Last checked at 8 Apr 2021 07:00
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
New £0.5m contract for cognitive at home testing
Cambridge Cognition Holdings plc (AIM: COG), which develops and markets digital solutions to assess brain health, is pleased to announce that it has won a contract with a new pharmaceutical client to provide cognitive assessments in an at-home clinical trial. The contract is worth approximately £0.5 million with most of the revenue expected to be recognised in 2021.
The COVID-19 pandemic has accelerated interest in virtual or decentralised clinical trials, with more assessments being planned at home and therefore out of the clinic setting. To date there are just under 2,500 publications validating the Company's CANTAB™ cognitive assessments. While CANTAB™ has been used for many years in clinics, with the assessment being overseen by clinical staff, use at home has been growing, supported by evidence showing that performance is comparable.1
This clinical trial aims to use CANTAB™ to assess patients' cognition from the comfort of their homes. The trial is being sponsored by a leading pharmaceutical company with a pipeline of CNS drugs that the Company anticipates may benefit from cognitive assessments.
Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
"We are delighted to have secured this contract and to be supporting another major pharmaceutical company to assess cognition in patients' homes. This is a trend that we expect to continue and will therefore provide more growth opportunities for Cambridge Cognition in the future."
References
1. Backx R, Skirrow C, Dente P, Barnett JH, Cormack FK. Comparing Web-Based and Lab-Based Cognitive Assessment Using CANTAB™. J Med Internet Res 2020;22(8):e16792. doi: 10.2196/16792
This announcement contains information which, prior to its disclosure, was considered inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR).
For further information, contact:
Cambridge Cognition Holdings PLC Matthew Stork, Chief Executive Officer Michael Holton, Chief Financial Officer | Tel: 012 2381 0700 press@camcog.com |
finnCap Ltd (NOMAD and Joint Broker) Geoff Nash / Simon Hicks Alice Lane / Charlotte Sutcliffe | 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
|
Notes to Editors
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