Cambridge Cognition selected as cognitive assessment partner for large at-home study

Cognitive assessment software provider Cambridge Cognition has been selected as the cognitive assessment partner for a large at-home study, its second such award in the last two months.

Cambridge Cognition said on Monday that the new contract was valued at £2.2m, with revenue expected to be recognised by the company over three years beginning in the second half of the 2021 trading year.

In delivering the contract, the AIM-listed firm will deploy web-based cognitive assessments on a monthly basis.

Chief executive Matthew Stork said: "As widely predicted, the Covid-19 pandemic has accelerated interest in virtual clinical trial assessments and Cambridge Cognition is well-positioned to benefit from the consequent substantial growth opportunities. We are pleased to have secured another large contract for a virtual clinical trial where we will be working with a leading pharmaceutical company in the sector.

“The company has established a robust science foundation and an excellent customer service record and this combination continues [to] be rewarded by securing contracts for the growing field of virtual clinical trials."

As of 1115 BST, Cambridge Cognition shares had rallied 19.56% to 164.40p.