CENTOGENE, a commercial-stage company focused on generating data-driven insights to diagnose, understand and treat rare diseases, closed a €15 million ($16.9 million) private placement financing from investors led by DPE Deutsche Private Equity, TVM Capital Life Science and Careventures, as well as the entry into a $45 million senior secured loan facility provided by Oxford Finance, a specialty finance firm providing senior debt to life sciences and healthcare companies.
“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,” Kim Stratton, CEO of CENTOGENE, said. “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.”
“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,” René Just, CFO of CENTOGENE, said. “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.”
“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,” Christopher A. Herr, senior managing director at Oxford Finance, said. “Through this partnership, the company is positioned to continue generating leading edge medical insights and broaden its set of biopharma and pharmaceutical partners globally.”
Moelis & Company served as CENTOGENE’s financial advisor in connection with the financings.