of cord lining banking services in Hong Kong in March 2011[15]
  • Cordlife demerged from Cordlife Limited on June 30, 2011; entered into Rights Of First Refusal (ROFR) agreement to acquire relevant businesses in Indonesia, the Philippines and India[15]
  • Hong Kong facility accredited by AABB in October 2011[15]
  • Released a cord blood unit for treatment of neuroblastoma in Singapore in March 2010[14]
  • Cordlife Hong Kong and 10% indirect stake in Guangzhou Tianhe Nuoya were transferred to the Group in 2010[15]
  • On October 30, 2009, Cordlife Limited invested in a 10% indirect equity stake in Guangzhou Tianhe Nuoya, a company engaged in providing cord blood banking services in Guangdong province[15]
  • Released a cord blood unit for cerebral palsy in Singapore in September 2009[14]
  • Launched Singapore facility in April 2008 at Science Park II[15]

2007-2001[edit]

  • Cygenics Limited was renamed Cordlife Limited ("CBB") in June 2007[15]
  • Cordlife Hong Kong achieved ISO:9001 in August 2007[15]
  • Entered Hong Kong and the PRC markets, Cordlife began operating through Cordlife Hong Kong in March 2005[15]
  • Singapore facility obtained its AABB accreditation in September 2005[15]
  • Holding company Cygenics Limited listed on Australian Securities Exchange in June 2004[15]
  • Merged with Cytomatrix LLC in April 2003[15]
  • Cordlife received licence to operate from Ministry of Health, Singapore in June 2002[15]
  • Company incorporated on May 2, 2001[15]

Products and services[edit]

Cord blood banking[edit]

Cord blood banking[16] refers to the collection at birth, processing, testing, cryopreservation and storage of stem cells from the umbilical cord blood. Cord blood, also called "placental blood", is blood that remains in the umbilical cord and placenta following the birth of a baby and after the umbilical cord is cut. During pregnancy, the umbilical cord functions as a lifeline between mother and child. After a baby's delivery, the cord blood present in the umbilical cord could offer hope for the child or members of the family. Cord blood is a rich source of haematopoietic stem cells (HSCs), which are primarily responsible for replenishing blood and regenerating the immune system.

Cordlife has already launched cord blood banking services in the following countries: Singapore, Hong Kong, India, Indonesia and the Philippines.

Cord lining banking[edit]

Cord lining banking[17] refers to the collection, processing, testing, cryopreservation and storage of the lining from an umbilical cord. After the baby is delivered, the umbilical cord is cut and normally discarded with the placenta as medical waste until researchers became aware of its medical potential.

Cord lining contains both Epithelial (EpSCs) and Mesenchymal stem cells (MSCs). EpSCs form the soft tissues that connect, support, or surround other structures and organs of the body including cornea, skin, and liver. MSCs are the building blocks of structural tissues of our body such as bone, cartilage, muscle, fibrous tissues and fat.

Cordlife has already launched cord lining banking services in the following countries:

  • India in 2010[10]
  • Hong Kong in March 2011[15]
  • Singapore in May 2013[9]
  • Philippines in August 2013[18]

Newborn metabolic screening[edit]

Newborn metabolic screening[19] screens for inborn errors of metabolism from urine samples that can impact the health of newborns. Metabolic disorders are usually not apparent at the time of birth. If left undiagnosed and untreated, the baby can suffer from neurological impairment and physical deformities.

Cordlife has already launched this newborn metabolic screening test (Metascreen) in the following countries:

  • India in 2013[7]
  • Hong Kong in 2014[20]

International operations[edit]

Singapore[edit]

Cordlife Singapore[21] is the country’s first private cord blood bank and the corporate headquarters of the Group. Situated at A’Posh Bizhub, Yishun, Cordlife Singapore’s fully owned 23,000 square feet processing and storage facility has a storage capacity of up to 650,000[21] cord blood units. Since 2005, Cordlife Singapore has been accredited by AABB.[4] To date, Cordlife Singapore has successfully released seven[22] cord blood units to its clients. In May 2013, Cordlife Technologies Pte Ltd (“CTPL”), a wholly owned subsidiary of the Group, launched cord lining banking service in Singapore.[9]

Hong Kong[edit]

Launched in 2005, Cordlife (Hong Kong) Limited (“Cordlife Hong Kong”) is a wholly owned subsidiary of the Group. Cordlife Hong Kong moved into a new facility at the Hong Kong Science Park in 2010.[15] The AABB & ISO certified facility has a storage capacity for 50,000[23] cord blood and umbilical cord units. In January 2011,[23] Cordlife Hong Kong became the only private cord blood bank in Hong Kong to have released a cord blood unit for autologous (with one's own stem cells) transplantation to aid the treatment of neuroblastoma. In March 2011,[15] Cordlife Hong Kong introduced CellOptima, a patented cord lining stem cell technology to extract Mesenchymal stem cells (MSCs) and Epithelial Stem Cells (EpSCs) from umbilical cord.. In 2014,[20] Cordlife Hong Kong launched Metascreen, a newborn metabolic screening service, in Hong Kong.

Indonesia[edit]

Cordlife Indonesia has been providing cord blood processing and cyropreservation service to families in Indonesia since 2003.[24] In October 2007,[25] Cordlife Indonesia opened the first and only DEPKES licensed private cord blood banking facility in Indonesia. Located in Jakarta, Cordlife Indonesia’s ISO-certified processing and storage facility has a storage capacity of 30,000[26] cord blood units.

India[edit]

Cordlife Group owns a majority interest (85%[11]) in Cordlife Sciences (India) Pvt. Ltd., (“Cordlife India”) through its wholly owned subsidiary CS Cell Technologies Pte. Ltd. Established in Kolkata, Cordlife India's cord blood facility has a storage capacity of up to 150,000[27] cord blood units. In July 2013,[4] Cordlife India attained accreditation from AABB, an international, not-for-profit association representing individuals and institutions involved in the field of transfusion medicine and cellular therapies. The facility is also certified by ISO 9001:2008.[10] In 2011,[28] Cordlife India successfully released a stem cell unit for the first ever mixed stem cell transplant in India. Cordlife India introduced an advanced non-invasive newborn metabolic screening test called Metascreen in India in October 2013.[7]

The Philippines[edit]

Cordlife Group owns a 99.99%[11] interest in Cordlife Medical Phils., Inc. (“Cordlife Philippines”), through its wholly owned subsidiary CS Cell Technologies Pte. Ltd. Registered with the Department of Health, Cordlife Philippines' ISO-certified AABB[4]-accredited facility cord blood processing and cryopreservation facility was officially launched in February 2010 with a storage capacity for 20,000[29] cord blood units. In August 2013,[18] Cordlife Philippines officially launched its newest service, umbilical cord lining banking.

China[edit]

Cordlife Group owns a 10%[2] interest in NYSE-listed China Cord Blood Corporation (“CCBC”). CCBC[30] is the largest cord blood banking operator in China, with access to 4 of the 7 authorized cord blood banking licenses: Beijing, Guangdong, Zhejiang and Shandong. On 3 March 2014,[5] Cordlife announced that it has signed a strategic alliance agreement with Cordlabs Asia (“CAP”) and China Cord Blood Corporation to expand cord lining storage services to certain territories in the PRC.

Malaysia[edit]

Malaysia cord blood banking operator StemLife is an associate company of Cordlife Group. Cordlife Group acquired a 19.92% stake in StemLife in October 2013, which was subsequently increased to approximately 31.81%[3] in December 2013. Incorporated in 2001,[31] StemLife is the first stem cell banking and therapeutics company in Malaysia. StemLife is currently listed on the ACE Market of Bursa Malaysia. StemLife operates its own 24-hour processing, testing, and cryopreservation facility in central Kuala Lumpur, Malaysia.

References[edit]

  1. ^ Cordlife Website, Corporate Profile
  2. ^ a b c The Business Times, "Cordlife to buy 10% of China Cord", 16 August 2012
  3. ^ a b c The Straits Times, "Cordlife raises stake in Malaysia-listed firm StemLife to 31.81 per cent", 9 December 2013
  4. ^ a b c d AABB Website, "AABB Accredited Cord Blood (CB) Facilities"
  5. ^ a b The Straits Times, "Cordlife Group in strategic alliance to provide umbilical cord tissue storage in China", 3 March 2014
  6. ^ Cordlife Press Release, "Cordlife Partners With China Cord Blood Corporation To Introduce Services Based On Cellular Technologies", 11 November 2013
  7. ^ a b c India Infoline News Service, "Cordlife launches MetaScreen Metabolic Screening Service", 22 November 2013
  8. ^ Cordlife Press Release, "Cordlife Partners With Golden Meditech To Expand Product Presence In China", 17 October 2013
  9. ^ a b c Cordlife Press Release, "Cordlife & Thomson Medical Launch The First Umbilical Cord Tissue Banking Services In Singapore", 9 May 2013
  10. ^ a b c Cordlife Press Release, "Cordlife India Obtains AABB Accreditation"
  11. ^ a b c Cordlife Press Release, "Cordlife Completes Acquisition of Cord Blood and Cord Tissue Banking Businesses and Assets in India, The Philippines, Hong Kong and Indonesia", 28 June 2013
  12. ^ Cordlife Press Release, "Cordlife's 9M2013 Net Profit More Than Doubles To S$9.7 Million", 13 May 2013
  13. ^ Bizdaily, "SGX SEES 13 MAINBOARD IPOS IN 2012", 21 December 2012
  14. ^ a b c Cordlife Singapore Website, "Cord Blood Release Track Record"
  15. ^ a b c d e f g h i j k l m n o p q Cordlife IPO Prospectus dated 21 March 2012
  16. ^ Cordlife Website, "About Cord Blood",
  17. ^ Reza, H. M. (2011). Characterization of a novel umbilical cord lining cell with CD227 positivity and unique pattern of P63 expression and function. Stem Cells Reviews and Reports, 7(3), 624-638
  18. ^ a b Smart Parenting Philippines, "Cordlife Philippines Launches Affordable Umbilical Cord Banking Services", 3 September 2013
  19. ^ Centers for Disease Control and Prevention Website, "Newborn Screening"
  20. ^ a b Metascreen Hong Kong, Profile
  21. ^ a b The Business Times, "Cordlife's CEO runs a tight ship", 27 November 2013
  22. ^ Maybank Research, "The Cords That Bind", 1 July 2013
  23. ^ a b Parent's Guide to Cord Blood Foundation Website, Cordlife Hong Kong
  24. ^ Asia Bio Tech Industry Watch, "CyGenics Asian Healthcare Presence Expanded in Indonesia", 2006
  25. ^ Emerald Emerging Markets Case Studies, “One life, one chance”: Cordlife Sciences India Pvt. Ltd. Preserving the precious gift
  26. ^ Departemen Kesehatan Republik Indonesia, "Minister of Health Opens Umbilical Cord Blood Bank Cordlife Indonesia", 5 October 2007
  27. ^ SBWire, "CordLife India Offers Most Advanced Cord Blood Facility with CordLife Quality Guarantee", 10 July 2012
  28. ^ Express Healthcare, "India’s First Successful Mixed Stemcell Transplant From CordLife", June 2011
  29. ^ PhilStar, "Saving the cells that count", 16 March 2010
  30. ^ China Cord Blood Corporation, Corporate Presentation, March 2014
  31. ^ StemLife Malaysia, Corporate Profile

External links[edit]