Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
£1.6m contract for phase III cognitive safety trial
Cambridge Cognition Holdings plc, (AIM: COG), which specialises in computerised neuropsychological tests including those enabling the early detection of dementia, announces the signing of a significant contract for a global multi-year study in which Cantab Solutions technology will be used to assess the cognitive safety of a new medicine under development for cardiovascular disease.
The contract, with a major biopharmaceutical company, is worth £1.6 million to Cambridge Cognition, with £0.8 million revenue to be recognised in the 2014 financial year. The significant value of this contract gives the Directors confidence in achieving full year expectations.
The appointment to this major study is indicative of a significant increase in demand for Cantab technology for use in studies designed to demonstrate the cognitive safety of new and in-market drugs. Regulatory bodies such as the FDA are increasingly alerting companies to the need to assess the potential neurocognitive side effects of in-market and experimental drugs across a wide range of compounds and disorders.
Nick Kerton, Chief Executive Officer of Cambridge Cognition, said: "This adoption of our technology in the area of cognitive safety is an endorsement of our strategic move into other clinical trials that focus on drug safety and Human Abuse Liability as announced at the publication of our Final Results.
"From the perspective of our pharmaceutical and biotech clients, they can use our Cantab Solutions technology, to provide an objective and scientifically rigorous measurement of the cognitive properties of investigational drugs rapidly and at scale in a cost-efficient manner. These assessments are increasingly a routine component of drug development programmes both in CNS conditions but also in other disorder groups such as cardiovascular, metabolic and oncology, where the cognitive safety of these key drugs are paramount."
Enquiries:
Cambridge Cognition Holdings plc |
www.cambridgecognition.com |
Nick Kerton, Chief Executive Officer |
Tel: 01223 810 700 |
Nick Walters, Chief Financial Officer |
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finnCap Ltd (Nomad and Broker) |
Tel: 020 7220 0500 |
Matthew Robinson/Henrik Persson/Simon Hicks |
(Corporate Finance) |
Elizabeth Johnson |
(Corporate Broking) |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or [email protected] |
Paul McManus |
Mob: 07980 541 893 |
