Last checked at 26 Jun 2013 07:00
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Progress update on CANTABmobile™
Cambridge Cognition Holdings plc, (AIM: COG), which specialises in computerised neuropsychological tests including those enabling the early detection of dementia, is pleased to provide an update on its CANTABmobile™ product after the Company's admission to AIM on 18 April 2013.
CANTABmobile is an approved CE-marked Class II medical device, which addresses the need to rapidly detect early memory loss or signs of cognitive impairment. The product, which runs on an iPad, is targeted at mainstream primary healthcare markets and is based on tests previously only available, through the Company's other product offerings, to pharmaceutical companies and academia for specialist trials and research.
Guildford and Waverley CCG is the latest clinical commissioning group ("CCG") to roll out CANTABmobile into GP practices, whilst trials of CANTABmobile continue with over 60 CCGs around the UK. Currently CANTABmobile™ has 16 customers, including 6 CCGs, as well as a number of private healthcare groups and a pharmacy chain, each in the UK, and a clinical centre in Germany.
Ongoing trials with CCGs are expected to convert into licence sales in the coming months as a dedicated sales and marketing function for CANTABmobile is established, and discussions continue with a number of possible channel partners to help accelerate the adoption of CANTABmobile™ in the UK and beyond. The build-up of this sales and marketing function continues in line with expectations, with four new sales hires joining shortly, and the Company looks forward to appointing a senior sales manager in due course. The Company anticipates that the benefit of this investment will be seen as the Company enters the second half of the financial year.
Commenting, Ruth Keir, Chief Executive Officer of Cambridge Cognition, said: "We are delighted to announce that Guildford and Waverley is an early adopter of CANTABmobile. There has been significant interest in the UK primary care sector for our technology, with over 60 CCGs current trialling the software, but it is also pleasing to see our customer base diversifying beyond this market. Our progress in establishing our sales and marketing team for CANTABmobile™ and the development of our secondary health product remains on track and I look forward to providing further updates as we continue to progress."
Commenting Dr. Jonathan Inglesfield, Medical Director (commissioning) and Mental Health Lead for Guildford and Waverley CCG, said: "CANTABmobile gives our GPs a more sophisticated and accurate early level of dementia assessment. This technology is particularly beneficial for identifying those patients with subtle memory loss that can be indicative of dementia, which can be very difficult to diagnose through traditional pen and paper cognitive assessments."
Enquiries:
Cambridge Cognition Holdings plc | Tel: 01223 810 700 | |
Ruth Keir, Chief Executive Officer | ||
finnCap Ltd (Nomad and Broker) | Tel: 020 7220 0500 | |
Matthew Robinson/Henrik Persson/ Simon Hicks | (Corporate Finance) | |
Simon Starr | (Corporate Broking) | |
Walbrook PR Ltd | Tel: 020 7933 8780 or camcog@walbrookpr.com | |
Paul McManus | Mob: 07980 541 893 | |
Lianne Cawthorne | Mob: 07584 391 303 | |
Further information
Guildford and Waverley CCG is committed to improving dementia diagnosis and to meeting the targets set out in the Prime Minister's Dementia Challenge. Less than half of the estimated 800,000 NHS patients with dementia have a diagnosis, and the Government's target aims to achieve a diagnosis rate of 80 per cent. The CANTABmobile assessment will also be used by GPs in Guildford and Waverley to test patients as part of the new NHS Dementia Directed Enhanced Service (DES) which is supports a proactive approach to the timely assessment of patients who may be at risk of dementia.
About Cambridge Cognition
Cambridge Cognition is a world leading provider of computerised cognitive assessment products. The company's range of touch-screen CANTAB™ neuropsychological tests, highly validated over one thousand peer-review publications, are used by both academic scientists in their research, and clinical researchers in the pharmaceutical industry, to maximise knowledge of cognitive function. In addition, the company is committed to broadening the access to this technology and is developing clinical healthcare products under the CANTABmobile brand, to improve the monitoring, management and maintenance of cognitive health and wellbeing. Using these assessments, clinicians can identify and stratify patients so that patient referrals are accurate and efficient, enabling health and social care providers to deliver more effective advice, treatments and care - leading to better outcomes for patients and their families.