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Centogene N.V. (symbol: CNTG) is a leading global company in the field of genetic diagnostic testing for rare hereditary diseases. With an expansive test portfolio covering over 2,800 genes, as well as biochemical and biomarker tests, the company offers unparalleled expertise in whole exome sequencing and whole genome sequencing. Centogene's mission is to provide data-driven, life-changing answers to patients, physicians, and pharmaceutical companies by diagnosing the root causes of symptoms early on.
Centogene leverages its unique CentoMD® mutation database, integrating genetic and clinical information to deliver the highest quality genetic testing and biomarker development. This extensive database allows the company to maintain the largest systematic documentation of genetic results worldwide.
Beyond individual diagnostic services, Centogene is a pivotal partner for pharmaceutical companies, offering essential services such as early patient recruitment, epidemiological insights, biomarker discovery, and patient monitoring. The company operates in two main segments: pharmaceutical and diagnostics, serving regions including Europe, the Middle East, North America, and Latin America.
Recent achievements include the launch of innovative genomic and multiomic products, a significant joint venture in Saudi Arabia, and expanded collaborations with long-standing and new pharma partners. Despite the challenges posed by current financial markets, Centogene remains committed to growth and profitability, exploring strategic alternatives to unlock value for its stakeholders.
With ISO, CAP, and CLIA certified multiomic reference laboratories in Germany, Centogene's research and development efforts have led to over 285 peer-reviewed publications. The company's pioneering work in rare and neurodegenerative diseases has fostered collaborations with over 50 pharmaceutical partners, accelerating drug discovery and development.
To discover more about Centogene's products, pipeline, and patient-driven purpose, visit their website and follow them on LinkedIn.
Centogene N.V. (Nasdaq: CNTG) announced the results of its Extraordinary General Meeting held on February 22, 2022. Shareholders approved all proposals, including the appointments of Kim Stratton as Managing Director and Prof. Andreas Busch as Supervisory Director. Peer Schatz, the Chairman, expressed gratitude to shareholders and anticipation for the new leadership to enhance the company's strategy for patient value. Centogene focuses on rare diseases, leveraging a data-rich platform with over 600,000 patient records to innovate orphan drug development.
Centogene N.V. (Nasdaq: CNTG) has announced the resignation of Chief Financial Officer René Just, effective March 31, 2022, following the filing of its Annual Report on Form 20-F. Miguel Coego Rios has been appointed as Interim CFO and Executive Vice President of Finance & Legal, effective February 8, 2022, and will work closely with Just during the transition. Rios brings over a decade of biopharma finance experience, having previously held senior roles at Orphazyme and Mundipharma. CEO Kim Stratton praised Just's contributions in enhancing the company’s financial processes.
Centogene N.V. (Nasdaq: CNTG) announced the resignation of Dr. Andrin Oswald as CEO due to prolonged medical leave, with Kim Stratton appointed as his successor. Stratton, previously Interim CEO, will lead the company's strategic evolution to maximize stakeholder value. Dr. Oswald will remain as an advisor during the transition. This change comes amid ongoing developments in Centogene's focus on rare diseases, leveraging their proprietary data platform. The leadership transition is effective immediately and will be formalized at the next shareholder meeting.
Centogene N.V. (NASDAQ: CNTG) announced a successful financing round, securing EUR 15 million in private placement from various investors and a USD 45 million senior secured loan from Oxford Finance. This funding aims to enhance Centogene's financial stability and accelerate growth in delivering insights for rare, metabolic, and neurodegenerative diseases. The private placement involved the sale of 4,479,088 shares at USD 3.73 each, with warrants for additional shares at USD 7.72. The funds are anticipated to support substantial value creation in the company's core business.
Centogene N.V. (Nasdaq: CNTG) has nominated Prof. Andreas Busch to its Supervisory Board, pending shareholder approval at the next General Meeting. Dr. Busch brings over 20 years of pharmaceutical experience, previously serving as Chief Innovation Officer at Cyclerion and in senior roles at Shire and Bayer. His expertise is expected to enhance Centogene's partnerships with biopharmaceutical companies, particularly in rare and neurodegenerative diseases. The company aims to leverage its extensive data platform, which includes insights from over 600,000 patients globally, to accelerate orphan drug development.
Centogene N.V. (Nasdaq: CNTG) has announced a collaboration with Insilico Medicine to identify therapeutic targets for Niemann-Pick disease type C (NPC) using AI. This partnership will leverage Centogene's unique Bio/Databank, containing multiomic patient data, to accelerate drug discovery. NPC is a rare genetic disorder affecting approximately 1 in 120,000 births, with no FDA-approved treatments currently available. The collaboration is set to last for 20 weeks, aiming to validate new insights and potentially pave the way for future drug development.
CENTOGENE N.V. (Nasdaq: CNTG) has launched CentoCloud, a cloud-based SaaS platform aimed at enhancing decentralized genomic variant analysis for rare diseases. By utilizing advanced bioinformatic pipelines and a significant Bio/Databank, CentoCloud enables laboratories to generate reliable medical reports swiftly. This service addresses the increasing demand for local genetic testing, streamlining workflows, and potentially contributing to the discovery of new therapeutics. CENTOGENE’s commitment to expanding genetic testing access globally is reinforced by this initiative.
Centogene N.V. (Nasdaq: CNTG) announced that CEO Andrin Oswald, M.D., is on a temporary medical leave for at least four weeks. Kim Stratton has been named Interim CEO, bringing over 25 years of biopharmaceutical experience. The Board expressed confidence in the management team during this transition. Centogene focuses on rare diseases, leveraging a proprietary platform with data on over 600,000 patients globally. This platform aims to enhance the understanding of hereditary diseases and accelerate orphan drug development.
Centogene (Nasdaq: CNTG) reported Q3 2021 revenues of €30.2 million, down 17% from €36.3 million in Q3 2020. The Diagnostics segment saw a 43% revenue increase to €7.3 million, while Pharma revenues fell 28% to €2.7 million. COVID-19 testing revenues decreased to €20.2 million. The company is restructuring to phase out COVID-19 testing and plans to cut costs by up to €15 million annually. Cash reserves declined to €25.7 million. Centogene is optimistic about future growth in its Core Business, expecting 30-40% overall revenue growth for FY2021.
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