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Centogene Rips Higher On Walk-In COVID-19 Testing Deal With Frankfurt Airport

Centogene Rips Higher On Walk-In COVID-19 Testing Deal With Frankfurt Airport

Shares of German genetic diagnosis company Centogene NV (NASDAQ: CNTG) were advancing strongly Monday.

What Happened: Centogene said it has partnered exclusively with Deutsche Lufthansa AG (OTC: DLAKY) and with Fraport, the operator of Frankfurt Airport, to offer COVID-19 testing to passengers flying to and from Frankfurt Airport.

The exclusive partnership with Lufthansa and Fraport starts immediately and is expected to run until July 31, 2021, Centogene said.

Passengers flying to or from the Frankfurt Airport can perform the test at a sampling center located near the main terminal, either the day before traveling or with a fast track solution the same day before departure, the company said. 

The results will be delivered to the passenger via a secure digital platform and connected to their ticket, providing secured clearance for passengers flying to countries with entrance restrictions.

Why It Matters: With the world reopening after prolonged lockdowns during the coronavirus pandemic, caution is still the watchword, as the viral outbreak is not under control. 

Centogene said this first walk-in testing solution in Germany is likely to serve as a blueprint for opening international borders.

"Through our partnership with Lufthansa and our medical partner Dr. Bauer Laboratoriums GmbH, we can ensure a quick, accurate, and secure end-to-end solution that safely reopens air travel and further supports a return to a new normal for our societies and economies,"  Dr. Volkmar Weckesser, Centogene's chief information officer.

At last check, Centogene shares were rallying 12.75% to $22.11. 

Related Links:

The Week Ahead In Biotech (June 28- July 4): Pending Clinical Readouts In Focus During A Short Holiday Week

Gilead Announces Pricing Of Coronavirus Treatment Remdesivir: 'We Believe All Patients Will Have Access'

Public domain photo via Wikimedia.


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