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LONDON (Alliance News) - Neuroscience firm Cambridge Cognition Holdings PLC on Tuesday said it has secured its first contract for its CANTAB Recruit online patient recruitment product.
Cambridge Cognition said the contract has been signed with "one of the world's largest biotechnology companies", which it did not name, to support patient enrolment for a trial on a drug to treat late-stage Alzheimer's disease.
No financial details were disclosed but Cambridge Cognition said revenue from the contract will be recognised in 2016.
"CANTAB Recruit will enrich recruitment practices by reducing on-site screen failure rates, saving sponsors substantial time and cost. With the number of drug development programmes in Alzheimer's disease increasing, we forecast that CANTAB Recruit will lead to significant opportunities beyond this initial contract for the company and its partners," said Steven Powell, Cambridge Cognition's chief executive.
Shares in Cambridge Cognition were up 6.3% at 76.50 pence on Tuesday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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