Last checked at 25 Nov 2019 07:00
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
Cambridge Cognition expands eCOA offering and wins
$225,000 contract with top 10 pharmaceutical company
Cambridge Cognition Holdings plc (AIM: COG), which develops and markets digital solutions to assess brain health, is pleased to announce the launch of an improved electronic clinical outcomes assessment ("eCOA") platform that has already attracted a new client from one of the world's top 10 pharmaceutical companies.
Clinicians and patients complete clinical outcome assessments (COAs), such as questionnaires and scales, during clinical trials in order to monitor the effects of treatment. With the ubiquity of electronic devices, these necessary assessments are increasingly being delivered on smartphones, tablets and desktops, and so much so that the eCOA market is estimated to reach $2 billion by 20251.
After investing proceeds from the fundraise earlier this year, Cambridge Cognition has expanded its eCOA offering to include complex forms, alerting, interview recording and playback. Following the launch of the enhanced functionality the Company is pleased to announce a new clinical trial contract worth over US$225,000.
The Company's eCOA solution can be rapidly configured for each new clinical trial. This means that deployment of new clinical outcome instruments takes days, rather than weeks or months, once the licences have been secured.
This new contract has tight study deadlines, with multiple outcome assessments for over 100 patients across five time-points. In using the Company's automated assessment system, the administrative burden for sites is reduced, while consistency in data collection and quality is ensured. Crucially, having a single platform to deliver both electronic questionnaires and scales, alongside the Company's CANTABTM cognitive assessments, provides a seamless user experience for the patient.
Commenting, Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
"Increasingly, pharmaceutical and biotech companies are recognising the operational benefits of delivering questionnaires and scales electronically in their clinical trials. Our new eCOA offering enables us to capitalise on this shift and to provide an extremely fast turn-around from contract agreement to study deployment. We are pleased to see that the investment in development made this year has already helped us to build a new relationship with another prestigious partner. We look forward to this being one of many such partnerships."
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
References
1. Electronic Clinical Outcome Assessment Market : Grand View Research
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