CENTOGENE and Lifera, a PIF-Owned Biopharmaceutical Company, Enter Strategic Collaboration – Forming Joint Venture in Saudi Arabia to Increase Access to Leading Data-Driven Multiomics Testing and Secure $30 Million Investment for CENTOGENE

Centogene NV

Centogene NV

  • Joint Venture (JV) combines CENTOGENE’s global leadership in multiomics with the local knowledge of Lifera, a biopharmaceutical company wholly owned by the Public Investment Fund (PIF) based in Riyadh

  • JV focuses on providing state-of-the-art multiomics testing services to patients, healthcare systems, biopharmaceutical customers and research institutions in Saudi Arabia and the Gulf Cooperation Council (GCC) countries. CENTOGENE today is one of the largest genetic testing service providers in this market

  • High-quality services will translate genetic knowledge into life-changing data-driven responses, accelerating precision medicine, expanding population health programs, improving turnaround times of clinical diagnoses, and building capacities and capacities in Saudi Arabia to advance global research and collaboration

  • JV to help enable Saudi Vision 2030 and several other national priority initiatives related to genomic testing and growth of Saudi Arabia’s biotech sector

  • CENTOGENE will receive an investment of $30 million in the form of a mandatory convertible loan with a term of six months and a conversion price of $2.20 per share of CENTOGENE common stock, as well as significant payments related to the performance of the JV and royalties based on revenues through the year 2033

CAMBRIDGE, Mass. & ROSTOCK, Germany & BERLIN & RIYADH, Saudi Arabia, June 27, 2023 (GLOBE NEWSWIRE) — CENTOGENE NV (Nasdaq: CNTG), the essential life sciences partner for data-driven responses in rare diseases and neurodegenerative, and Lifera, a wholly owned biopharmaceutical company of the Public Investment Fund (PIF), today announced a strategic collaboration with the formation of a Joint Venture (JV) to increase local and regional access and rapid delivery of multiomics tests of worldwide to patients in Saudi Arabia and Gulf Cooperation Council (GCC) countries. Under the terms of the partnership, CENTOGENE will receive a $30 million mandatory convertible loan from Lifera.

CENTOGENE, the current market leader in outsourced genetic testing for patients in Saudi Arabia, will bring its core diagnostic and multiomics expertise to the JV, which together with Lifera’s strong presence and local resources, will establish widespread access to local state of the art genetic sequencing tailored to regional needs. The JV will build an advanced laboratory and bioinformatics infrastructure leveraging the CENTOGENE Biodatabank, the largest real-world integrated multiomics data repository in biobanks of globally rare diseases and neurodegenerative diseases, which has more than 70 million and over 35,000 sets of Saudi Arabia patient data. The JV will develop capabilities for genetic testing and interpretation, working in partnership with CENTOGENE globally, serving as a vehicle for large national genomics and screening programmes. Thus, patients in Saudi Arabia and the GCC, a rapidly growing region of over 56 million population, will have greater access to the world’s most advanced and effective diagnostic offerings, which is at the core of Liferas strategic goals to help improve national resilience and health outcomes in Saudi Arabia.

This strategic partnership reflects Liferas’ mission to grow Saudi Arabia’s biopharmaceutical sector. With CENTOGENE’s expertise in the field of rare, metabolic and neurodegenerative diseases, we see tremendous potential value for the JV to deliver more timely and accurate diagnoses that are crucial for patients and their families, guided by a comprehensive diagnostic portfolio ranging from beyond standard laboratory tests and medical interpretation. This collaboration will also enable biopharmaceutical research in rare diseases and provide resources to foster collaborative research across Saudi Arabia and with global partners, commented Dr. Ibrahim Aljufalli, chairman of the board of directors of Lifera.

Partnering with Lifera marks a significant step forward in our mission to provide life-changing, data-driven answers to patients around the world and is a path to achieving sustainable growth and profitability for CENTOGENE,” said Kim Stratton, Chief Executive Officer delegate of CENTOGENE. As part of Vision 2030, Saudi Arabia designed extraordinary programs to improve health outcomes across the region. This JV will now draw on CENTOGENE’s extensive know-how and current leading position in the Saudi market, as well as Lifera’s deep understanding of the local healthcare landscape to actively contribute to these healthcare initiatives. This, together with Liferas’ investment, ensures CENTOGENE a committed strategic partner for the future.

Under the terms of the agreement, Lifera and CENTOGENE will make an investment in the JV. CENTOGENE will also be eligible for significant JV performance milestone payments and revenue-based royalties through the year 2033. Both parties will be represented on the JV board. The agreement also provides that two representatives of Lifera will join the Supervisory Board of CENTOGENE.

Lifera will make an investment in CENTOGENE in the form of a $30 million mandatorily convertible loan that will be converted prior to 2024 into CENTOGENE common stock at a conversion price of $2.20. The loan is expected to be entered into, closed and funded within 90 days of the announcement date subject to final negotiation and completion of the transaction and the signing of the definitive agreements.

Additional information relating to this announcement can be found in a Current Report on Form 6-K that the Company plans to file today with the United States Securities and Exchange Commission.

Moelis LLC acted as financial advisor to CENTOGENE in the transaction. Davis Polk & Wardwell London LLP acted as legal counsel to CENTOGENE in the transaction. Ernst & Young acted as financial advisor to Lifera in the transaction. Latham & Watkins acted as counsel to Lifera in the settlement.

About Vitara

Lifera is a new biopharmaceutical company dedicated to advancing Saudi Arabia’s biopharmaceutical sector and building national health resilience. By developing local manufacturing capacity for vaccines, insulin, plasma therapies and other biologics, as well as investing in genetic testing and precision medicine, Lifera aims to ensure people in Saudi Arabia have access to reliable and affordable medicines.

Lifera will do this through partnerships and investments with leading international and Saudi companies to transfer global expertise and technology to Saudi Arabia. Wholly owned by the Public Investment Fund (PIF), Liferas’ differentiated vision and mission make it an ideal partner to build the biopharmaceutical sector in Saudi Arabia.


CENTOGENE’s mission is to provide life-changing data-driven answers to patients, clinicians, and pharmaceutical companies for rare and neurodegenerative diseases. We integrate multiomics technologies with CENTOGENE Biodatabank providing dimensional analysis to drive 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 the discovery, development and commercialization of targeted medicines.

Since our founding in 2006, CENTOGENE has been delivering fast and reliable diagnoses by building a network of approximately 30,000 active physicians. Our ISO, CAP and CLIA certified multiomics reference laboratories in Germany use phenomics, genomics, transcriptomics, epigenomics, proteomics and metabolomics datasets. This data is captured in our CENTOGENE biological database, with over 750,000 patients represented from over 120 very different countries, over 70% of which are of non-European ancestry. To date, the CENTOGENE Biodatabank has helped generate new insights for more than 275 peer-reviewed publications.

By translating our data and expertise into tangible insights, we have supported over 50 collaborations with pharmaceutical partners. Together, we accelerate and de-risk drug discovery, development, and commercialization in drug and target screening, clinical development, market entry, and expansion, as well as offer CENTOGENE biodata licensing and insights reporting to enable a world healed of all rare and neurodegenerative diseases.

To learn more about our products, pipeline, and patient-focused purpose, visit www.centogene.com and follow us on LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements pursuant to US federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking and the words anticipate, believe, continue, expect, estimate, intend, project, plan, is designed to, potential, foresee, objective and similar and future or conditional expressions 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 could 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, adverse economic and geopolitical conditions and instability and volatility in global financial markets, possible changes in current and proposed legislation, government policies and regulations, pressures resulting from increasing competition and consolidation in our industry, the and regulatory approval uncertainty, including from the U.S. Food and Drug Administration, our dependence on third parties and collaborative partners, including our ability to manage growth, execute our business strategy, and initiate new relationships with customers, our reliance on the rare disease industry, our ability to manage international expansion, our reliance on key personnel, our reliance on intellectual property protection, fluctuations in our operating results due to the effect of interest rates exchange rates, our ability to streamline the use of cash, our continued and ongoing compliance with covenants related to financial instruments, our need for additional funding and our ability to continue to operate as a business or other factors. For additional information about the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as the risks relating to CENTOGENE’s business generally, please consult the CENTOGENE risk factors disclosed on Form 20-F of CENTOGENE 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 today’s date, and CENTOGENEs expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events, or otherwise.




Melissa Room
Corporate communications

Lennart Streibel
Investor Relations

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