CNTG - Centogene stock surges ~15% on extending diagnostic pact with Takeda

2023-04-11 07:07:49 ET

Centogene ( NASDAQ: CNTG ) said it extended its collaboration with Takeda Pharmaceutical ( NYSE: TAK ) to diagnose patients with Lysosomal Storage Disorders (LSDs).

Under the renewed one-year agreement, Centogene will continue to provide Takeda with access to diagnostic testing for patients globally.

The companies added that the aim of the commercial fee-for-service agreement is to improve patient access to rapid and reliable diagnostics for LSDs, including Fabry disease, Gaucher disease, and Hunter syndrome.

Germany-based Centogene noted that its Biodatabank, contains ~700K patients representing over 120 countries, more than 70% of whom are of non-European descent, including a large share of children cases.

"Leveraging our targeted diagnostic portfolio, network of over 30,000 active physicians, and the CENTOGENE Biodatabank driving novel insights, we are uniquely positioned to deliver substantial value to our pharma partners throughout every stage of the development pipeline," said Centogene's Chief Commercial Officer and General Manager  Ian Rentsch.

In 2015, Centogene had signed agreement with Shire Pharmaceuticals, which was acquired by Takeda in 2019, to provide diagnostic testing capability for patients with rare genetic diseases. In 2022, the agreement was extended till March 2023.

CNTG +15.37% to $0.75 premarket April 11

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