Cambridge Cognition Holdings PLC Contract signed (2374K)
September 20 2016 - 2:00AM
UK Regulatory
TIDMCOG
RNS Number : 2374K
Cambridge Cognition Holdings PLC
20 September 2016
20 September 2016
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
First contract signed for patient recruitment product
The neuroscience company Cambridge Cognition Holdings PLC
(Cambridge, UK - LSE: COG), which develops and markets near patient
technologies to facilitate early intervention and development of
treatments for neurological disorders, today announced that it has
secured the first contract for the recently launched CANTAB Recruit
product.
The drug development industry faces increasing challenges and
mounting costs in locating, identifying and recruiting cognitively
impaired subjects for clinical trials. This results in expensive
recruitment costs and delayed clinical trial completion. Patient
recruitment alone amounts to one third of total trial costs(1) with
80% of pharmaceutical development programmes being delayed due to
unfulfilled enrolment numbers(2) .
CANTAB Recruit is an online patient recruitment product
developed and launched by Cambridge Cognition to accelerate the
identification of qualified clinical trial participants in
high-need neurological indications. By pre-screening subjects
remotely with the Company's proprietary CANTAB(R) cognitive
assessments the product is expected to reduce the cost and time of
recruitment significantly for drug development companies and
research institutes.
The first CANTAB Recruit contract has been signed with one of
the world's largest biotechnology companies to support its patient
enrolment in a late-phase Alzheimer's disease trial, helping to
accelerate the development of a new drug treatment. Revenues will
be recognised in the current financial year.
The commercialisation of CANTAB Recruit represents a significant
milestone in the Company's provision of end-to-end neurocognitive
services for corporate partners to accelerate the development of
optimal treatments from proof of concept to post-marketing.
Steven Powell, PhD, Chief Executive Officer, Cambridge
Cognition: "As pharmaceutical development moves towards
preventative medicine, our customers and partners face a growing
challenge to find suitable subjects with neurological disease in
the early stages of cognitive decline. CANTAB Recruit will enrich
recruitment practices by reducing on-site screen failure rates,
saving sponsors substantial time and cost. With the number of drug
development programmes in Alzheimer's disease increasing, we
forecast that CANTAB Recruit will lead to significant opportunities
beyond this initial contract for the Company and its partners."
(1) Patient Recruitment and Clinical Vendor Fees Top Clinical
Trial Cost Drivers" Cutting Edge Info.
(2) Beasley, D. (2006). Recruiting Special Patient Populations.
Applied Clinical Trials.
Notes to editors
About Cambridge Cognition
Cambridge Cognition is an international neuroscience company
which develops and markets near patient cognitive assessment
products to improve the understanding, diagnosis and treatment of
neurological and psychiatric disorders.
For over 30 years the company's patented technology has advanced
the assessment of cognition to accelerate the development of safe
and effective treatments, improve patient outcomes and measure
cognitive health throughout life.
Partners include the world's leading biotechnology and
pharmaceutical companies, academic institutions and public-private
healthcare providers.
www.cambridgecognition.com
Enquiries
Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Tel: 01223 810
Officer 700
Noah Konig, Director of Product press@camcog.com
Marketing and Communications
finnCap Ltd (NOMAD and Joint Broker) Tel: 020 7220
0500
Geoff Nash / Simon Hicks (Corporate Finance)
Alice Lane (Corporate Broking)
Hybridan LLP (Joint Broker) Tel: 020 3764
2341
Claire Noyce (Corporate Broking)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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