The firm said it will use the funding to invest in research and development that will improve upon its deep shotgun metagenomic sequencing technology.
The acquisition will allow the firms to provide annotated biospecimens, as well as sequencing, bioinformatics, and lab services to hospitals and clinicians.
Centogene said it will conduct molecular diagnostic testing using deletion/duplication analysis and full-length sequencing of the DMD gene.
New funding will support assay development and lab space to offer test services, and ultimately a test kit using the firm's resistance database.
The prospective, multi-site clinical trial will evaluate the clinical utility of unbiased sequencing for identifying pathogens in suspected CNS infections.
The firm will use the funds to continue its commercialization plans for the Unyvero diagnostic test cartridges and instruments.
The firm reported selling more billable tests in Q1 than any previous quarter and said that it is starting to see momentum in new initiatives, such as carrier screening.
Avalon said that it will collaborate with genomic sequencing and PCR firm Da An Gene to accelerate exosome diagnostic product development and commercialization.
The companies will share bioinformatics and NGS expertise to speed the identification of diseases, accelerate drug discovery, and find "genomic shields."
The firm said that prior to obtaining US regulatory clearance, it's making the assay available for use as a lab-developed test by US laboratories with CLIA approvals.