Cambridge Cognition Holdings plc (LON:COG), which develops and markets digital solutions to assess brain health, has announced that it has won a contract with a new pharmaceutical client to provide cognitive assessments in an at-home clinical trial. The contract is worth approximately £0.5 million with most of the revenue expected to be recognised in 2021.
The COVID-19 pandemic has accelerated interest in virtual or decentralised clinical trials, with more assessments being planned at home and therefore out of the clinic setting. To date there are just under 2,500 publications validating the Company’s CANTAB™ cognitive assessments. While CANTAB™ has been used for many years in clinics, with the assessment being overseen by clinical staff, use at home has been growing, supported by evidence showing that performance is comparable.1
This clinical trial aims to use CANTAB™ to assess patients’ cognition from the comfort of their homes. The trial is being sponsored by a leading pharmaceutical company with a pipeline of CNS drugs that the Company anticipates may benefit from cognitive assessments.
Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
“We are delighted to have secured this contract and to be supporting another major pharmaceutical company to assess cognition in patients’ homes. This is a trend that we expect to continue and will therefore provide more growth opportunities for Cambridge Cognition in the future.”
1. Backx R, Skirrow C, Dente P, Barnett JH, Cormack FK. Comparing Web-Based and Lab-Based Cognitive Assessment Using CANTAB™. J Med Internet Res 2020;22(8):e16792. doi: 10.2196/16792