Cambridge Cognition Holdings PLC New GBP2.2 million contract (2335D)
28 Junio 2021 - 1:00AM
UK Regulatory
TIDMCOG
RNS Number : 2335D
Cambridge Cognition Holdings PLC
28 June 2021
Cambridge Cognition Holdings Plc
(" Cambridge Cognition" or the "Company")
New GBP2.2 million contract for at-home cognitive testing in a
virtual clinical trial
Cambridge Cognition Holdings Plc (AIM: COG), which develops and
markets digital solutions to assess brain health, has been selected
as the cognitive assessment partner for a large at-home study. The
contract is valued at GBP2.2 million with revenue expected to be
recognised by the Company over three years beginning in H2 2021.
This is the second, large, at-home cognitive testing contract the
Company has secured in two months. The previous one was announced
on 8 April 2021 with a value of GBP0.5 million.
In delivering the contract, the Company will deploy web-based
cognitive assessments (CANTAB(TM) ) monthly. Cognition can
fluctuate over the course of a day as well as over longer periods,
therefore participants will be asked to periodically undertake
short digital cognitive assessments up to three times a day.
Cambridge Cognition is uniquely positioned to secure this
contract as its proprietary CANTAB(TM) cognitive assessments
produce comparable performance whether delivered under supervision
in clinics or unsupervised at home(1,) . The Company also offers
rapid assessments that have been validated for high-frequency
testing on smartphones(2) .
Matthew Stork, Chief Executive Officer of Cambridge Cognition,
said:
"As widely predicted, the COVID-19 pandemic has accelerated
interest in virtual clinical trial assessments and Cambridge
Cognition is well positioned to benefit from the consequent
substantial growth opportunities. We are pleased to have secured
another large contract for a virtual clinical trial where we will
be working with a leading pharmaceutical company in the sector. The
Company has established a robust science foundation and an
excellent customer service record and this combination continues be
rewarded by securing contracts for the growing field of virtual
clinical trials."
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
2. Allen L, Baker E, Thorp E et. Validation and Comparison of a
Digital Digit Symbol Substitution (DSST) Task Performed on Smart
Phones With a Traditional Paper-Pencil Version. Biological
Psychiatry 2020; 88(9). DOI:
https://doi.org/10.1016/j.biopsych.2021.02.342
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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