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Centogene Prices US IPO at $14 per Share

NEW YORK — Centogene said on Thursday that it has priced its planned US initial public offering of 4 million shares at $14 apiece for total gross proceeds of roughly $56 million.

The company has also granted the underwriters of the offering a 30-day option to purchase an additional 600,000 shares at the offering price, which would add another $8.4 million to the IPO's value.

SVB Leerink and Evercore ISI are acting as joint book-running managers for the offering, with Baird and BTIG acting as co-managers. The stock is set to begin trading on the Nasdaq on Thursday under the ticker symbol CNTG.

Rostock, Germany-based Centogene offers rare disease genetic tests and services for clinical applications, as well as to support drug discovery and development programs for biopharma clients. The core of its business is its CentoMD database of clinically annotated genetic variants of rare diseases.

Last month, the company — which raised €25 million ($27.1 million) in Series A funding in 2017 — said it intends to use the proceeds of the IPO for R&D, working capital, and general corporate purposes.