Last checked at 12 Apr 2023 07:00
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
Cambridge Cognition awarded two contracts worth £2.1 million for rare disease trials
Cambridge Cognition (AIM: COG), which develops and markets digital solutions to assess brain health, is pleased to announce that it has won two sizeable contracts, together worth over £2.1 million, to provide the Company's CANTAB® cognitive assessments and electronic Clinical Outcome Assessments ("eCOA") for two pivotal trials involving patients with a rare disease. The contracts have been awarded by a new customer for the Company with revenues expected to be recognised over the next five years.
A rare disease is a condition that affects fewer than one in 2,000 people within the general population. While each individual disease may only affect a small amount of people, collectively, rare diseases affect about 6-8% of the population. Rare diseases are often associated with neurodevelopmental issues and cognitive dysfunction. Cambridge Cognition are widely recognised for proprietary cognitive assessments (CANTAB®) that are sensitive to the specific neural pathways impacted by disorders and improved by therapeutics. The Company therefore provides a valuable solution for pharmaceutical companies developing new drugs for a rare disease that may help improve the patient's cognitive function.
Every clinical trial includes questionnaires and is seeking a seamless experience for both patient and site. Recognising this need, Cambridge Cognition offers both eCOA and cognitive assessments in a single, easy-to-use platform. This unique product offering combined with the Company's extensive multi-site, multi-country project management experience secured Cambridge Cognition these two pivotal trials with a new customer.
Participation in these trials will enable Cambridge Cognition to offer more insights into the use of digital cognitive assessments and eCOA solutions as part of rare disease trials, including how effective these methods are for use in long-term studies.
Commenting, Matthew Stork, Chief Executive Officer of Cambridge Cognition, said: "Over the past five years Cambridge Cognition has developed a unique offering for clinical trials of leading cognitive assessments (CANTAB®) and electronic questionnaires (eCOA) in a single, easy-to-use platform. This, combined with our reputation for outstanding customer service and cutting-edge science, has enabled us to secure two large contracts with a new customer. These contracts will strengthen our presence in the rare disease field and showcase how our cognitive assessments can be used effectively in the development of symptom modifying treatments."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK law by virtue of the European Union (Withdrawal) Act 2018.
Enquiries
Cambridge Cognition Holdings Plc Matthew Stork, Chief Executive Officer Stephen Symonds, Chief Financial Officer
| Tel: 012 2381 0700 press@camcog.com |
Panmure Gordon (UK) Limited (NOMAD and Joint Broker) Freddy Crossley / Emma Earl Rupert Dearden
| Tel: 020 7886 2500 (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 cog@investor-focus.co.uk |
About Cambridge Cognition
Cambridge Cognition is a 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