Cambridge Cognition Holdings Plc (LON:COG), which develops and markets digital solutions to assess brain health, has announced that it has been awarded contracts worth £2.1 million to provide cognitive assessments, electronic diaries, and third-party hardware for two clinical trials in neurodegenerative disease. Revenue is expected over the next three financial years.
Neurodegenerative disease represents a major global medical need. If treatments are not developed soon, then it is estimated that more than 12 million Americans will be living with neurodegenerative diseases by 20501. Cognitive dysfunction is a hallmark of many neurodegenerative diseases and so sensitive and specific cognitive assessment are essential in developing effective treatments. With unrivalled use in over 2,500 peer-reviewed publications, Cambridge Cognition’s digital cognitive assessments offer customers outstanding sensitivity and specificity.
A US biotechnology company that has worked with Cambridge Cognition previously is investigating the effect of a new drug in two neurodegenerative diseases. With some data being collected in clinic and further insights taken at home, these two clinical trials are being run in a hybrid or part-virtual manner.
Cambridge Cognition has been contracted to deliver both elements: providing gold-standard, computerized cognitive assessments (CANTABTM) for use in clinics, as well as daily tests of cognition and a patient diary to track other symptoms via a mobile app. This blend of in-clinic and at home monitoring can provide much more detailed insights into the development of disease over time and the efficacy of new pharmaceutical compounds. The electronic diaries for the trials are being provided using the Company’s electronic Clinical Outcomes Assessment (eCOA) platform. The Company is also providing third party hardware for use in clinics and at home.
Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
“We are delighted to have secured these sizeable contracts with an existing client as they progress with further clinical trials of their new drug. They already have an experience of CANTAB™ and so it is also excellent news that our team have been successful in demonstrating the value of both our daily cognitive tests and our eCOA platform, and with it considerably increasing the value of the contracts.”