REG - Cambridge Cognition - £1.3m digital health contract win

Cambridge Cognition HoldingsAnnouncement

19/03/2019 07:05

RNS Number : 2182T
Cambridge Cognition Holdings PLC
19 March 2019
 


Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')

£1.3m digital health contract win
 
The neuroscience technology company Cambridge Cognition Holdings plc (AIM: COG), which develops and markets neuroscience technologies to assess brain health, today announces a significant new contract providing digital health technologies to a major pharmaceutical company for application in a clinical stage development programme.
 
The contract is worth £1.3 million with revenue expected to be recognised over three years. It is the largest digital health contract signed since the Company created its commercial digital health business unit in 2017.  This contract win adds to the healthy order book which now stands at approximately £7.0m giving good visibility for 2019 and beyond.
 
Cambridge Cognition's technology will enable patients diagnosed with an autoimmune disorder to be followed during a clinical trial, completing cognitive testing both at site and remotely using a mobile testing platform for smartphones. This approach will provide the sponsor with data on individual day-to-day variability in cognitive performance that is otherwise difficult to capture and quantify. The platform will also integrate passive physiological data captured in real time on a wearable device, adding physical context for participants' behaviours.
 
Dr Steven Powell, Chief Executive Officer, Cambridge Cognition said: "Following the recent share placing to finance the expansion of our operations and strengthening of the balance sheet we are pleased to welcome another pharmaceutical partner to our growing client base which is utilising our innovative digital health technologies. This contract win underlines the importance of our continuing investment in development of digital health technologies in the neuroscience space. It also demonstrates the importance of building a European digital health team in the mould of our Boston based group and we can now do this following the successful financing round".
 
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
 
Enquiries
 



Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Officer
Matthew Stork, Chief Operating Officer


 
Tel: 01223 810 700
press@camcog.com




finnCap Ltd (NOMAD and Joint Broker)
Geoff Nash / Simon Hicks
Alice Lane/Manasa Patil


Tel: 020 7220 0500
(Corporate Finance)
(ECM)
 




Dowgate Capital Stockbrokers Limited (Joint Broker)
David Poutney / James Serjeant


Tel: 020 3903 7715
 




IFC Advisory Ltd (Financial PR and IR)
Graham Herring / Miles Nolan / Zach Cohen


Tel: 020 3934 6630
 




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 reduce global R&D and healthcare costs.
 
For further information visit www.cambridgecognition.com




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