Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Sales of Cantab Connect iPad product exceed £1m in first 9 months
Cambridge Cognition Holdings plc, (AIM: COG), which specialises in computerised neuropsychological tests, announces that sales of Cantab Connect CTIS-Abuse Liability have exceeded £1m in its first 9 months from launch.
CTIS-AL is the first in the Cantab Connect cloud-based product range and is designed for the clinical assessment of a medication's potential for abuse. One of a family of drug safety products on the Cantab Connect platform, CTIS-AL has been joined by three further products since its launch in June 2014, with additional drug efficacy products scheduled for launch through 2015.
Prescription drug misuse continues to be the fastest growing drug problem in the US1, costing the US economy more than $53 billion annually2. Regulatory bodies such as the FDA are directing pharmaceutical companies to conduct clinical trials of human abuse liability (HAL) to evaluate drugs known to affect the central nervous system and assess their potential for abuse3.
A common issue in the running of HAL trials has been managing the volume of data generated due to the high number of assessments required. Furthermore the data is gathered over a short period of time and must be entered, reviewed and cleaned quickly before subjects can move on in the trial and data validation must be done in real time.
Until the introduction of Cantab Connect, patient assessments were typically conducted with time-consuming pen and paper questionnaires, which are prone to costly data errors. With touch-screen data entry, automatic scoring and cleaning combined with cloud-based storage, connectivity and real-time data access, Cantab Connect CTIS-AL accelerates the trial process by enabling multi-site studies to run efficiently and produces high quality, reproducible data leading to the rise in demand for the product.
Nick Kerton, Chief Executive Officer of Cambridge Cognition, said: "The immediate impact of Cantab Connect CTIS-AL shows there is a clear market need for enhanced assessment products and reinforces our decision to focus on clinical trials that deal with Human Abuse Liability, drug characterisation and safety. We expect to build on this rapid market acceptance as we continue to extend our portfolio of Cantab Connect products for cognitive assessments in clinical trials."
1National Drug Threat Assessment Summary, U.S. Drug Enforcement Administration, 2013
2 National Drug Threat Assessment Summary, U.S. Drug Enforcement Administration, 2014
3 Food Drug Administration Center for Drugs Evaluation Research (2010). Guidance for Industry: Assessment of Abuse Potential of Drugs, FDA Maryland.
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 |
Geoff Nash/ Simon Hicks |
(Corporate Finance) |
Malar Velaigam |
(Corporate Broking) |
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Walbrook PR Ltd |
Tel: 020 7933 8780 or [email protected] |
Paul McManus |
Mob: 07980 541 893 |
Lianne Cawthorne |
Mob: 07584 391 303 |
About Cambridge Cognition
Cambridge Cognition is a world leading provider of computerised cognitive assessment products. The company's range of touch-screen CANTAB™ neuropsychological tests, highly validated over one thousand peer-reviewed publications, are used by both academic scientists in their research, and clinical researchers in the pharmaceutical industry, to maximise knowledge of cognitive function. In addition, the company is committed to broadening the access to this technology and is developing clinical healthcare products under the Cantab mobile brand, to improve the monitoring, management and maintenance of cognitive health and wellbeing. Using these assessments, clinicians can identify and stratify patients so that patient referrals are accurate and efficient, enabling health and social care providers to deliver more effective advice, treatments and care - leading to better outcomes for patients and their families.
