Cambridge Cognition Holdings PLC £1.3m digital health contract win (2182T)
March 19 2019 - 3:00AM
UK Regulatory
TIDMCOG
RNS Number : 2182T
Cambridge Cognition Holdings PLC
19 March 2019
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
GBP1.3m digital health contract win
The neuroscience technology company Cambridge Cognition Holdings
plc (AIM: COG), which develops and markets neuroscience
technologies to assess brain health, today announces a significant
new contract providing digital health technologies to a major
pharmaceutical company for application in a clinical stage
development programme.
The contract is worth GBP1.3 million with revenue expected to be
recognised over three years. It is the largest digital health
contract signed since the Company created its commercial digital
health business unit in 2017. This contract win adds to the healthy
order book which now stands at approximately GBP7.0m giving good
visibility for 2019 and beyond.
Cambridge Cognition's technology will enable patients diagnosed
with an autoimmune disorder to be followed during a clinical trial,
completing cognitive testing both at site and remotely using a
mobile testing platform for smartphones. This approach will provide
the sponsor with data on individual day-to-day variability in
cognitive performance that is otherwise difficult to capture and
quantify. The platform will also integrate passive physiological
data captured in real time on a wearable device, adding physical
context for participants' behaviours.
Dr Steven Powell, Chief Executive Officer, Cambridge Cognition
said: "Following the recent share placing to finance the expansion
of our operations and strengthening of the balance sheet we are
pleased to welcome another pharmaceutical partner to our growing
client base which is utilising our innovative digital health
technologies. This contract win underlines the importance of our
continuing investment in development of digital health technologies
in the neuroscience space. It also demonstrates the importance of
building a European digital health team in the mould of our Boston
based group and we can now do this following the successful
financing round".
The information communicated in this announcement contains
inside information for the purposes of Article 7 of the Market
Abuse Regulation (EU) No. 596/2014.
Enquiries
Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Officer Tel: 01223 810 700
Matthew Stork, Chief Operating Officer press@camcog.com
finnCap Ltd (NOMAD and Joint Broker) Tel: 020 7220 0500
Geoff Nash / Simon Hicks (Corporate Finance)
Alice Lane/Manasa Patil (ECM)
Dowgate Capital Stockbrokers Limited (Joint Tel: 020 3903 7715
Broker)
David Poutney / James Serjeant
IFC Advisory Ltd (Financial PR and IR) Tel: 020 3934 6630
Graham Herring / Miles Nolan / Zach Cohen
About Cambridge Cognition
Cambridge Cognition is a neuroscience technology company
developing digital health products to better understand, detect and
treat conditions affecting brain health. The company's software
products assess cognitive health in patients worldwide to improve
clinical trial outcomes, identify and stratify patients early, and
reduce global R&D and healthcare costs.
For further information visit www.cambridgecognition.com
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END
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