Cambridge Cognition wins two contracts worth £2.1m

Brain health technology specialist Cambridge Cognition has won two contracts worth more than £2.1m, it announced on Wednesday.

The AIM-traded firm said the contracts would involve providing its ‘CANTAB’ cognitive assessments, and electronic Clinical Outcome Assessments (eCOA), for two pivotal trials for a rare disease.

It said the contracts were awarded by a new customer for the company, with revenues expected to be recognised over the next five years.

Participation in the trials would enable Cambridge Cognition to offer more insights into the use of digital cognitive assessments and eCOA solutions as part of rare disease trials, the board said, including how effective the methods are for use in long-term studies.

“Over the past five years, Cambridge Cognition has developed a unique offering for clinical trials of leading cognitive assessments - CANTAB - and electronic questionnaires - eCOA - in a single, easy-to-use platform,” said chief executive officer Matthew Stork.

“This, combined with our reputation for outstanding customer service and cutting-edge science, has enabled us to secure two large contracts with a new customer.

“These contracts will strengthen our presence in the rare disease field and showcase how our cognitive assessments can be used effectively in the development of symptom modifying treatments.”

At 1332 BST, shares in Cambridge Cognition Holdings were up 5.7% at 102p.

Reporting by Josh White for Sharecast.com.