Thermomechanical, biocompatibility, durability, workability and economic characteristics are the main criteria for development of dental alloys. In an attempt to provide a noble metal dental alloy without the known adverse metallic elements, a novel alloy was produced with the addition of Germanium (Ge), as a more cost-effective alternative to other precious alloying metals. The objective of this investigation was to analyse the thermomechanical and biocompatibility properties of a high noble Au-Pt-Ge porcelain-fused-to-metal (PFM) alloy. These properties were investigated with DSC analysis, hardness, density and coefficient of thermal expansion (CTE) measurements, as well as with metallographic and SEM/EDX microstructure investigations, with the production of a test PFM dental bridge, static immersion testing for metal ion release, and an in vitro primary biocompatibility testing on human gingival cells. The results of the thermomechanical testing showed alloy properties suitable for dental restorations and clinical use, with somewhat lower hardness, making the alloy not suitable for extensive multiunit fixed restorations. The microstructure investigations showed segregations of Ge in a homogeneous alloy matrix, which reduce the alloy’s mechanical properties. The produced PFM dental bridge shows excellent workability of the alloy in a dental laboratory setting, as well as a high standard of the final dental restoration. The ion release was negligible, well below any harmful quantities, while the cell viability examination showed significantly higher viability ratings on polished alloy samples as compared to as-cast samples. The results showed that a dental substructure in direct contact with oral tissue and fluids should be highly polished.