Cambridge Cognition Holdings PLC Major contract win combining solutions (6994P)

TIDMCOG

RNS Number : 6994P

Cambridge Cognition Holdings PLC

11 October 2023

Cambridge Cognition Holdings Plc

(" Cambridge Cognition" or the "Company")

Major contract win combining Cambridge Cognition

and Winterlight solutions

Cambridge Cognition (AIM: COG), which develops and markets digital solutions to assess brain health, is pleased to announce 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(R) 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 GBP1 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."

Enquiries

 
Cambridge Cognition Holdings Plc              Tel: [phone] 
 Matthew Stork, Chief Executive Officer        [e-mail] 
 Stephen Symonds, Chief Financial Officer 
Panmure Gordon (UK) Limited (NOMAD and Joint  Tel: [phone] 
 Broker)                                       (Corporate Finance) 
 Freddy Crossley / Emma Earl                   (Corporate Broking) 
 Rupert Dearden 
Dowgate Capital Limited (Joint Broker)        Tel: [phone] 
 David Poutney / James Serjeant 
IFC Advisory Ltd (Financial PR and IR)        Tel: [phone] 
 Tim Metcalfe / Graham Herring / Zach Cohen 
 

Notes to editors

About Cambridge Cognition

Cambridge Cognition is a 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

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October 11, 2023 02:00 ET (06:00 GMT)