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(Alliance News) - Cambridge Cognition Holdings PLC on Friday said it has won a new contract, as the cognitive assessment partner for a late-phase cancer trial.
The digital neuroscience firm said it expects to earn GBP1 million in revenue over six years from the new contract with an unnamed major pharmaceutical company.
Following the announcement, shares in Cambridge Cognition were trading up 9.7% at 180.40 pence each in London on Friday morning.
The Cambridge, England-based company will provide its Cantabtm cognitive assessments across all 150 trial sites to measure the effects of cancer on mental function, in particular attention, memory, and executive function.
With UK cancer survival doubling in the last 40 years, greater focus has been placed on limiting the long-term side effects, the firm said, including cognitive deficits which are reported by 90% of patients with brain tumours and 30% of patients that undergo chemotherapy.
According to Cambridge Cognition, the cancer trial contract positions it in "the world's most consistently active disease space" alongside a client with a significant pipeline of oncology products.
Chief Executive Matthew Stork added: "This pharmaceutical client has a long-standing commitment to improving outcomes for cancer patients and we are delighted to be supporting their efforts. We expect that this could become a considerable growth area for Cambridge Cognition in the future."
By Scarlett Butler; scarlettbutler@alliancenews.com
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