Cambridge Cognition Holdings PLC GBP2.1 million contracts for rare disease trials (8846V)
12 April 2023 - 8:00AM
UK Regulatory
TIDMCOG
RNS Number : 8846V
Cambridge Cognition Holdings PLC
12 April 2023
Cambridge Cognition Holdings Plc
(" Cambridge Cognition" or the "Company")
Cambridge Cognition awarded two contracts worth GBP2.1 million
for rare disease trials
Cambridge Cognition (AIM: COG), which develops and markets
digital solutions to assess brain health, is pleased to announce
that it has won two sizeable contracts, together worth over GBP2.1
million, to provide the Company's CANTAB(R) cognitive assessments
and electronic Clinical Outcome Assessments ("eCOA") for two
pivotal trials involving patients with a rare disease. The
contracts have been awarded by a new customer for the Company with
revenues expected to be recognised over the next five years.
A rare disease is a condition that affects fewer than one in
2,000 people within the general population. While each individual
disease may only affect a small amount of people, collectively,
rare diseases affect about 6-8% of the population. Rare diseases
are often associated with neurodevelopmental issues and cognitive
dysfunction. Cambridge Cognition are widely recognised for
proprietary cognitive assessments (CANTAB(R)) that are sensitive to
the specific neural pathways impacted by disorders and improved by
therapeutics. The Company therefore provides a valuable solution
for pharmaceutical companies developing new drugs for a rare
disease that may help improve the patient's cognitive function.
Every clinical trial includes questionnaires and is seeking a
seamless experience for both patient and site. Recognising this
need, Cambridge Cognition offers both eCOA and cognitive
assessments in a single, easy-to-use platform. This unique product
offering combined with the Company's extensive multi-site,
multi-country project management experience secured Cambridge
Cognition these two pivotal trials with a new customer.
Participation in these trials will enable Cambridge Cognition to
offer more insights into the use of digital cognitive assessments
and eCOA solutions as part of rare disease trials, including how
effective these methods are for use in long-term studies.
Commenting, Matthew Stork, Chief Executive Officer of Cambridge
Cognition, said: "Over the past five years Cambridge Cognition has
developed a unique offering for clinical trials of leading
cognitive assessments (CANTAB(R)) and electronic questionnaires
(eCOA) in a single, easy-to-use platform. This, combined with our
reputation for outstanding customer service and cutting-edge
science, has enabled us to secure two large contracts with a new
customer. These contracts will strengthen our presence in the rare
disease field and showcase how our cognitive assessments can be
used effectively in the development of symptom modifying
treatments."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 as it forms part of UK
law by virtue of the European Union (Withdrawal) Act 2018.
Enquiries
Cambridge Cognition Holdings Plc Tel: 012 2381 0700
Matthew Stork, Chief Executive Officer press@camcog.com
Stephen Symonds, Chief Financial Officer
Panmure Gordon (UK) Limited (NOMAD and Joint Tel: 020 7886 2500
Broker) (Corporate Finance)
Freddy Crossley / Emma Earl (Corporate Broking)
Rupert Dearden
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 cog@investor-focus.co.uk
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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