NEW YORK (GenomeWeb) – Centogene, a German firm focusing on genetic diagnosis of rare disease, has raised €25 million ($28 million) in a Series A financing round led by TVM Capital Life Science in collaboration with DPE Deutsche Private Equity, Careventures, and CIC Capital.
Centogene said it will use the proceeds from the financing to accelerate its growth and expansion plans in the areas of genetic testing, pharmaceutical collaborations, and big-data solutions.
Specifically, the company aims to increase its presence in the US and China, and intends to expand its current presence in other regions, primarily the MENA region and Latin America. The funding will also help Centogene broaden its portfolio of biomarkers, companion diagnostics, and tools for oncogenetics.
The company said it has already provided genetic testing for rare disease to patients in more than 110 countries, enabling it to generate global insights into the epidemiological basis of hereditary disorders and the link between genotypic and phenotypic data.
In December, the company said that it would be installing Illumina HiSeq X sequencing platforms at its clinical laboratory in Rostock in order to provide whole-genome sequencing diagnostic services in addition to the clinical exome sequencing it has been offering since 2014.
"Centogene's genetics database coupled with its in-depth clinical knowledge positions the company perfectly to continue on its growth trajectory," Guido Prehn, partner at DPE Deutsche Private Equity, said in a statement. "It uniquely addresses the challenges of the pharmaceutical industry in a market that develops towards evidence-based and personalized medicine."