Last checked at 13 Jun 2023 07:00
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
Cambridge Cognition wins £2 million contract for a pivotal cancer therapy trial
Cambridge Cognition (AIM: COG), which develops and markets digital solutions to assess brain health, is pleased to announce it has won a £2 million contract for a pivotal cancer therapy trial. The Company will provide its proprietary cognitive assessments (CANTAB®) as an exploratory endpoint with revenue from the contract expected to be recognised over the next five years.
Regulatory approvals for oncology drugs have almost tripled over the last 10 years (16 approvals in 2013 to 43 approvals in 2022)1. With a growing number of therapeutics available, pharmaceutical companies are now investing heavily in differentiating their new drugs and are particularly focused on limiting long-term side effects, such as cognitive impairment, which impacts 30% of patients following chemotherapy2.
Cognitive decline associated with cancer most notably affects attention, memory, and executive function. CANTAB® offers the sensitivity and specificity to measure these distinct cognitive processes. Recognising this, CANTAB® has been selected as an exploratory endpoint in this pivotal oncology trial. Cambridge Cognition secured this contract because not only does it offer well-validated, proprietary assessments, but a delivery platform with a track record of successful, global deployment. Supported by the Company's experienced clinical project management team, CANTAB® will be deployed in 9 countries and in 11 languages to accurately assess cognition across 70 trial sites.
Commenting, Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
"Advances in cancer treatment have led to increased consideration for limiting the side-effects that impact patients' quality of life. Reducing cognitive impairment could have a major impact on patients' lives. We are pleased to be working with a major pharmaceutical company to support their development programme. With significant investment being made in cancer trials by the world's leading pharmaceutical companies, we expect that this could become a considerable growth area for Cambridge Cognition in the future."
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.
References
1. GlobalData. 2023. https://www.globaldata.com/media/pharma/globaldata-forecasts-oncology-drug-sales-to-generate-2-2-trillion-between-2023-and-2029/
2. Assessment and management of cognitive symptoms in patients with brain tumours, Parsons & Dietrich, American Society of Clinical Oncology Educational Book 41 (May 19, 2021)
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