(Alliance News) - Cambridge Cognition Holdings PLC said on Monday it has been awarded contracts for two clinical trials assessing the effects of a new schizophrenia drug.
The Cambridge-based neuroscience technology firm said the combined contracts with the unnamed pharmaceutical company are worth GBP700,000 over two years.
Cambridge Cognition said this was the second pharmaceutical client to award a contract for assessment of schizophrenia in the last year.
The client has contracted Cambridge Cognition to determine the efficacy of its new drug for improving cognition in patients with schizophrenia.
Cambridge Cognition said it will provide its proprietary cognitive assessments, its electronic questionnaires and scales platform, and its study management services.
Matthew Stork, chief executive said: "It is excellent news that we have secured another top 20 pharmaceutical company as a new client and that we are conducting more clinical trials for patients with schizophrenia, which is a therapeutic area we are targeting for growth. We are pleased with this client win which continues the very positive momentum in the business and further improves our revenue visibility."
Shares in Cambridge Cognition were up 6.1% at 131.00 pence on Monday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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