New £0.5m contract for cognitive at home testing

RNS Number : 7461U

Cambridge Cognition Holdings PLC

08 April 2021

 

Cambridge Cognition Holdings Plc

("Cambridge Cognition" or the "Company")

New £0.5m 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 £0.5 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™ cognitive assessments.  While CANTAB™ 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™ 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™. 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 Matthew Stork, Chief Executive Officer Michael Holton, Chief Financial Officer	Tel: [phone] [e-mail]
finnCap Ltd (NOMAD and Joint Broker) Geoff Nash / Simon Hicks Alice Lane / Charlotte Sutcliffe	Tel: [phone] (Corporate Finance) (Corporate Broking)
Dowgate Capital Limited (Joint Broker) David Poutney / James Serjeant	Tel: [phone]
IFC Advisory Ltd (Financial PR and IR) Tim Metcalfe / Graham Herring / Zach Cohen	Tel: [phone]

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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