Core Insights - Centogene N.V. has entered into agreements with Lifera, resulting in a $15 million purchase of accounts receivables and an increased investment in their joint venture, totaling approximately $20 million to support growth and profitability [1][2] Financial Position - The transaction enhances Centogene's financial position and liquidity, aiding in operational and strategic initiatives [2] - The company aims to achieve EBITDA breakeven by the end of 2024 and is on track to meet this target [2] Transaction Details - Lifera's financing is based on Centogene's assets, including accounts receivables, with adjustments to a previously announced $30 million convertible loan, extending it to 24 months and allowing a portion to convert at $0.79 [3] Company Overview - Centogene focuses on providing data-driven solutions for rare and neurodegenerative diseases, integrating multiomic technologies with its Biodatabank to enhance precision medicine [5][6] - The company has built a network of approximately 30,000 active physicians and has over 850,000 patients represented in its Biodatabank, contributing to over 300 peer-reviewed publications [6] Collaborations and Impact - Centogene has supported over 50 collaborations with pharmaceutical partners, facilitating drug discovery and development [7]
CENTOGENE Secures Approx. $20 Million to Strengthen Cash Position