CENTOGENE and Lifera form Saudi Arabian JV, Securing CENTOGENE $30 Million Investment

June 27, 2023

(24/7 MARKET NEWS) – CENTOGENE N.V. (NASDAQ:CNTG) and Lifera, a biopharmaceutical company wholly-owned by the Public Investment Fund (PIF), announced, this morning, that they’re forming a strategic collaboration Joint Venture to increase local and regional access and rapid delivery of world-class multiomic testing to patients in Saudi Arabia and countries of the Gulf Cooperation Council (GCC). Under the terms of the collaboration, CENTOGENE will receive a $30 million mandatory convertible loan from Lifera.

CENTOGENE is trading at $1.13, up $0.3476 (+44.43%), on 7.26M premarket shares traded.

Its 52-week range is $0.85 to $10.46. This made a huge move in April that will likely provide multiple resistance points, so the volume really needs to pick up in order for it to continue to make a meaningful move higher.

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