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Centogene Files to Go Public in US

NEW YORK — Centogene last week filed to go public in the US through an offering of up to $69 million of its common stock.

In its filing with the US Securities and Exchange Commission, however, Centogene noted that it has not finalized the number of shares it intends to offer or the price per share.

SVB Leerink and Evercore ISI are listed in the filing as the underwriters for the IPO.

Rostock, Germany-based Centogene offers rare disease genetic tests and services for clinical applications, as well as to support drug discovery and development programs for clients including Sarepta Therapeutics, Chiesi, and Denali Therapeutics. The core of its business is its CentoMD database clinically annotated genetic variants of rare diseases.

In its SEC filing, the firm said it will use the money from the initial public offering for R&D, working capital, and general corporate purposes. It also disclosed that it generated €40.5 million ($45.0 million) in revenues in 2018, with a net loss of €11.3 million. Its R&D costs in 2018 were €6.3 million while SG&A expenses were €26.1 million. As of June 30, Centogene had €3.6 million in cash and cash equivalents.

Centogene raised €25 million million in Series A funding in 2017. The company also opened an office in Boston that year.