Cambridge Cognition Holdings PLC GBP1.4m of contracts for digital health & wearables
14 Junio 2021 - 1:00AM
RNS Non-Regulatory
TIDMCOG
Cambridge Cognition Holdings PLC
14 June 2021
14 June 2021
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
Cambridge Cognition awarded contracts totalling GBP1.4m for
digital health
and wearable device provision for 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 won a series of contracts from a global
pharmaceutical company to provide specialist clinical trial
management services. Under the contracts, the Company will evaluate
a range of digital health and wearable devices and supply the
devices with associated software and services for four clinical
trials, which will assess a drug compound for Central Nervous
System ("CNS") disorders. Cambridge Cognition secured the contracts
on the strength of its CNS, digital health, clinical trial and
regulatory expertise.
The Company has won four contracts for this work, one in late
2020 and three more at this time. The contracts, expected to
generate total revenues of c. GBP1.4m over two years, are for the
supply of software and services as well as the procurement and
provision of third-party hardware, which makes up a considerable
portion of the total contract value. As a result of the significant
hardware component, the overall margin on the four contracts is
lower than the Company would normally generate from a software and
services led contract.
Pharmaceutical companies are increasingly using digital
solutions in virtual or part-virtual clinical trials. Cambridge
Cognition meets this evolving demand by providing a full service
offering, from gold-standard assessments and specialist
consultancy, through to secure data repositories and 24/7 trial
support. In delivering these contracts, Cambridge Cognition will
leverage its depth of experience in selecting and supplying devices
for CNS clinical trials, meeting regulatory and good clinical
practice guidance and providing novel endpoints for pharmaceutical
clients.
Matthew Stork, Chief Executive Officer of Cambridge Cognition,
said:
"Cambridge Cognition has earned a reputation for delivering
cutting-edge digital health solutions with an infrastructure that
meets regulatory demands and satisfies clients' needs for clinical
trials. We were approached for this work, the first of its kind for
the Company, on the strength of this reputation. The result is a
new service offering as well as an enhanced relationship with a
leading pharmaceutical client."
For further information, contact:
Cambridge Cognition Holdings Plc Tel: 012 2381 0700
Matthew Stork, Chief Executive Officer press@camcog.com
Michael Holton, Chief Financial Officer
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
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
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