Cambridge Cognition (LON:COG), which develops and markets digital solutions to assess brain health, has announced that it has secured a significant contract for a sizeable later stage clinical trial, following a competitive tender. The contract combines the Company’s proprietary CANTAB® touch-screen cognitive assessments with verbal assessments from its recent Winterlight Labs acquisition, for the first time. Additionally, the Company will supply its electronic Clinical Outcome Assessments (“eCOA”) and provide full training for clinicians, together with quality control services.
This initial contract is valued at approximately £1 million and revenue is expected to be recognised over a two-year period, starting in 2023. There is potential for a further contract with the same customer, of slightly higher value, in 2024 once the initial results have been analysed from this trial.
Cambridge Cognition and its Winterlight business are recognised as world leaders in accurate cognitive assessment for neurodegenerative disease trials. Having acquired Winterlight in January 2023, Cambridge Cognition developed an integrated front-end within the first few months post-acquisition and now offers the broadest proprietary solution for touchscreen and voice assessments in clinical trials. Cambridge Cognition is the only company that can offer this unique set of cognitive assessments and eCOA as a single vendor solution.
Commenting, Matthew Stork, Chief Executive Officer of Cambridge Cognition said:
“Cambridge Cognition acquired Winterlight to have the broadest offering on the market. With this contract win, we are realising the benefits of the acquisition. We’re excited to be providing full clinical assessment services for a large clinical trial to a new customer, that we would have been unlikely to win without having made the Winterlight acquisition. We can expect to win more contracts like this over time as we continue to commercialise the combined solutions.”
