The neuroscience technology company Cambridge Cognition Holdings plc (LON: COG), which develops and markets neuroscience technologies to assess brain health, today announces a significant new contract providing digital health technologies to a major pharmaceutical company for application in a clinical stage development programme.
The contract is worth £1.3 million with revenue expected to be recognised over three years. It is the largest digital health contract signed since the Company created its commercial digital health business unit in 2017. This contract win adds to the healthy order book which now stands at approximately £7.0m giving good visibility for 2019 and beyond.
Cambridge Cognition’s technology will enable patients diagnosed with an autoimmune disorder to be followed during a clinical trial, completing cognitive testing both at site and remotely using a mobile testing platform for smartphones. This approach will provide the sponsor with data on individual day-to-day variability in cognitive performance that is otherwise difficult to capture and quantify. The platform will also integrate passive physiological data captured in real time on a wearable device, adding physical context for participants’ behaviours.
Dr Steven Powell, Chief Executive Officer, Cambridge Cognition Holdings plc said:
“Following the recent share placing to finance the expansion of our operations and strengthening of the balance sheet we are pleased to welcome another pharmaceutical partner to our growing client base which is utilising our innovative digital health technologies. This contract win underlines the importance of our continuing investment in development of digital health technologies in the neuroscience space. It also demonstrates the importance of building a European digital health team in the mould of our Boston based group and we can now do this following the successful financing round.”