New contract20 Sep 2016 08:23
First contract signed for patient recruitment product
The neuroscience company Cambridge Cognition Holdings PLC (Cambridge, UK - LSE: COG), which develops and markets near patient technologies to facilitate early intervention and development of treatments for neurological disorders, today announced that it has secured the first contract for the recently launched CANTAB Recruit product.
The drug development industry faces increasing challenges and mounting costs in locating, identifying and recruiting cognitively impaired subjects for clinical trials. This results in expensive recruitment costs and delayed clinical trial completion. Patient recruitment alone amounts to one third of total trial costs1 with 80% of pharmaceutical development programmes being delayed due to unfulfilled enrolment numbers2.
CANTAB Recruit is an online patient recruitment product developed and launched by Cambridge Cognition to accelerate the identification of qualified clinical trial participants in high-need neurological indications. By pre-screening subjects remotely with the Company's proprietary CANTAB® cognitive assessments the product is expected to reduce the cost and time of recruitment significantly for drug development companies and research institutes.
The first CANTAB Recruit contract has been signed with one of the world's largest biotechnology companies to support its patient enrolment in a late-phase Alzheimer's disease trial, helping to accelerate the development of a new drug treatment. Revenues will be recognised in the current financial year.
The commercialisation of CANTAB Recruit represents a significant milestone in the Company's provision of end-to-end neurocognitive services for corporate partners to accelerate the development of optimal treatments from proof of concept to post-marketing.
Steven Powell, PhD, Chief Executive Officer, Cambridge Cognition: "As pharmaceutical development moves towards preventative medicine, our customers and partners face a growing challenge to find suitable subjects with neurological disease in the early stages of cognitive decline. CANTAB Recruit will enrich recruitment practices by reducing on-site screen failure rates, saving sponsors substantial time and cost. With the number of drug development programmes in Alzheimer's disease increasing, we forecast that CANTAB Recruit will lead to significant opportunities beyond this initial contract for the Company and its partners."
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