Cambridge Cognition Holdings PLC Major Contract Win and Funding Award (8247I)

TIDMCOG

RNS Number : 8247I

Cambridge Cognition Holdings PLC

26 March 2018

Cambridge Cognition Holdings Plc

('Cambridge Cognition' or the 'Company')

Major Contract Win and Funding Award

The digital neuroscience company Cambridge Cognition Holdings plc, (AIM: COG, 'the Company'), which develops and markets software products to improve brain health, announces the award of a major new pharmaceutical clinical trial contract and a Digital Health Catalyst grant from Innovate UK.

The new clinical trial contract is the larger of the two contracts, collectively totalling GBP2.3m, originally expected in the last quarter of 2017. This significant contract is for a multi-national Phase IV clinical study with a leading pharmaceutical company, which will have a material impact on the Company's 2018 and 2019 revenues. Cambridge Cognition will deliver the study's cognitive assessments, patient reported outcomes and clinician reported outcomes on its CANTAB Connect cloud software.

The Innovate UK grant will fund a pioneering new programme to develop a non-invasive digital biomarker to better predict who will benefit from a new type of personalised medication in schizophrenia, which affects more than 21 million people worldwide and is associated with large health and societal costs, estimated to be around GBP12 billion per year in the UK and $60 billion per year in the US.

In developing a new digital biomarker, the Company aims to demonstrate the ability to identify schizophrenia patients who will benefit from personalised medicines targeting a particular aspect of brain function and find people in the general population who are at risk, in order to help prevent schizophrenia cases in future.

This programme represents a significant step in the Company's strategic direction to become the global leader in digital neuroscience. Identifying underlying neurobiological issues to define a group of patients who will respond best to a new treatment would be of significant clinical and commercial value, improving patient quality of life and reducing the global societal cost of schizophrenia.

Dr. Steven Powell, Chief Executive Officer, at Cambridge Cognition said: "We are delighted to have been awarded this substantial clinical contract by our pharmaceutical partner to work with them to deliver this new study and we expect it to benefit our future revenues significantly. We are also delighted to be awarded the Innovate UK grant which will enable us to work even closer with our partners in the pharmaceutical industry to enhance their drug development pipelines and provide first in class personalised medicines for major health conditions like schizophrenia."

Enquiries

 
 Cambridge Cognition Holdings PLC 
  Steven Powell, Chief Executive          Tel: [phone] 
  Officer                                 700 
  Noah Konig, Director of Marketing       [e-mail] 
 finnCap Ltd (NOMAD and Joint Broker)   Tel: [phone] 
  Geoff Nash / Simon Hicks               0500 
  Alice Lane                             (Corporate Finance) 
                                         (Corporate Broking) 
 Dowgate Capital Stockbrokers Limited   Tel: [phone] 
  (Joint Broker)                         7715 
  David Poutney / James Serjeant 
 IFC Advisory Ltd (Financial PR         Tel: [phone] 
  and IR)                                6630 
  Graham Herring / Miles Nolan / 
  Zach Cohen 
 

About Cambridge Cognition

Cambridge Cognition is a digital neuroscience company developing software products to better understand, detect and treat brain health conditions. The company's cognitive technologies are used to accelerate the research and development of new treatments, enhance understanding of the brain and accurately assess cognitive health in patients worldwide.

For further information visit www.cambridgecognition.com

This information is provided by RNS

The company news service from the London Stock Exchange

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March 26, 2018 02:00 ET (06:00 GMT)