- First quarter 2021 revenue of 65.0 million euros, driven by COVID-19 testing revenue, up more than 400% from 12.1 million euros in the first quarter of 2020
- Achieved positive Adjusted EBITDA, driven by revenues from COVID-19 testing, while continuing to invest in the Company’s core business in rare diseases
- Addition of more than 25,000 patients to the bio / database focused on rare diseases in the first quarter of 2021
- Demonstrated sequential revenue growth in the Diagnostics segment and signed five new pharmaceutical partnership agreements
- Announced key additions to the leadership team including Rene Just as CFO and Michael Motz as Business Director, Pharma
- Organization of a virtual event for investors on June 22 to define the strategic direction of the company
CAMBRIDGE, Massachusetts and ROSTOCK, Germany and BERLIN, June 16, 2021 (GLOBE NEWSWIRE) – Centogene NV (Nasdaq: CNTG), a commercial company focused on generating data-driven information to diagnose, understand and treat rare diseases , today announced its financial results for the first quarter ended March 31, 2021.
“We had a solid start to the year, with high turnover, support for patients with rare diseases with the best diagnostic tests and the establishment of new pharmaceutical collaborations. With the expansion of our collaboration with our partners Takeda and Denali, as well as the recent launch of the EFRONT study with Alector, we have further strengthened our collaborative momentum and improved our knowledge of rare neurological diseases, ”said Andrin Oswald , MD, Managing Director of CENTOGENE. “Our bio / database is essential to secure such partnerships and offers unparalleled and ever-expanding information to patients seeking the most accurate diagnosis and to pharmaceutical companies seeking to accelerate the development of orphan drugs. Together with the new CENTOGENE leadership team, I look forward to describing how we will unlock the significant value potential of CENTOGENE’s assets and foster opportunities for growth and value creation at the next virtual event for investors.
Richard Stoffelen, Chief Financial Officer of CENTOGENE, added: “We are pleased to have been able to continue our significant investments in the core business of the Company in the field of rare diseases. This was supported by the positive contribution to EBITDA from COVID-19 testing. As the Company continues through 2021, we will continue to invest in its capabilities and deliver more value to patients and shareholders. “
Solid foundations for continued recovery in 2021
With a strong focus on its core business as a data-centric, rare disease-focused company, CENTOGENE has continued to spearhead scientific and collaborative advancements in this area amid the global pandemic. As vaccine roll-out continues and bottlenecks begin to lift, the Company is seeing further growth in its core segments of clinical and pharmaceutical diagnostics, further strengthening its leadership position in rare diseases.
Further information on the company’s first quarter 2021 earnings, including management’s discussion and analysis of financial condition and results of operations, is available by visiting EDGAR on the SEC website at at www.sec.gov as well as on the Investor Relations page of the Company’s website. at http://investors.centogene.com.
The resumption of diagnostics and the newly signed pharmaceutical partnership agreements indicate a return to solid core business growth for 2021. With respect to CENTOGENE’s COVID-19 testing segment, the Company acknowledges that uncertainties remain regarding the Global vaccine deployment, the epidemiological impact of new mutations, and testing policies – make precise predictions impossible. Based on the trajectory at the end of the first quarter of 2021, CENTOGENE anticipates revenue from the COVID-19 testing segment to be at least equivalent to 2020.
Virtual Investor Event
The Company will host a virtual investor event on Tuesday, June 22, 2021 from 9:00 a.m. to 11:00 a.m. EDT / 3:00 p.m. to 5:00 p.m. CEST and will not hold a separate quarterly earnings call. To register and learn more about the CENTOGENE Virtual Investor Event, visit: https://www.centogene.com/es/virtual-investor-event.html
Relevant links will also be available on the Investor Relations page of the Company’s website at https://investors.centogene.com.
CENTOGENE engages in the diagnosis and research around rare diseases by transforming clinical, genetic and multiomic data from the real world to diagnose, understand and treat rare diseases. Our goal is to streamline treatment decisions and accelerate the development of new orphan drugs using our extensive knowledge and data on rare diseases. CENTOGENE has developed an exclusive global rare disease platform based on our real-world data repository with over 3.9 billion weighted data points from approximately 600,000 patients representing over 120 different countries as of December 31, 2020.
The Company’s platform includes epidemiological, phenotypic and genetic data that reflect a global population, as well as a biobank of blood samples and cell cultures from patients. CENTOGENE believes it is the only platform focused on comprehensive multi-level data analysis to improve understanding of rare inherited diseases. It enables better identification and stratification of patients and their underlying diseases to enable and accelerate the discovery, development and access to orphan drugs. As of December 31, 2020, the Company was collaborating with more than 30 pharmaceutical partners.
Important notice and disclaimer
This press release contains statements that constitute “forward-looking statements” as that term is defined in the United States Private Securities Litigation Reform Act of 1995, including statements that express opinions, expectations, beliefs, plans , the objectives, assumptions or projections of the company. regarding future events or future results, unlike statements that reflect historical facts. Examples include discussing our strategies, financing plans, growth opportunities and market growth. In some cases, you may identify these forward-looking statements by words such as “anticipate”, “intend”, “believe”, “estimate”, “plan”, “seek”, “plan” or “‘, “Will”, “would”, “could” or “should”, the negative of these terms or similar expressions. Forward-looking statements are based on the current beliefs and assumptions of management and on information currently available to the Company. However, these forward-looking statements are not guarantees of our performance and you should not place undue reliance on such statements. Forward-looking statements are subject to many risks, uncertainties and other varying circumstances, such as negative global economic conditions and the continued instability and volatility of global financial markets, the effects of the COVID-19 pandemic on our business and our operating results, possible changes in current and proposed legislation, regulations and government policies, pressures of increasing competition and consolidation in our industry, expenses and uncertainty of regulatory approval, including from the United States Food and Drug Administration, our reliance on third parties and collaborative partners, including our ability to manage growth and forge new customer relationships, our reliance on l ” regard to the rare disease sector, our ability to manage our international expansion, our dependence on the key personnel, our reliance on intellectual property protection, fluctuations in our operating results due to currency exchange rates or other factors. Such risks and uncertainties may cause statements to be inaccurate, and readers are cautioned not to place undue reliance on such statements. Many of these risks are beyond the control of the Company and could cause its actual results to differ materially from those expected to occur. The forward-looking statements included in this press release are made only as of the date hereof. The Company does not undertake, and specifically disclaims, any obligation to update such statements or to publicly announce the results of any revision of such statements to reflect future events or developments, except as required by law. .
For more information, please see the Risk Factors section of our Annual Report for the year ended December 31, 2020, Form 20-F filed with the SEC on April 15, 2021, and other reports. and documents provided or filed with the United States Securities Commission (SEC). You can obtain these documents by visiting EDGAR on the SEC’s website at www.sec.gov.