Cordlife sues rival Cryoviva for alleged infringement of intellectual property rights
Singapore-listed Cordlife Group is suing a competitor for allegedly using its proprietary information and intellectual property without Cordlife's knowledge and consent.
The cord blood stem cell banking services provider said in an filing to the Singapore Exchange on Thursday that it has begun a lawsuit in Singapore's high court against Cryoviva Singapore.
Cryoviva, established in July last year, is a joint venture between Singapore-listed Asiamedic and Cryoviva International, which is 70 per cent owned by Indian tycoon Ravi Jaipura.
Cordlife said it had sent letters of demand to Cryoviva on Jan 20 and Jan 21 before starting its lawsuit.