DPE stake in Centogene: Successful NASDAQ flotation
Munich/Rostock/Cambridge, MA, USA. November 12, 2019 – Innovative biotech company Centogene, in which DPE Deutsche Private Equity (DPE) is the major shareholder, has completed a successful flotation on the New York tech stock exchange NASDAQ, bringing Centogene a gross 56 million US dollars. At an issue price of 14 US dollars per share, the company was valued at 278 million US dollars (250 million euro).
Centogene intends to invest the proceeds primarily in research and development. Centogene specializes in rare diseases, developing medical solutions for patients on the basis of clinical, genetic and biochemical data. The Rostock-based company currently employs a staff of around 400, and is engaged in diagnosing patients suffering from rare diseases in over 110 countries. To support this work, Centogene has over many years established the world’s largest curated database and is now exploiting the new possibilities offered by artificial intelligence.
The company was founded in 2006 by long-standing Rostock University professor Arndt Rolfs. Subsequently in 2017 DPE took a stake in Centogene as part of a growth financing program in order to properly position the young company for major growth. DPE partner Guido Prehn, who sits on the Supervisory Board at Centogene, commented: “Centogene is already a world-leading player in the field of rare diseases whose work facilitates not only precise diagnoses but also personalized treatments that are markedly more effective. To this end Centogene works closely with the pharmaceutical industry. We are proud of the management and workforce who, with this successful NASDAQ flotation, have set the stage for their next major growth stage.”
About DPE Deutsche Private Equity:
DPE Deutsche Private Equity GmbH (“DPE”) is an independent German investment firm that ranks among Germany’s largest venture capital providers. DPE focuses on mid-sized companies in the German-speaking region operating in industries providing long-term growth prospects. Since foundation in 2007, DPE has invested in 26 companies that have concluded more than 50 follow-up investments and employ more than 8,000 people. DPE currently has total assets under management of around € 1.2 billion.
More information on DPE is available at www.dpe.de.
DPE Deutsche Private Equity Management III GmbH
Tobias M. Weitzel
BSK Becker+Schreiner Kommunikation GmbH
Tel: +49 (0)177 7215 760
This press release does not constitute either an offer to sell or an invitation to make an offer to purchase these securities; neither will these securities be sold in any state or territory in which such an offer, invitation or sale would be unlawful prior to registration or qualification in accordance with the securities laws of such state or territory.