CNTG - CENTOGENE Explores Strategic Alternatives | Benzinga
CAMBRIDGE, Mass. and ROSTOCK, Germany and BERLIN, Feb. 28, 2024 (GLOBE NEWSWIRE) -- Centogene N.V. (NASDAQ:CNTG) (the "Company"), the essential life science partner for data-driven answers in rare and neurodegenerative diseases, today announced that the Company has decided to explore a range of strategic alternatives focused on sustainable long-term value creation for the benefit of its stakeholders.
"CENTOGENE is recognized as the world leader in rare and complex disease diagnostics, data, and pharma services. The Company made significant advancements in 2023 with the launch of innovative and high-impact genomic and multiomic products. We structured a very significant joint venture in Saudi Arabia to provide state-of-the-art genetic testing services and expanded our pharma business with new and long-standing partners. We recognize the challenges of the current financial markets and want to ensure CENTOGENE is best placed for growth and a path towards profitability. Management is working with the Supervisory Board to evaluate available options," said Kim Stratton, Chief Executive Officer, CENTOGENE.
"The Supervisory Board supports exploring strategic alternatives to unlock value for CENTOGENE's stakeholders, in a due process and in observance of good governance," said Peer Schatz, Chairman of the Supervisory Board of CENTOGENE. "CENTOGENE remains committed to its important and very critical mission: to provide data-driven, life-changing answers to patients, physicians, and pharma companies for rare and neurodegenerative diseases."
The Supervisory Board has appointed a special committee, consisting of independent members, to oversee the exploration and evaluation of potential strategic alternatives, and has engaged an advisory firm to support in the process. Strategic alternatives may include, without limitation, an acquisition of CENTOGENE through a tender offer, a merger or other business combination, divestitures of asset, licensing/partnership transactions, seeking additional financing, and/or continuing to operate as an independent public company.
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