Cambridge Cognition confirms series of new contracts

(ShareCast News) - Neuroscience company Cambridge Cognition Holdings announced a series of new contracts worth more than £0.25m on Thursday, to assess - through CANTAB Connect - the abuse potential of investigational drugs in a new market application for the company.The AIM-traded firm claimed that, since launching its cloud-based CANTAB Connect software platform in 2014, it has become a leading provider of Human Abuse Liability (HAL) assessment technology, helping drug development partners achieve multiple FDA approved abuse deterrent labels.To date Cambridge Cognition has signed 35 HAL contracts following the launch of the CANTAB Connect Abuse Liability product with revenues totalling in excess of £3m in a market which the board expects to continue to grow.The contracts announced on Thursday will use CANTAB Connect to assess abuse potential in a new, unexplored and growing therapeutic area, the board said, which is an extension of the HAL market targeted to date."Where labour-intensive, imprecise and error-prone manual tests were used previously to measure drug effects, our computerised solutions now improve trial efficiencies and optimise the likelihood of success throughout all stages of drug development," said CEO Steven Powell."Human abuse liability studies play an increasingly important role in this process and we look forward to supporting new and existing partners and customers through our enlarged commercial team as this market continues to grow."