Cambridge Cognition wins 'significant' new clinical trial contract

Neuroscience technology company Cambridge Cognition Holdings has won a “significant” new clinical trial contract, it announced on Wednesday, which it said was the largest in a series of recently-signed electronic clinical outcomes assessment (eCOA) trials.

The AIM-traded firm said the contract was worth more than $0.75m with a new client for the company - an unnamed specialty pharmaceutical developer - over a one-year period.

It said it was the largest of a number of eCOA contracts won since Cambridge Cognition decided to increase the value of its software service by expanding the capabilities of its ‘CANTAB Connect’ platform.

The technology now enabled the assessment of multiple outcomes, in addition to cognitive measures, on a single platform, the board explained.

It said the latest contract was for a phase IV trial which would use Cambridge’s “robust” eCOA technology to evaluate treatment safety and tolerability with objective computerised cognitive assessments and additional clinician-reported outcome measures delivered to patients on touchscreen devices.

Performing multiple outcome assessments on the validated CANTAB Connect platform integrated data collection, reduced administrative burden and saved costs for study sites, while improving data quality throughout the trial, Cambridge Cognition reported.

“We are pleased to welcome another pharmaceutical partner to the growing number who trust our neuroscience technologies with the collection and analysis of valuable patient data,” said Cambridge Cognition chief executive officer Dr Steven Powell.

“In 2018 we took the strategic decision, based on customer input, to enable clients to mitigate risks and reduce operational costs by measuring more outcomes on our proven CANTAB Connect platform.

“This series of recent contract wins further validates the company's strategy and demonstrates our ability to translate customer requirements into revenue rapidly.”