Cambridge Cognition Holdings PLC New GBP0.5m contract for cognitive at home testing (7461U)
08 Abril 2021 - 1:00AM
UK Regulatory
TIDMCOG
RNS Number : 7461U
Cambridge Cognition Holdings PLC
08 April 2021
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
New GBP0.5m contract for cognitive at home testing
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 contract with a new pharmaceutical
client to provide cognitive assessments in an at-home clinical
trial. The contract is worth approximately GBP0.5 million with most
of the revenue expected to be recognised in 2021.
The COVID-19 pandemic has accelerated interest in virtual or
decentralised clinical trials, with more assessments being planned
at home and therefore out of the clinic setting. To date there are
just under 2,500 publications validating the Company's CANTAB(TM)
cognitive assessments. While CANTAB(TM) has been used for many
years in clinics, with the assessment being overseen by clinical
staff, use at home has been growing, supported by evidence showing
that performance is comparable.(1)
This clinical trial aims to use CANTAB(TM) to assess patients'
cognition from the comfort of their homes. The trial is being
sponsored by a leading pharmaceutical company with a pipeline of
CNS drugs that the Company anticipates may benefit from cognitive
assessments.
Matthew Stork, Chief Executive Officer of Cambridge Cognition,
said:
"We are delighted to have secured this contract and to be
supporting another major pharmaceutical company to assess cognition
in patients' homes. This is a trend that we expect to continue and
will therefore provide more growth opportunities for Cambridge
Cognition in the future."
References
1. Backx R, Skirrow C, Dente P, Barnett JH, Cormack FK.
Comparing Web-Based and Lab-Based Cognitive Assessment Using
CANTAB(TM). J Med Internet Res 2020;22(8):e16792. doi:
10.2196/16792
This announcement contains information which, prior to its
disclosure, was considered inside information for the purposes of
Article 7 of Regulation (EU) No 596/2014 (MAR).
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
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
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END
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