TIDMCOG
RNS Number : 7452D
Cambridge Cognition Holdings PLC
01 July 2021
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company" or the "Group")
Spin-out of Monument Therapeutics
Cambridge Cognition Holdings Plc (AIM: COG), which develops and
markets digital solutions to assess brain health, is pleased to
announce the completion of the spin-out of Monument Therapeutics
Limited ("Monument Therapeutics"), a drug development company
applying digital phenotyping to central nervous system ("CNS")
disorders.
Cambridge Cognition has been incubating Monument Therapeutics
since 2018, with early-stage research supported by two Innovate UK
grants. Monument Therapeutics applies a novel drug development
strategy, leveraging digital assessments of cognition to match
patients with new pharmaceutical treatments. Monument Therapeutics
has a pipeline of promising drug development programmes, with the
most advanced two being for cognitive impairment in schizophrenia
and for post-operative cognitive dysfunction ("POCD").
The initial targets are both areas of unmet clinical need with
limited treatment options. Schizophrenia affects around 20 million
people worldwide(1) and there are no approved treatments for the
common and disabling cognitive impairment associated with the
disorder.
POCD is a condition arising from major surgery, which can result
in cognitive impairment for patients over the age of 65 both
immediately (50-80% at discharge(2) ) and persistently (10-30% six
months post-surgery(,3) ). Almost 250 million major surgical
procedures are performed globally every year(4) , but there is no
dedicated treatment for POCD.
In both approaches, Monument Therapeutics is de-risking
development by repurposing drugs with a favourable safety profile
and proven mechanisms of action, combining these with proprietary
cognitive stratification tools licensed from Cambridge
Cognition.
To develop these programmes as an independent company, Monument
Therapeutics has secured GBP2.6 million in funding from a
consortium of investors led by Catapult Ventures and Neo Kuma
Ventures. Cambridge Cognition has retained a 36.9% shareholding in
Monument Therapeutics and has agreed a license for the use of a
number of its gold-standard cognitive assessments, including
CANTAB(TM) , for patient stratification. Furthermore, upon
successful commercialisation of its drug development programmes,
Monument Therapeutics will pay royalties to Cambridge
Cognition.
Jenny Barnett has been appointed as Chief Executive Officer of
Monument Therapeutics and she will continue to work with Cambridge
Cognition as its Chief Scientific Officer on a part time basis.
Matthew Stork, Chief Executive Officer of Cambridge Cognition,
said:
"By establishing Monument Therapeutics, we have created an
exciting new venture to develop stratified medicine in CNS drug
development that could help many patients with unmet clinical
needs. It leverages Cambridge Cognition's intellectual property and
provides the potential for considerable royalty payments in the
future. In addition, it gives the Company greater focus on the
development and commercialisation of its cutting-edge digital
health technologies."
Jenny Barnett, Chief Executive Officer of Monument Therapeutics,
said:
"A major challenge when developing drugs for patients with
psychiatric and neurological conditions is that clinical diagnoses
are usually imprecise: two people with the same diagnosis may have
little overlap in their signs and symptoms. Fortunately, digital
phenotyping can help to stratify these patients, much as areas such
as oncology have done with genetic testing. In pursuit of this
goal, Monument Therapeutics has put together a team with deep drug
development knowledge coupled with unique digital biomarker
expertise to bring innovative stratified treatments to market. We
are grateful to Cambridge Cognition for incubating the company and
for the funding received from the incoming investors."
References
1. Disease and Injury Incidence and Prevalence Collaborators.
Global, regional, and national incidence, prevalence, and years
lived with disability for 354 diseases and injuries for 195
countries and territories, 1990-2017: a systematic analysis for the
Global Burden of Disease Study 2017. The Lancet; 2018 (
https://doi.org/10.1016/S0140-6736(18)32279-7 )
2. Rasmussen, L.S. (2006) Postoperative cognitive dysfunction:
Incidence and prevention. Best Pract. Res. Clin. Anaesthesiol. 20,
315 - 330
3. Newman, M.F. et al. (2001) Longitudinal assessment of
neurocognitive function after coronary-artery bypass surgery. N.
Engl. J. Med. 344, 395-402 18
4. Weiser et al (2008) An estimation of the global volume of
surgery: a modelling strategy based on available data Lancet 2008;
372: 139-44
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
About Monument Therapeutics
Monument Therapeutics is bringing stratified medicine to CNS
drug development. The company uses proprietary digital biomarkers
to reduce heterogeneity among patients, and then match them with
appropriately targeted compounds.
For further information visit www.monumenttx.com
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