1st Sep 2020 11:57
(Alliance News) - Cambridge Cognition Holdings PLC on Tuesday said it has won a GBP2 million contract as the cognitive assessment partner for three late phase clinical trials for a schizophrenia treatment developed by an unnamed pharmaceutical company.
The developer and marketer of neuroscience technology stated the contract is one of the largest single contracts secured by the company, adding that revenue from the contract should be booked over the next four years with the majority recognised in 2021.
The pharmaceutical company will conduct two five-week inpatient trials of efficacy and safety of the drug as well as a 52-week open-label extension study. Cambridge Cognition will support all three trials with its computerised cognitive assessment software CANTAB, together with associated clinical trial services.
"We are delighted to have won this contract, which is considerably larger than our typical contract size, to support this large trial and work with a company that recognises the importance of sensitive and accurate cognitive assessment in schizophrenia. It is an outstanding endorsement for CANTAB in this growing area of research," said Cambridge Cognition Chief Executive Matthew Stork.
Shares in Cambridge Cognition were trading 9.8% higher at 43.35 pence each at midday Tuesday in London.
By Ife Taiwo; [email protected]
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