REG - Cambridge Cognition - £2.1 million contract

Cambridge Cognition HoldingsAnnouncement

02/02/2022 07:00

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RNS Number : 3870A  Cambridge Cognition Holdings PLC  02 February 2022

( )

Cambridge Cognition Holdings Plc

("Cambridge Cognition" or the "Company")

 

Cambridge Cognition wins £2.1 million contract to provide digital assessments
for two neurodegenerative disease clinical trials

 

Cambridge Cognition Holdings Plc (AIM: COG), which develops and markets
digital solutions to assess brain health, is pleased to announce that it has
been awarded contracts worth £2.1 million to provide cognitive assessments,
electronic diaries, and third-party hardware for two clinical trials in
neurodegenerative disease.  Revenue is expected over the next three financial
years.

 

Neurodegenerative disease represents a major global medical need. If
treatments are not developed soon, then it is estimated that more than 12
million Americans will be living with neurodegenerative diseases by 2050(1).
Cognitive dysfunction is a hallmark of many neurodegenerative diseases and so
sensitive and specific cognitive assessment are essential in developing
effective treatments. With unrivalled use in over 2,500 peer-reviewed
publications, Cambridge Cognition's digital cognitive assessments offer
customers outstanding sensitivity and specificity.

 

A US biotechnology company that has worked with Cambridge Cognition previously
is investigating the effect of a new drug in two neurodegenerative diseases.
With some data being collected in clinic and further insights taken at home,
these two clinical trials are being run in a hybrid or part-virtual manner.

 

Cambridge Cognition has been contracted to deliver both elements: providing
gold-standard, computerized cognitive assessments (CANTAB(TM)) for use in
clinics, as well as daily tests of cognition and a patient diary to track
other symptoms via a mobile app.   This blend of in-clinic and at home
monitoring can provide much more detailed insights into the development of
disease over time and the efficacy of new pharmaceutical compounds. The
electronic diaries for the trials are being provided using the Company's
electronic Clinical Outcomes Assessment (eCOA) platform.  The Company is also
providing third party hardware for use in clinics and at home.

 

Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:

"We are delighted to have secured these sizeable contracts with an existing
client as they progress with further clinical trials of their new drug. They
already have an experience of CANTAB™ and so it is also excellent news that
our team have been successful in demonstrating the value of both our daily
cognitive tests and our eCOA platform, and with it considerably increasing the
value of the contracts."

 

References

1.        Harvard NeuroDiscovery Center.
https://neurodiscovery.harvard.edu/challenge
(https://neurodiscovery.harvard.edu/challenge)

For further information, contact:

 

 Cambridge Cognition Holdings Plc                         Tel: 012 2381 0700

 Matthew Stork, Chief Executive Officer                   press@camcog.com (mailto:press@camcog.com)

 Sally Jennings, Head of Marketing & Communications
 finnCap Ltd (NOMAD and Joint Broker)                     Tel: 020 7220 0500

 Geoff Nash / Simon Hicks                                 (Corporate Finance)

 Alice Lane / Charlotte Sutcliffe                         (Corporate Broking)
 Dowgate Capital Limited (Joint Broker)                   Tel: 020 3903 7715

 David Poutney / James Serjeant
 IFC Advisory Ltd (Financial PR and IR)                   Tel: 020 3934 6630

 Tim Metcalfe / Graham Herring / Zach Cohen

 

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
(http://www.cambridgecognition.com)

 

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