Last checked at 2 Jun 2016 07:00
2nd June 2016
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Distribution agreement with AnthroTronix
The neuroscience technology company Cambridge Cognition Holdings PLC (Cambridge, UK - LSE: COG), which develops and markets products and technologies for near-patient cognitive assessment, has agreed a reseller distribution agreement with US engineering research and development company AnthroTronix Incorporated for the AnthroTronix brain health assessment product, DANA™.
DANA software measures and monitors subtle and acute changes in cognitive efficiency on handheld devices to support medical rehabilitation. Initially funded by the United States Department of Defense to evaluate performance degradation in military personnel, DANA was granted FDA clearance in 2014 for use by medical providers to aid in the assessment of an individual's medical or psychological state.
Cognitive and behavioural health is a growing area of military research. In 2013 the U.S. Veterans Affairs Department spent approximately $122 million on behavioural health research, of which $30 million focused on PTSD. Under the terms of the reseller agreement, Cambridge Cognition now has rights to distribute the DANA product to European military organisations and occupational health providers in addition to its core academic research and pharmaceutical clinical trials markets.
The market for brain training and cognitive assessments is approximately $1.3 billion worldwide and is forecast to exceed $6 billion by 2020.
Cambridge Cognition will commence marketing in the USA immediately and in Q4 2016 in Europe once the product has received CE mark registration.
Dr. Corinna Lathan, Board Chair and Chief Executive Officer, AnthroTronix commented:
"Monitoring brain health and cognitive function should be a part of an integrated approach to one's health and well-being. Our mobile medical app DANA is a unique tool that is proven to effectively and efficiently track changes in cognitive function over time. This agreement with Cambridge Cognition will help us expand DANA's reach throughout Europe and the United States."
Dr. Steven Powell, Chief Executive Officer, Cambridge Cognition:
"We are delighted to have agreed this reseller agreement with AnthroTronix. Having worked informally with AnthroTronix since 2015 we are confident that DANA fits within our existing point-of-care product portfolio and are excited by the opportunity to commercialise the product through established Cambridge Cognition sales channels to new and existing customers, particularly European militaries and occupational health organisations."
Enquiries
Cambridge Cognition Holdings plc | www.cambridgecognition.com |
Steven Powell, Chief Executive Officer Noah Konig, Director of Product Marketing and Communications | Tel: 01223 810 700 press@camcog.com |
finnCap Ltd (NOMAD and Joint Broker) | Tel: 020 7220 0500 |
Geoff Nash / Simon Hicks | (Corporate Finance) |
Alice Lane | (Corporate Broking)
|
Hybridan LLP (Joint Broker) Claire Noyce | Tel: 020 3764 2341 (Corporate Broking) |
About Cambridge Cognition
Cambridge Cognition is a leading neuroscience technology company delivering near-patient assessment solutions to improve the understanding, diagnosis and treatment of neurological and psychiatric disorders.
For over 30 years the Company's innovative CANTAB® technology has advanced the assessment of cognition in global scientific research; clinical trials; and clinical practice, accelerating the development of safe and effective treatments, improving patient outcomes and to helping assess, monitor and manage cognitive health throughout life.
Customers and partners include the world's leading biotechnology and pharmaceutical companies; renowned academic institutions; and public-private healthcare providers.
For further information, visit www.cambridgecognition.com
About AnthroTronix Incorporated
AnthroTronix, an engineering research and development company, produces human-centred technologies that advance health, communication, education and defence. It develops innovative, research-based technologies that influence change and enhance lives around the world. The Company has been recognised among Inc. Magazine's "5000 Fastest Growing Companies" and selected by the World Economic Forum as a Technology Pioneer Company. For more information visit www.atinc.com or follow on Twitter at @AnthroTronix.