Rare disease diagnosis technology developer Centogene is gearing up for an IPO having spun out from Rostock in 2006 and raised $28.5m of equity funding in 2017.
Centogene, a Germany-based rare disease diagnosis technology spinout from University of Rostock, is considering going public in an initial public offering on the Nasdaq stock exchange, Reuters reported on Friday.
The transaction could reportedly take place as soon as the second or third quarter of 2019.
Founded in 2006, Centogene has created a diagnostics system billed as the world’s largest database of genetic mutations for rare inherited diseases such as polycystic kidney disease and spastic paraplegia.
The database includes 2,800 genes as well as biochemical tests, biomarkers and genome sequencing capabilities.
Centogene offers its genetic testing service on a standalone basis and also helps design pharmaceutical big data systems based on its technology for drug firms.
The spinout previously obtained $28.5m in a 2017 round led by fund management network TVM Capital Life Science that featured DPE Deutsche Private Equity, Careventures and CIC Capital.
Centogene was founded by its chief executive Arndt Rolfs, a professor of neurology at University of Rostock’s Department of Medical Genetics.
