Last checked at 17 Mar 2020 07:00
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
Cambridge Cognition wins £1.37m of new eCOA contracts
Cambridge Cognition Holdings plc (AIM: COG), which develops and markets digital solutions to assess brain health, is pleased to announce that the Company has won a contract for three phase II studies with a new pharmaceutical client (the "Client"). The Directors believe these studies, which have an aggregate value to the Company of £1.37 million, demonstrate significant progress for the Company in delivering its strategy of combining the sale of CANTAB™ cognitive assessments with additional electronic clinical outcome assessments (eCOA). Contract delivery is expected to be over a two year period.
The Company will provide the Client with a single vendor solution for all three studies, managing the procurement of licences, device provision, CANTABTM cognitive assessments, a centralised platform for data acquisition and storage, as well as trial management services. The Client and the Company will additionally collaborate on the design and testing of a new cognitive task for use in clinics. The contract also includes the provision of one-to-one training for study sites, as well as the licensing of eCOA instruments. These additional services, which amount to 44% of the contract value, will be provided by a subcontractor to Cambridge Cognition.
The three studies will include a total of 180 patients - 60 per clinical group - with the overall objective being to track early cognitive changes and motor signals associated with the drug being delivered. By delivering CANTABTM cognitive assessments and eCOA questionnaires and scales all one platform, the Client will be able to sensitively, efficiently and securely monitor three distinct clinical populations.
Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
"We are pleased to welcome another pharmaceutical partner to our growing client base, using our innovative digital health technologies. This is the second partnership that has been secured on the strength of launching our enhanced eCOA solution in 2019; underlining the importance of continuing to invest in developing our digital solutions."
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
For further information, contact:
Cambridge Cognition Holdings PLC Matthew Stork, Chief Executive Officer Nick Walters, Chief Financial Officer | Tel: 012 2381 0700 press@camcog.com |
finnCap Ltd (NOMAD and Joint Broker) Geoff Nash / Simon Hicks Alice Lane / Manasa Patil | Tel: 020 7220 0500 (Corporate Finance) (Corporate Broking) |
Dowgate Capital Limited (Joint Broker) David Poutney / James Serjeant | Tel: 020 3903 7715
|
IFC Advisory Ltd (Financial PR and IR) Tim Metcalfe / Graham Herring / Zach Cohen | Tel: 020 3934 6630
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Notes to Editors
About Cambridge Cognition
Cambridge Cognition is a neuroscience technology company developing digital health products to better understand, detect and treat conditions affecting brain health. The company's software products assess cognitive health in patients worldwide to improve clinical trial outcomes, identify and stratify patients early and improve global efficiency in pharmaceutical and healthcare industries.
For further information visit www.cambridgecognition.com