Cambridge Cognition Holdings Plc (LON:COG), which develops and markets digital solutions to assess brain health, has announced that it has been awarded contracts for two clinical trials by a top 20 pharmaceutical company to assess the pro-cognitive effects of a new drug in schizophrenia. Together the contracts are worth £700,000 over two years. This is the second pharmaceutical client to award Cambridge Cognition major contracts for cognitive assessments for schizophrenia in the last year1. Approximately 30 clinical trials on new drugs for schizophrenia run every year2, demonstrating the potential for further sales in this therapeutic area.
Cambridge Cognition offers cognitive assessments with the sensitivity to measure the distinct cognitive processes impaired in schizophrenia, including memory, attention and executive function. Between September 2020 and December 2021, the Company was contracted for six pivotal trials for another client’s new schizophrenia drug1, earning Cambridge Cognition a reputation in the field for delivering highly sensitive cognitive assessments. Now, this new client, a top 20 pharmaceutical company has contracted Cambridge Cognition to determine the efficacy of its new drug for improving cognition in patients with schizophrenia and another indication. Cambridge Cognition will provide its proprietary cognitive assessments (CANTABTM), its electronic questionnaires and scales platform (eCOA), and specialist, study management services.
Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
“It is excellent news that we have secured another top 20 pharmaceutical company as a new client and that we are conducting more clinical trials for patients with schizophrenia, which is a therapeutic area we are targeting for growth. We are pleased with this client win which continues the very positive momentum in the business and further improves our revenue visibility.”
1. Announced by the Company on 1 September 2020, 30 March 2021, 26 October 2021 and 9 December 2021
2. TrialTrove search of industry sponsored PhII – IV Schizophrenia Trials 2011 – 2021