Centogene N.V. (Nasdaq: CNTG), the essential life science partner
for data-driven answers in rare and neurodegenerative diseases,
today announced preliminary unaudited revenue for full year 2023
between approximately €48.5 million and €49.0 million, reflecting a
growth rate over 2022 in the mid-single digits.
“2023 was a year of focus and transformational changes for
CENTOGENE. We strengthened our leading Diagnostic portfolio and
launched additional data and wet lab solutions to accelerate drug
discovery, development, and commercialization for Pharma. We also
expanded our partnership model with the formation of a new joint
venture (JV) in Saudi Arabia to provide state-of-the-art genomic
and multiomic testing services. Under this collaboration, we
received $10 million in upfront JV milestone payments, following an
initial $30 million investment into CENTOGENE. In the second half
of 2023, we experienced a lag in Pharma program timelines, which
impacted our full year 2023 Pharma segment revenue. Our Diagnostics
business grew in line with the industry,” said Kim Stratton, Chief
Executive Officer at CENTOGENE. “Heading into 2024, our Pharma
orderbook is set to hit new record levels. We attribute our strong
pipeline of Pharma orders in 2024 to the investments made in
building a fully resourced commercial team in our Pharma business.
In addition to pipeline growth, we have extended our relationships
with existing biopharma partners, as well as formed collaborations
with 10 new partners.”
More details will be available when the Company releases its
annual financial results for the full year 2023 on form 20-F. The
Company expects to report its full year 2023 results in April, at
which time the Company will discuss its 2023 financial results in
more detail.
The Company’s unaudited, preliminary 2023 revenue results are
based on current expectations and may be adjusted as a result of,
among other things, completion of annual audit
procedures. This financial information does not represent a
comprehensive statement of the Company’s financial results for the
second half and full year 2023 and remains subject to the
completion of financial closing procedures and internal
reviews.
Cautions Regarding Preliminary Estimates
The foregoing preliminary financial information reflects
management’s current expectations with respect to the Company’s
financial results for its second half and full year 2023. Such
preliminary financial information is subject to the finalization
and closing of the accounting books and records of the Company,
which have yet to be fully performed, as well as completion of
audit procedures by the Company’s independent public accountants.
Accordingly, the foregoing preliminary financial information should
not be viewed as a substitute for full, audited annual financial
statements prepared in accordance with applicable accounting
standards. In the course of preparing and finalizing the Company’s
financial statements for the full year ended December 31, 2023,
these preliminary estimates will be subject to change, and the
Company may identify items that will require it to make adjustments
to such estimates. For these or other reasons, these preliminary
financial estimates may not ultimately be indicative of the
Company’s results for its second half and full year ended December
31, 2023, and actual results may differ materially from those
described above. No independent registered public accounting firm
has reviewed, examined, or performed any procedures with respect
to, nor have they expressed any form of assurance on, these
preliminary estimated results.
About CENTOGENE
CENTOGENE’s mission is to provide data-driven, life-changing
answers to patients, physicians, and pharma companies for rare and
neurodegenerative diseases. We integrate multiomic technologies
with the CENTOGENE Biodatabank – providing dimensional analysis to
guide the next generation of precision medicine. Our unique
approach enables rapid and reliable diagnosis for patients,
supports a more precise physician understanding of disease states,
and accelerates and de-risks targeted pharma drug discovery,
development, and commercialization.
Since our founding in 2006, CENTOGENE has been offering rapid
and reliable diagnosis – building a network of approximately 30,000
active physicians. Our ISO, CAP, and CLIA certified multiomic
reference laboratories in Germany utilize Phenomic, Genomic,
Transcriptomic, Epigenomic, Proteomic, and Metabolomic datasets.
This data is captured in our CENTOGENE Biodatabank, with over
800,000 patients represented from over 120 highly diverse
countries, over 70% of whom are of non-European descent. To date,
the CENTOGENE Biodatabank has contributed to generating novel
insights for more than 285 peer-reviewed publications.
By translating our data and expertise into tangible insights, we
have supported over 50 collaborations with pharma partners.
Together, we accelerate and de-risk drug discovery, development,
and commercialization in target and drug screening, clinical
development, market access and expansion, as well as offering
CENTOGENE Biodata Licenses and Insight Reports to enable a world
healed of all rare and neurodegenerative diseases.
To discover more about our products, pipeline, and
patient-driven purpose, visit www.centogene.com and follow us on
LinkedIn.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the U.S. federal securities laws. Statements
contained herein that are not clearly historical in nature are
forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project,” “plan,” “is
designed to,” “is set to,” “potential,” “predict,” “objective” and
similar expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” and “may,” or the
negative of these are generally intended to identify
forward-looking statements. Such forward-looking statements involve
known and unknown risks, uncertainties, and other important factors
that may cause CENTOGENE’s actual results, performance, or
achievements to be materially different from any future results,
performance, or achievements expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, negative economic and geopolitical conditions and
instability and volatility in the worldwide financial markets,
possible changes in current and proposed legislation, regulations
and governmental policies, pressures from increasing competition
and consolidation in our industry, the expense and uncertainty of
regulatory approval, including from the U.S. Food and Drug
Administration, changes in our mix of customers and partners and
their order practices with respect to our products and solutions,
our reliance on third parties and collaboration partners, including
our ability to manage growth, execute our business strategy and
enter into new client relationships, our dependency on the rare
disease industry, our ability to manage international expansion,
our reliance on key personnel, our reliance on intellectual
property protection, fluctuations of our operating results due to
the effect of exchange rates, our ability to streamline cash usage,
our continued ongoing compliance with covenants linked to financial
instruments, our requirement for additional financing, and our
ability to continue as a going concern, or other factors. For
further information on the risks and uncertainties that could cause
actual results to differ from those expressed in these
forward-looking statements, as well as risks relating to
CENTOGENE’s business in general, see CENTOGENE’s risk factors set
forth in CENTOGENE’s Form 20-F filed on May 16, 2023, with the
Securities and Exchange Commission (the “SEC”) and subsequent
filings with the SEC. Any forward-looking statements contained in
this press release speak only as of the date hereof, and CENTOGENE
specifically disclaims any obligation to update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
CONTACT
CENTOGENE
Melissa HallCorporate Communications Press@centogene.com
Lennart StreibelInvestor Relations IR@centogene.com
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