LONDON (Alliance News) - Cambridge Cognition Holdings PLC on Wednesday said it signed its first commercial contract with an undisclosed pharmaceutical firm for its recently launched NeuroVocalix voice biomarker technology.
The neuroscience technology company said NeuroVocalix enables the remote assessment of voice-based cognitive measures.
Under the terms, NeuroVocalix will be used in the virtual clinical trial. The four-week study will include two verbal NeuroVocalix cognitive tests delivered alongside Cambridge Cognition's CANTAB and Cognition Kit assessments, all administered directly to study participants on their smartphones.
Cambridge Cognition said the move follows high attrition rates recorded in the traditional methods of clinical trials. The company said as many as 40% of the third phase trial participants drop out.
Meanwhile, virtual clinical trials represent a relatively new method of collecting safety and efficacy data, using digital technologies to conduct clinical trials from the comfort of the patients' homes.
"We are pleased to confirm this first contract for use of the novel voice platform in an industry sponsored clinical trial so soon after its launch," said Chief Executive Steven Powell.
"This demonstrates our continued commitment to innovative research & development projects, which will benefit our pharmaceutical clients and shows our ability to commercialise new neuroscience technology products rapidly," added Powell.
Shares in Cambridge Cognition were trading 5.0% higher on Wednesday at 147.49 pence each.