REG - Cambridge Cognition - Strategic Partnership for Chinese Market Expansion

Cambridge Cognition HoldingsAnnouncement

24/11/2022 07:01

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RNS Number : 4044H  Cambridge Cognition Holdings PLC  24 November 2022

 

Cambridge Cognition Holdings Plc

("Cambridge Cognition" or the "Company")

 

Strategic Partnership for Chinese Market Expansion

 

Cambridge Cognition Holdings Plc (AIM: COG), which develops and markets
digital solutions to assess brain health, is pleased to announce an expansion
in the Chinese market through a strategic partnership with Luca Healthcare
Limited ("Luca Healthcare"), a category leader in digital screening, treatment
and management tools in China.  Cambridge Cognition has signed an exclusive
licencing agreement with Luca Healthcare to commercialise the Company's suite
of leading cognitive assessment tools in China for both the pharmaceutical and
healthcare markets.

 

The strategic partnership provides Cambridge Cognition with an efficient and
low risk geographic expansion whilst leveraging the Company's recent projects
to go live in an Amazon Web Service ("AWS") data centre in China and implement
a range of Chinese languages.  Cambridge Cognition will be paid through a mix
of milestone payments and royalties.  As well as a commercial license, the
partnership includes the opportunity to collaborate on co-developments to
improve both companies' solutions.

 

China is the second most active clinical trial market in the world after the
US, having hosted nearly 10,000 industry sponsored trials in the last five
years with 14% being in Central Nervous System conditions(1). The healthcare
market opportunity in China for cognitive impairment diagnostics may also be
considerable with nearly 40 million people affected by mild cognitive
impairment and nearly 10 million living with Alzheimer's disease(2).

 

Cambridge Cognition has been laying the groundwork to successfully capitalise
on this significant market opportunity since 2019 by establishing a dedicated
service in the region delivered from a secure cloud infrastructure provided by
AWS in China; developing task variants in the most common spoken (Cantonese
and Mandarin) and written (Chinese simplified) languages; and building on an
existing relationship with one of the leading Chinese universities, Fudan
University, Shanghai.

 

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

"The Chinese pharmaceutical and healthcare markets offer a significant
commercial opportunity for Cambridge Cognition, and we have partnered with
Luca Healthcare to capitalise on this. The team at Luca Healthcare have
impressed us with their speed to commercialise other digital healthcare
solutions, working with leading pharmaceutical companies in the region and, as
a result, building a fast growth business."

 

Echo Chen, Chief Executive Officer of Luca Healthcare, said:

"We are absolutely thrilled to be working with a great team and the most
validated cognition assessment tool in the world. Luca's mission is to make
healthcare more affordable and more accessible; this partnership certainly
gives us an opportunity to do that for those impacted by neurodegenerative
disorders in China."

 

References

1.    GlobalData. Industry Sponsored Trials in China 17/11/2017 -
17/11/2022.

2.    The China Alzheimer's Report 2022, BMJ General Psychiatry, Vol 35-1
(https://gpsych.bmj.com/content/35/1/e100751)

 

For further information, contact:

 

 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)

 

About Luca Healthcare

 

Luca Healthcare's mission is to provide affordable, accessible, and clinically
validated software-based screening, tracking and treatment to a wider patient
population in China through first-in-class innovation and global partnerships.
The company develops and in-licenses clinically validated digital assessment
tools, digital biomarkers and digital therapeutics to measure and to intervene
diseases and conditions in neurodegenerative, cardiovascular, respiratory and
ophthalmology therapeutic areas. Luca collaborates with world-class partners
across a diverse array of therapeutic and geographic areas to build out a
pipeline based on disease relevance and the ability to impact patients.

 

For further information visit https://www.lucahealthcare.cn/
(https://www.lucahealthcare.cn/)

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