Cambridge Cognition Holdings PLC Contract (3877M)
October 13 2016 - 2:00AM
UK Regulatory
TIDMCOG
RNS Number : 3877M
Cambridge Cognition Holdings PLC
13 October 2016
13 October 2016
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Contracts signed in new drug development market
The neuroscience company Cambridge Cognition Holdings PLC
(Cambridge, UK - LSE: COG), which develops and markets near patient
technologies to facilitate the development of treatments for
neurological disorders, today announced a series of new contracts
worth over GBP0.25m to assess, through CANTAB Connect, the abuse
potential of investigational drugs in a new market application for
the Company.
Since launching its cloud-based CANTAB Connect software platform
in 2014, Cambridge Cognition has become the leading provider of
Human Abuse Liability (HAL) assessment technology(1) , helping the
Company's drug development partners to achieve multiple FDA
approved abuse deterrent labels.
To date the Company has signed 35 HAL contracts following the
launch of the CANTAB Connect Abuse Liability product (vs. 8 before
2014), with revenues totalling in excess of GBP3m (vs. GBP0.6m
before 2014) in a market which is expected to continue to grow.
The abuse of prescription drugs is the fastest growing drug
problem in North America. According to the National Institute on
Drug Abuse, an estimated 48 million people in the U.S. have used
prescription drugs for non-medical reasons.
With the rising number of compounds targeting the central
nervous system and tighter government regulation in place, clinical
trials assessing drug abuse potential are becoming more commonplace
and necessary.
These HAL trials require more time and resources than most Phase
I trials. The CANTAB Connect platform has been used to
significantly reduce data errors and increase efficiencies in these
studies, saving both time and cost for drug manufacturers.
The contracts announced today will use CANTAB Connect to assess
abuse potential in a new, unexplored and growing therapeutic area,
which is an extension of the HAL market targeted to date.
Steven Powell, PhD, Chief Executive Officer, Cambridge
Cognition: "Where labour-intensive, imprecise and error-prone
manual tests were used previously to measure drug effects, our
computerised solutions now improve trial efficiencies and optimise
the likelihood of success throughout all stages of drug
development. Human abuse liability studies play an increasingly
important role in this process and we look forward to supporting
new and existing partners and customers through our enlarged
commercial team as this market continues to grow."
(1) Abuse potential refers to a drug that is used in nonmedical
situations, repeatedly or even sporadically, for the positive
psychoactive effects it produces. These drugs are characterized by
their central nervous system (CNS) activity. Examples of the
psychoactive effects they produced include sedation, euphoria,
perceptual and other cognitive distortions, hallucinations, and
mood changes. Drugs with abuse potential often (but not always)
produce psychic or physical dependence and may lead to the disorder
of addiction.
Source: Guidance for Industry Assessment of Abuse Potential of
Drugs, Food and Drug Administration (FDA), 2010
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)
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
This information is provided by RNS
The company news service from the London Stock Exchange
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