Human Abuse and Liability trial contracts won

RNS Number : 5596K

Cambridge Cognition Holdings PLC

26 June 2014

 



Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Significant Human Abuse and Liability trial contracts won

Cambridge Cognition Holdings plc, (AIM: COG), which specialises in computerised neuropsychological tests including those enabling the acceleration of safe and effective medicines in drug development, announces that it has now signed contracts with various leading pharmaceutical companies for eight human abuse and liability studies worth a total of approximately £710,000.

It is expected that over £535,000 of this will be recognised in the financial year ending 31 December 2014. Together with the recent signing of a significant phase III drug characterisation contract the Directors remain confident of achieving full year expectations.

As signalled at the Preliminary Results, the Company had identified a number of Human Abuse Liability studies where pharmaceutical companies are required to evaluate the abuse potential of drugs that are known to have an effect on the central nervous system. Cambridge Cognition has quickly established a leading position in computerised assessment of Human Abuse Liability, now leveraging the recently launched cloud-based Cantab Connect platform.

The Company also launched a new product, CTIS-Abuse Liability, on 3 June 2014. The new product enables biotech and pharmaceutical companies to conduct faster, more accurate studies using an iPad, further enhancing Cambridge Cognition's leadership in the Human Abuse Liability assessment market.

Nick Kerton, Chief Executive Officer of Cambridge Cognition, said: "These contract wins further reinforce our decision to focus on clinical trials that deal with Human Abuse Liability and drug characterisation and safety. We have seen increasing demand for Cantab technology used in trials to measure the cognitive properties of drugs and with the recent new product launches we expect to further build on our leading position in this area."

Enquiries:

Cambridge Cognition Holdings plc	www.cambridgecognition.com
Nick Kerton, Chief Executive Officer	Tel: [phone]
Nick Walters, Chief Financial Officer
finnCap Ltd (Nomad and Broker)	Tel: [phone]
Matthew Robinson/Henrik Persson/Simon Hicks	(Corporate Finance)
Elizabeth Johnson	(Corporate Broking)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus	Mob: [phone]
Lianne Cawthorne	Mob: [phone]

 

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