Cambridge Cognition wins phase 3 contract worth over £1m
Brain health technology developer Cambridge Cognition has won a contract worth just over £1m with an unnamed “top 10” pharmaceutical company, it announced on Monday, to provide digital cognitive assessments for a pivotal phase 3 autoimmune disease trial.
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The AIM-traded firm said revenue from the contract was expected over the next three years.
It said the company chose Cambridge Cognition as the cognitive assessment provider for its trial for its technology and infrastructure in delivering “rapid, sensitive cognitive assessments” at scale.
The trial aimed to recruit and test “hundreds” of participants across almost 40 countries.
“Phase 3 clinical trials are the large, final stage in drug development as pharmaceutical companies can use the results to seek regulatory approval,” said chief executive officer Matthew Stork.
“Cambridge Cognition is well positioned to deliver these pivotal, global trials with its gold standard solutions.
“Strategically, this contract sees the company operate in a high growth space with a leading pharmaceutical company that is committed to tackling diseases in this therapeutic area.”
At 1209 BST, shares in Cambridge Cognition Holdings were up 11.52% at 135.5p.