Cordlife

Cordlife: Cordlife entered into a licensing agreement with its 31.8%-owned associate StemLife, to jointly explore and develop umbilical cord tissue-related services based on cellular technology in Malaysia. In relation, StemLife will obtain a 3-year sub-licence from Cordlife for an upfront sum of $1m to use Cordlife's CRC technology to collect, store and exploit umbilical cord tissue for its Malaysian clients, with additional fees attached for each of the three services used. For instance under the sub-licensing agreement, Cordlife will receive: - $120-240 for each tissue verification and biomarker testing service - 15% royalty fee on revenue received for cord tissue storage - $1,400-5,900 for each cord tissue culturing service The cooperation with StemLife should further stem Cordlife's footprint in Malaysia and extract economies of scale and intensify revenue generation by cross selling new products.