Rostock-based Centogene (Nasdaq: CNTG) is not only getting a multi-million euro cash injection, but also a new CEO. Kim Stratton replaces Andrin Oswald, who resigned due to health reasons.

The stock market price of the Rostock-based experts for rare genetic diseases dropped sharply last year. The share price fell by more than 50% to less than 4 euros. But the confidence of investors is still high - old and new investors have agreed to a multi-million euro financial injection and are providing the company with a total of 55 million euros. A capital increase brings in 15 million euros. Another 40 million euros will come from a bond issue, about half of which will be taken up directly.

The newly appointed CEO Kim Stratton thus has some financial flexibility to implement the stated mission of ridding Centogene of its image as a corona-testing company. Stratton has more than 25 years' experience in the biopharmaceutical sector from Novartis to Shire. Most recently, she was CEO of Orphazyme A/S (ORPHA.CO), a company also focused on rare diseases. Supervisory Board Chairman Peer Schatz was especially pleased with the new appointment because of her proven experience in this field.