REG - Cambridge Cognition - Monument Therapeutics secures £1m investment

Cambridge Cognition HoldingsAnnouncement

06/11/2024 07:00

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RNS Number : 0762L  Cambridge Cognition Holdings PLC  06 November 2024

 

6 November 2024

 

Cambridge Cognition Holdings plc

("Cambridge Cognition", the "Company" or the "Group")

 

Cambridge Cognition spin-out, Monument Therapeutics, receives £1.0 million
for schizophrenia clinical development

 

Cambridge Cognition Holdings plc (AIM: COG), the brain health software group,
is pleased to announce that its spin-out company, Monument Therapeutics
Limited ("Monument"), has secured an investment of £1.0 million from the
Forster Foundation at a post investment valuation of £8.35 million.

 

Since becoming an independent business in 2021, Monument has focused on a
unique drug development strategy, leveraging Cambridge Cognition's digital
cognitive assessments to match patients with new pharmaceutical treatments.
This latest investment builds on the funding announced on 23 April 2024 and
will help support the clinical development of MT1988, a novel treatment for
the cognitive symptoms of schizophrenia.

 

If successful in clinical development Monument's MT1988 is anticipated to be
complementary to existing drugs for schizophrenia; including those recently
approved by regulatory authorities.

 

Cambridge Cognition holds a 22.1% shareholding in Monument following this
financing and intends to review the valuation of its shareholding and
anticipates a significant increase on a mark-to-market basis.

 

Dr Steven Powell, Chair of Cambridge Cognition, commented:

"We congratulate the Monument team on their progress since establishing the
business in 2021.  The advancement of their pipeline demonstrates the value
of Cambridge Cognition's technology and the innovative ways to leverage its
intellectual property within drug development."

 

 

Enquiries:

 

 Cambridge Cognition Holdings plc                    Tel: 012 2381 0700

 Dr Steven Powell, Chairman                          press@camcog.com (mailto:press@camcog.com)
 Panmure Liberum Limited (NOMAD and Joint Broker)    Tel: 020 7886 2968

 Will Goode / Freddy Crossley / Mark Rogers          (Corporate Finance)

 Rupert Dearden                                      (Corporate Broking)

 Dowgate Capital Limited (Joint Broker)              Tel: 020 3903 7715

 David Poutney / James Serjeant

 Hudson Sandler (Financial PR and IR)                Tel: 020 7796 4133

 Dan de Belder / Hattie Dreyfus / Harry Griffiths    cog@hudsonsandler.com (mailto:cog@hudsonsandler.com)

 

Notes to Editors

 

About Cambridge Cognition

 

Cambridge Cognition is a leading technology company specializing in digital
health products that advance brain health research and treatment.

 

The company offers three core products: CANTAB® assessments-providing
scientifically validated, highly sensitive, precise, and objective measures of
cognitive function correlated to neural networks; a flexible and proven eCOA
platform with an extensive library of instruments, enabling efficient study
setup and scalable data capture; and quality assurance tools that ensure data
integrity by automatically detecting deviations in administration and scoring,
saving time and money. These products collectively improve clinical trial
outcomes, enable early patient identification, and enhance global efficiency
in healthcare and pharmaceuticals.

 

For further information, visit: www.cambridgecognition.com
(https://eur01.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.cambridgecognition.com%2F&data=05%7C02%7Chgriffiths%40hudsonsandler.com%7Cc696c6a3150d40f91a9508dcfdd13b58%7Ca33bdb157e25438ab1fd5c523a8866f9%7C0%7C0%7C638664322305026349%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=vQVOIVxNQ8WYYOufDnSVKUH0oa7PLvXjnP0VT%2FzCfJc%3D&reserved=0)

 

 

About Monument Therapeutics

 

Monument Therapeutics is bringing stratified medicine to CNS drug development.
The company uses proprietary digital biomarkers to reduce heterogeneity and
identify patients with homogenous underlying neurobiology, which are then
matched with appropriately targeted compounds. Monument Therapeutics has a
pipeline of promising drug development programmes, with the most advanced two
being for cognitive impairment in schizophrenia and neuroinflammation. For
further information visit www.monumenttx.com (http://www.monumenttx.com)

 

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