Cambridge Cognition Holdings PLC Major Contract Win and Funding Award (8247I)
26 March 2018 - 5:00PM
UK Regulatory
TIDMCOG
RNS Number : 8247I
Cambridge Cognition Holdings PLC
26 March 2018
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Major Contract Win and Funding Award
The digital neuroscience company Cambridge Cognition Holdings
plc, (AIM: COG, 'the Company'), which develops and markets software
products to improve brain health, announces the award of a major
new pharmaceutical clinical trial contract and a Digital Health
Catalyst grant from Innovate UK.
The new clinical trial contract is the larger of the two
contracts, collectively totalling GBP2.3m, originally expected in
the last quarter of 2017. This significant contract is for a
multi-national Phase IV clinical study with a leading
pharmaceutical company, which will have a material impact on the
Company's 2018 and 2019 revenues. Cambridge Cognition will deliver
the study's cognitive assessments, patient reported outcomes and
clinician reported outcomes on its CANTAB Connect cloud
software.
The Innovate UK grant will fund a pioneering new programme to
develop a non-invasive digital biomarker to better predict who will
benefit from a new type of personalised medication in
schizophrenia, which affects more than 21 million people worldwide
and is associated with large health and societal costs, estimated
to be around GBP12 billion per year in the UK and $60 billion per
year in the US.
In developing a new digital biomarker, the Company aims to
demonstrate the ability to identify schizophrenia patients who will
benefit from personalised medicines targeting a particular aspect
of brain function and find people in the general population who are
at risk, in order to help prevent schizophrenia cases in
future.
This programme represents a significant step in the Company's
strategic direction to become the global leader in digital
neuroscience. Identifying underlying neurobiological issues to
define a group of patients who will respond best to a new treatment
would be of significant clinical and commercial value, improving
patient quality of life and reducing the global societal cost of
schizophrenia.
Dr. Steven Powell, Chief Executive Officer, at Cambridge
Cognition said: "We are delighted to have been awarded this
substantial clinical contract by our pharmaceutical partner to work
with them to deliver this new study and we expect it to benefit our
future revenues significantly. We are also delighted to be awarded
the Innovate UK grant which will enable us to work even closer with
our partners in the pharmaceutical industry to enhance their drug
development pipelines and provide first in class personalised
medicines for major health conditions like schizophrenia."
Enquiries
Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Tel: 01223 810
Officer 700
Noah Konig, Director of Marketing press@camcog.com
finnCap Ltd (NOMAD and Joint Broker) Tel: 020 7220
Geoff Nash / Simon Hicks 0500
Alice Lane (Corporate Finance)
(Corporate Broking)
Dowgate Capital Stockbrokers Limited Tel: 020 3903
(Joint Broker) 7715
David Poutney / James Serjeant
IFC Advisory Ltd (Financial PR Tel: 020 3934
and IR) 6630
Graham Herring / Miles Nolan /
Zach Cohen
About Cambridge Cognition
Cambridge Cognition is a digital neuroscience company developing
software products to better understand, detect and treat brain
health conditions. The company's cognitive technologies are used to
accelerate the research and development of new treatments, enhance
understanding of the brain and accurately assess cognitive health
in patients worldwide.
For further information visit www.cambridgecognition.com
This information is provided by RNS
The company news service from the London Stock Exchange
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