CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, Dec. 16, 2020 (Globe NEWSWIRE) — Centogene N.V. (Nasdaq: CNTG) (“CENTOGENE” or the “Company”), a professional-stage business concentrated on rare disorders that transforms actual-entire world clinical and genetic info into actionable facts for clients, doctors, and pharmaceutical providers, today offered an update on its corporate development and noted its economic effects for the three and nine months ended September 30, 2020.
- Revenues amplified 212% as opposed to Q3 2019, pushed by the ongoing enlargement of our COVID-19 tests supplying
- Enhanced 2020 comprehensive-calendar year earnings steering to more than €100 million
- Ongoing growth of new pharma partnerships, with 12 new offers signed and a strong recovery predicted in 2021
- Enlargement of professional COVID-19 tests, which now consists of antigen testing
- Introduced management transition and appointment of Dr. Andrin Oswald as Main Govt Officer to assist the up coming phase of the Company’s advancement
Andrin Oswald, M.D., Main Govt Officer at CENTOGENE, said, “I am thrilled to have joined CENTOGENE at this kind of an significant phase in the Company’s evolution. Whilst I have only been with CENTOGENE for a handful of weeks, it is apparent to me that our total workforce is concentrated on accomplishing a typical target of assisting scarce disease people close to the planet. We believe that that our mission has the opportunity to drastically lessen the burden of exceptional conditions – and features an enjoyable worth generation opportunity for our stakeholders at the exact time. Leveraging extra than 20 years of expert working experience across the daily life sciences, like my time at Novartis and the Monthly bill and Melinda Gates Foundation, I am hunting forward to serving to more scale and speed up CENTOGENE’s development as a leader in the exceptional illness house.”
Richard Stoffelen, Chief Economical Officer at CENTOGENE, mentioned, “During the 3rd quarter, we noticed a important improve in our revenues, year-above-yr, driven by our capability to leverage our core competency in precise healthcare diagnoses to pivot speedily and provide solutions to enable handle the COVID-19 pandemic. As we technique the stop of what has been an unparalleled year, I would like to thank the whole CENTOGENE staff at the time more for their flexibility and unwavering commitment.”
A Reliable Basis for 2021
CENTOGENE has leveraged its core competency of supplying exact health care diagnoses, as perfectly as its infrastructure, to enable prevent even more outbreaks of SARS-CoV-2 (COVID-19) in the course of 2020. As component of this initiative, CENTOGENE has turn into a person of the greatest COVID-testing organizations in Europe and designed a revolutionary and main part in providing tests providers at airports. The beneficial fiscal contribution from COVID-19 tests will enable the Organization to make strategic investments to more solidify its main situation in the rare disorder place. The selection of Pharma partnership conversations have also continued to enhance because Q2 2020, positioning CENTOGENE for even more development in 2021.
Additional data on the Company’s Q3 2020 Earnings, including the management’s dialogue and evaluation of money condition and outcomes of functions, can be found by viewing EDGAR on the SEC site at www.sec.gov, as nicely as the Investor Relations webpage of the Company’s web-site at http://investors.centogene.com.
CENTOGENE engages in prognosis and analysis around uncommon illnesses transforming authentic-planet clinical and genetic facts into actionable details for individuals, medical professionals, and pharmaceutical corporations. Our target is to deliver rationality to procedure choices and to accelerate the advancement of new orphan drugs by applying our comprehensive uncommon ailment knowledge, together with epidemiological and medical facts, as nicely as ground breaking biomarkers. CENTOGENE has designed a international proprietary scarce illness system centered on our true-environment information repository with in excess of 3.6 billion weighted facts points from somewhere around 595,000 patients symbolizing more than 120 different nations as of September 30, 2020.
The Company’s platform involves epidemiologic, phenotypic, and genetic facts that reflects a international inhabitants, and also a biobank of these patients’ blood samples. CENTOGENE believes this represents the only system that comprehensively analyzes multi-level facts to make improvements to the comprehension of unusual hereditary disorders, which can aid in the identification of individuals and boost our pharmaceutical partners’ ability to bring orphan prescription drugs to the market. As of September 30, 2020, the Corporation collaborated with more than 40 pharmaceutical companions masking around 45 unique rare conditions.
Vital Detect and Disclaimer
This press release incorporates statements that represent “forward-looking statements” as that expression is defined in the United States Private Securities Litigation Reform Act of 1995, which includes statements that convey the Company’s thoughts, anticipations, beliefs, ideas, goals, assumptions, or projections with regards to long run events or long run outcomes, in contrast with statements that replicate historical details. Examples consist of discussion of our strategies, financing programs, advancement prospects, and marketplace development. In some situations, you can recognize this kind of forward-searching statements by terminology such as “anticipate,” “intend,” “believe,” “estimate,” “plan,” “seek,” “project” or “expect,” “may,” “will,” “would,” “could,” or “should,” the destructive of these phrases or very similar expressions. Forward-wanting statements are based mostly on management’s latest beliefs and assumptions and on information now readily available to the Company. Having said that, these ahead-looking statements are not a ensure of our efficiency, and you must not position undue reliance on these statements. Ahead-looking statements are issue to numerous pitfalls, uncertainties, and other variable circumstances, this sort of as damaging throughout the world economic conditions and ongoing instability and volatility in the around the world monetary markets, the consequences of the COVID-19 pandemic on our organization and success of operations, doable alterations in recent and proposed legislation, laws and govern-psychological policies, pressures from raising competitiveness and consolidation in our marketplace, the price and uncertainty of regulatory approval, which includes from the U.S. Food and Drug Administration, our reliance on third events and collaboration companions, including our means to take care of progress and enter into new shopper interactions, our dependency on the rare disease sector, our skill to manage global expansion, our reliance on crucial personnel, our reliance on mental assets security, fluctuations of our running effects thanks to the influence of exchange rates, or other components. These kinds of hazards and uncertainties may perhaps result in the statements to be inaccurate and readers are cautioned not to put undue reliance on such statements. Quite a few of these risks are outside of the Company’s handle and could trigger its genuine final results to differ materially from individuals it assumed would come about. The ahead-searching statements involved in this push release are built only as of the date hereof. The Business does not undertake, and exclusively declines, any obligation to update any this kind of statements or to publicly announce the benefits of any revisions to any these statements to mirror upcoming activities or developments, except as necessary by regulation.
For even further info, remember to refer to the Possibility Components part in our Yearly Report for the 12 months ended December 31, 2019, on Sort 20-F filed with the SEC on April 23, 2020, Form 6-K that contains our economic effects for the 3 months ended March 31, 2020, furnished to the SEC on June 15, 2020, Sort 6-K that contains our monetary benefits for the three and 9 months ended September 30, 2020, furnished to the SEC on December 16, 2020, and other latest experiences and documents furnished to or filed with the U.S. Securities and Exchange Commission (SEC). You may get these paperwork by browsing EDGAR on the SEC web-site at www.sec.gov.