Cambridge Cognition Holdings PLC GBP2m contract for three schizophrenia trials (5271X)
September 01 2020 - 2:00AM
UK Regulatory
TIDMCOG
RNS Number : 5271X
Cambridge Cognition Holdings PLC
01 September 2020
Cambridge Cognition Holdings Plc
("Cambridge Cognition" or the "Company")
GBP2m contract for three late phase schizophrenia trials
Cambridge Cognition Holdings plc (AIM: COG), which develops and
markets digital solutions to assess brain health, is pleased to
announce that it has won a GBP2m contract as the cognitive
assessment partner for three late phase clinical trials for a
pharmaceutical company's lead drug candidate for patients with
schizophrenia. It is one of the largest single contracts secured by
the Company and the revenue from the contract should be booked over
the next four years with the majority recognised in 2021.
Schizophrenia is a psychotic disorder that affects more than 20
million people worldwide(1) . With new avenues of research being
explored in recent years, more drugs have been launched (an
increase of 30% in five years(2) ) and there is increasing interest
in drug development in the field.
Cognitive impairment is a core feature of schizophrenia, with
deficits frequently observed in memory, attention and executive
functions. Given the importance of this disorder, schizophrenia has
been a core area of clinical focus for the Company for the last
three years as CANTAB(TM) cognitive assessments have a high degree
of sensitivity in measuring these distinct processes. The fact that
a pharmaceutical company has now chosen Cambridge Cognition as the
cognitive assessment provider for three late stage trials
recognises the investment that has been made in this field by the
Cambridge Cognition team.
The pharmaceutical company will conduct two five-week inpatient
trials of efficacy and safety of the drug as well as a 52-week
open-label extension study. Cambridge Cognition will support all
three trials with what the Company believes to be gold-standard
computerised cognitive assessment software, CANTAB(TM) , together
with associated clinical trial services.
Matthew Stork, Chief Executive Officer of Cambridge Cognition,
said:
"We are delighted to have won this contract, which is
considerably larger than our typical contract size, to support this
large trial and work with a company that recognises the importance
of sensitive and accurate cognitive assessment in schizophrenia. It
is an outstanding endorsement for CANTAB(TM) in this growing area
of research."
The information communicated in this announcement is inside
information for the purposes of Article 7 of EU Regulation
596/2014.
1. GBD 2017 Disease and Injury Incidence and Prevalence
Collaborators. Global, regional, and national incidence,
prevalence, and years lived with disability for 354 diseases and
injuries for 195 countries and territories, 1990-2017: a systematic
analysis for the Global Burden of Disease Study 2017. The Lancet;
2018 ( https://doi.org/10.1016/S0140-6736(18)32279-7 ).
2. Informa, PharmaProjects Database, accessed 25/08/2020 ( https://citeline.informa.com/drugs/trends?qId=b307f25a-bee3-4293-8dec-cc86727bfea5 )
For further information, contact:
Cambridge Cognition Holdings PLC Tel: 012 2381 0700
Matthew Stork, Chief Executive Officer press@camcog.com
Nick Walters, Chief Financial Officer
finnCap Ltd (NOMAD and Joint Broker) Tel: 020 7220 0500
Geoff Nash / Simon Hicks (Corporate Finance)
Alice Lane / Manasa Patil (Corporate Broking)
Dowgate Capital Limited (Joint Broker) Tel: 020 3903 7715
David Poutney / James Serjeant
IFC Advisory Ltd (Financial PR and IR) Tel: 020 3934 6630
Tim Metcalfe / Graham Herring / Zach Cohen
Notes to Editors
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
improve global efficiency in pharmaceutical and healthcare
industries.
For further information visit www.cambridgecognition.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
CNTSEDFWAESSEDA
(END) Dow Jones Newswires
September 01, 2020 02:00 ET (06:00 GMT)
Cambridge Cognition (LSE:COG)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cambridge Cognition (LSE:COG)
Historical Stock Chart
From Apr 2023 to Apr 2024