Cambridge Cognition Holdings PLC Strategic Partnership for Chinese Market Expansion (4044H)
24 Noviembre 2022 - 1:00AM
UK Regulatory
TIDMCOG
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
For further information, contact:
Cambridge Cognition Holdings Plc Tel: 012 2381 0700
Matthew Stork, Chief Executive Officer press@camcog.com
Stephen Symonds, Chief Financial Officer
Panmure Gordon (UK) Limited (NOMAD and Joint Tel: 020 7886 2500
Broker) (Corporate Finance)
Freddy Crossley / Emma Earl (Corporate Broking)
Rupert Dearden
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
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/
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