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     377  0 Kommentare CENTOGENE and Lifera, a Biopharma Company Owned by the PIF, Enter Strategic Collaboration – Forming Saudi Arabian Joint Venture to Increase Access to Leading Data-Driven Multiomic Testing and Securing CENTOGENE $30 Million Investment - Seite 2

    “This strategic collaboration is a reflection of Lifera’s mission to grow Saudi Arabia’s biopharma sector. With CENTOGENE’s expertise in the field of rare, metabolic and neurodegenerative diseases, we see tremendous potential value for the JV to provide more timely and accurate diagnoses which are crucial to patients and their families, driven by a comprehensive diagnostic portfolio that goes beyond standard laboratory testing and medical interpretation. This collaboration will also enable biopharma research in rare diseases and provide resources to foster collaborative research across Saudi Arabia and with global partners,” commented Dr. Ibrahim Aljufalli, Chairman of the Lifera Board.

    “Teaming up with Lifera marks a significant step forward in our mission to deliver data-driven, life-changing answers to patients around the world and forms a pathway to achieving sustainable growth and profitability for CENTOGENE,” said Kim Stratton, Chief Executive Officer at CENTOGENE. “As part of Vision 2030, Saudi Arabia has designed impressive programs to improve health outcomes throughout the region. This JV will now build on CENTOGENE’s extensive know-how and current leading position in the Saudi market, as well as Lifera’s deep understanding of the local healthcare landscape to actively contribute to these healthcare initiatives. This, along with Lifera’s investment, secures CENTOGENE a committed strategic partner for the future.”

    Under the terms of the agreement, Lifera and CENTOGENE will make an investment into the JV. CENTOGENE will also be eligible for significant JV performance-related milestone payments and revenue-based royalties until the year 2033. Both parties will be represented on the board of the JV. The agreement also foresees that two Lifera representatives will join CENTOGENE’s Supervisory Board.

    Lifera will make an investment into CENTOGENE in the form of a $30 million mandatorily convertible loan which shall convert before 2024 into common stock of CENTOGENE at a conversion price of $2.20. The loan is expected to be entered into, close, and fund within 90 days from the date of the announcement subject to the final negotiation and completion of the transaction and the signing of definitive agreements.

    Additional information regarding this announcement can be found in a Current Report on Form 6-K that the Company intends to file today with the U.S. Securities and Exchange Commission.

    Moelis LLC acted as a financial advisor to CENTOGENE on the transaction. Davis Polk & Wardwell London LLP acted as legal advisor to CENTOGENE on the transaction. Ernst & Young acted as financial advisor to Lifera on the transaction. Latham & Watkins acted as legal advisor to Lifera on the transaction.

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    CENTOGENE and Lifera, a Biopharma Company Owned by the PIF, Enter Strategic Collaboration – Forming Saudi Arabian Joint Venture to Increase Access to Leading Data-Driven Multiomic Testing and Securing CENTOGENE $30 Million Investment - Seite 2 Joint Venture (JV) combines CENTOGENE's global leadership in multiomics with local insight of Lifera, a biopharmaceutical company wholly-owned by the Public Investment Fund (PIF) based in RiyadhJV focuses on providing state-of-the-art multiomic …