Cambridge Cognition Holdings Plc (LON:COG), which develops and markets digital solutions to assess brain health, has announced that it has won a £2.2 million contract providing cognitive assessments and electronic diaries for a neurodegenerative disease trial. Revenue from the contract is expected over the next two financial years. This is a follow-on sale from a £2.1 million contract announced by the Company on 2 February 2022 with the same customer.
One person develops dementia every three minutes1, making neurodegenerative diseases a key target for drug development. To develop effective treatments, sensitive and specific cognitive assessments are essential as cognitive dysfunction is a hallmark of neurodegenerative diseases. With unrivalled use in over 2,500 peer-reviewed publications, and a reputation for excellent customer service, Cambridge Cognition has been selected as the cognitive assessment partner for this series of treatment trials.
In delivering the contract, Cambridge Cognition will provide the technology for a hybrid trial, combining in-clinic with at home cognitive assessments. This will enable the Company to offer more detailed insights into the development of disease over time and the efficacy of new pharmaceutical compounds.
Commenting, Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
“We are pleased to have further strengthened our relationship with this pharmaceutical customer that is committed to tackling neurodegenerative disease. Cambridge Cognition has a strong history of delivering cognitive assessments in the field, traditionally in clinics and now also at home. The quick succession of large contracts from this customer is a testament to both the efficacy of our products and quality of our service.”
References
1. https://www.alzheimers.org.uk/about-us/news-and-media/facts-media
