Centogene announced a closing of a EUR 15 million (approx. USD 17 million) private placement financing from investors led by DPE Deutsche Private Equity, TVM Capital Life Science, and Careventures (the “Private Placement Financing”), as well as the entry into a USD 45 million senior secured loan facility provided by Oxford Finance LLC, a specialty finance firm providing senior debt to life sciences and healthcare companies (the “Loan Facility”).
Kim Stratton, Chief Executive Officer of Centogene said: “We are very pleased to report today that we have secured a strong financial foundation for Centogene, which will fuel our advancement on our path towards significant value creation. We are now looking forward to expeditiously delivering on the promise of strong growth in our core business in 2022 and strengthening Centogene’s position as the unique and essential partner for patients, physicians, and biopharma in rare, metabolic, and neurodegenerative diseases.”
René Just, Centogene’s Chief Financial Officer commented: “This significant capital infusion will not only strengthen our balance sheet, but also allow us to accelerate growth and innovation and to deliver on some exciting, future value inflection milestones as outlined in our strategic plan. This financing is the result of Centogene management’s and its Supervisory Board’s comprehensive review of a wider range of financial and strategic options. Having taken all aspects into consideration and diligently addressing the financing need, we are convinced this solution maximizes the value to our stakeholders. Additionally, the debt financing minimizes dilution to our shareholders and the dual tranche structure increases our financial flexibility.”
Christopher A. Herr, Senior Managing Director at Oxford Finance said: “Centogene has built a strong position in the field of rare, metabolic, and neurodegenerative diseases by providing precise medical diagnosis at the earliest possible moment. “Through this partnership, the company is positioned to continue generating leading edge medical insights and broaden its set of biopharma and pharmaceutical partners globally.”
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