CAMBRIDGE, Mass. - Centogene N.V. (NASDAQ:CNTG), a life science company specializing in rare and neurodegenerative diseases, announced that it has granted Evotec SE (Frankfurt Stock Exchange:EVT) an R&D license for further development of a new small molecule aimed at treating Gaucher disease types 2 and 3.
This step follows the discovery of the molecule through a partnership initiated in 2018 and is part of an amended agreement that extends their collaboration for an additional year.
The molecule, which has shown promise in preclinical studies, targets the reduction of lyso-Gb1, a substance that accumulates in patients with neuronopathic Gaucher disease. The partnership leveraged Evotec's high throughput screening platform and Centogene's proprietary translational biomarkers, alongside patient-derived iPSC lines from Centogene's Biodatabank, which contains data from over 850,000 patients.
Under the terms of the amended agreement, Evotec has an exclusive option until March 31, 2025, to enter a license agreement for Centogene's share of the intellectual property generated during their collaboration. Should Evotec exercise this option, Centogene would receive an option exercise fee, potential milestone payments, and royalties. Financial details of the agreement have not been disclosed.
Dr. Peter Bauer, Chief Medical and Genomic Officer at Centogene, expressed confidence in the partnership's ability to accelerate the development of a new treatment that could significantly impact patients with neuronopathic Gaucher disease globally.
Similarly, Dr. Cord Dohrmann, Chief Scientific Officer of Evotec, highlighted the complementary nature of the partnership and the potential benefits for a patient population in need of effective treatments.
The announcement is based on a press release statement from Centogene N.V.
InvestingPro Insights
In light of Centogene N.V.'s (NASDAQ:CNTG) ongoing efforts to innovate in the field of rare and neurodegenerative diseases, recent data from InvestingPro provides a snapshot of the company's financial health and stock performance. With a market capitalization of 11.14 million USD and a striking revenue growth of 2763.24% in the last twelve months as of Q2 2023, Centogene appears to be expanding its financial base rapidly.
However, the company's operational efficiency is currently under scrutiny, as indicated by an operating income margin of -70.58% over the same period. This could suggest challenges in managing expenses relative to revenues, an important factor for investors to consider. Additionally, the stock has experienced significant volatility, with a 1-month price total return of -28.01% and a 6-month price total return of -68.76%, underscoring the potential risks associated with investing in the biotech sector.
Two InvestingPro Tips highlight critical areas for potential investors: Centogene operates with a significant debt burden and is quickly burning through cash. These factors are crucial when evaluating the company's long-term viability and investment potential. For those seeking further insights, InvestingPro offers an additional 10 tips on Centogene, which can be accessed through their platform. To make this resource more accessible, users can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
As Centogene continues to navigate the complexities of drug development and commercialization, these financial metrics and expert tips can provide valuable context for stakeholders monitoring the company's progress.
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