REG - Cambridge Cognition - Major contract win combining solutions

Cambridge Cognition HoldingsAnnouncement

11/10/2023 07:00

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RNS Number : 6994P  Cambridge Cognition Holdings PLC  11 October 2023

Cambridge Cognition Holdings Plc

 

("Cambridge Cognition" or the "Company")

 

Major contract win combining Cambridge Cognition

 and Winterlight solutions

 

Cambridge Cognition (AIM: COG), which develops and markets digital solutions
to assess brain health, is pleased to announce that it has secured a
significant contract for a sizeable later stage clinical trial, following a
competitive tender. The contract combines the Company's proprietary CANTAB(®)
touch-screen cognitive assessments with verbal assessments from its recent
Winterlight Labs acquisition, for the first time.  Additionally, the Company
will supply its electronic Clinical Outcome Assessments ("eCOA") and provide
full training for clinicians, together with quality control services.

This initial contract is valued at approximately £1 million and revenue is
expected to be recognised over a two-year period, starting in 2023. There is
potential for a further contract with the same customer, of slightly higher
value, in 2024 once the initial results have been analysed from this trial.

Cambridge Cognition and its Winterlight business are recognised as world
leaders in accurate cognitive assessment for neurodegenerative disease trials.
 Having acquired Winterlight in January 2023, Cambridge Cognition developed
an integrated front-end within the first few months post-acquisition and now
offers the broadest proprietary solution for touchscreen and voice assessments
in clinical trials.  Cambridge Cognition is the only company that can offer
this unique set of cognitive assessments and eCOA as a single vendor solution.

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

"Cambridge Cognition acquired Winterlight to have the broadest offering on the
market. With this contract win, we are realising the benefits of the
acquisition. We're excited to be providing full clinical assessment services
for a large clinical trial to a new customer, that we would have been unlikely
to win without having made the Winterlight acquisition.  We can expect to win
more contracts like this over time as we continue to commercialise the
combined solutions."

 

Enquiries

 

 Cambridge Cognition Holdings Plc                           Tel: 012 2381 0700 

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

 Stephen Symonds, Chief Financial Officer 

 Panmure Gordon (UK) Limited (NOMAD and Joint Broker)       Tel: 020 7886 2500 

 Freddy Crossley / Emma Earl                                (Corporate Finance) 

 Rupert Dearden                                             (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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