$Centogene (CNTG.US)$ NEWS (LATE) CENTOGENE Secures Approx. ...
NEWS (LATE)
CENTOGENE Secures Approx. $20 Million to Strengthen Cash Position
Centogene (Nasdaq: CNTG) has secured approximately $20 million in funding through an expanded relationship with Lifera, a biopharma company owned by Saudi Arabia's Public Investment Fund (PIF). This includes a $15 million purchase of Centogene’s accounts receivables and additional investments in their joint venture. The financing bolsters Centogene’s liquidity, supporting operations and strategic initiatives, and aims to help the company achieve EBITDA breakeven by year-end. Adjustments to a previous $30 million convertible loan from Lifera include extending the loan to 24 months and partial conversion at $0.79.
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