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Cambridge Cognition Holdings PLC - Cambridge-based brain health assessment software provider - Buys virtual clinical trial solution provider eClinicalHealth Ltd for up to GBP1.7 million. Says the opportunity shows an exciting opportunity to expand its virtual clinical trials offering in a rapid growth market.
Chief Executive Officer Matthew Stork says: "This acquisition is an exciting step in our strategic goal to provide a specialist dedicated service for [central nervous system] clinical trials. The continued rise in virtual trials, and CNS virtual trials in particular, has led us to carefully consider how best to expand our offering quickly to serve this growing market."
eCH is a digital technology provider of innovative approaches for the delivery of virtual clinical trials. In the financial year ended on January 31, it reported GBP1.0 million in revenue and a pretax loss of GBP300,000. Cambridge Cognition the acquisition could add 5% to 15% to its expected revenue next year, as well as a positive contribution in 2024.
Current stock price: 113.82 pence, up 2.5% on Wednesday morning in London
12-month change: down 18%
By Xindi Wei; xindiwei@alliancenews.com
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