10 April 2018
Cambridge Cognition Holdings Plc
('Cambridge Cognition' or the 'Company')
Recruitment contracts show strong growth
The digital neuroscience company Cambridge Cognition Holdings plc, (AIM: COG, 'the Company'), which develops and markets software products to assess brain health, is pleased to announce that its CANTAB Recruit software is now established in two major Phase III trials with one of the early adopters increasing its contract value twenty-four fold in the first year of use, totalling over £1.2m.
Patient recruitment amounts to approximately one third of the total costs in pharmaceutical clinical trials, with 80% of development programmes delayed due to unfulfilled enrolment numbers1. It is estimated that these subsequent delays cost sponsors up to $8m in lost revenues for each day a study is delayed2.
The CANTAB Recruit SaaS product allows sponsors to rapidly scale up their recruitment efforts without requiring participants to visit a study site or take part in more invasive testing, saving time and costs and delivering a more patient-centric recruitment experience.
Already confirmed in 2018, CANTAB Recruit software will be applied to two of the world's largest and most valuable drug trials to improve patient recruitment in Alzheimer's disease.
One of these trials started with an initial pilot study to assess the recruitment eligibility of 100 participants. Due to the success of the pilot, the sponsoring pharmaceutical company will now use CANTAB Recruit software to screen tens of thousands of participants globally which has seen the contract increase to twenty-four times its original value.
There are 139 clinical trials in the Alzheimer's disease treatment development pipeline alone, a 21% increase on the previous year3,4. This core market for Cambridge Cognition continues to grow. In addition, the Company is expanding the capabilities of its recruitment software for use in indications such as Schizophrenia and depression, further increasing the substantial market potential for the product.
Dr. Steven Powell, Chief Executive Officer, at Cambridge Cognition said: "Cambridge Cognition digital health software continues to enable pharmaceutical companies to collect high quality data in ways that improve R&D productivity. CANTAB Recruit is delivering high-value participant screening directly to end-users at scale and is part of the ongoing expansion of CANTAB products from simple endpoint testing to patient finding and patient population definition."
1 PharmaFile (2016). Clinical trials and their patients: The rising costs and how to stem the loss.
2 Cutting Edge Information (2004). Accelerating Clinical Trials: Budgets, Patient Recruitment and Productivity.
3 Cummings, J. et al (2017). Alzheimer's disease drug development pipeline: 2017. Alzheimer's & Dementia. Translational Research & Clinical Interventions, 3(3), 367-384.
4 Cummings, J. et al (2016). Alzheimer's drug-development pipeline: 2016. Alzheimer's & Dementia. Translational Research & Clinical Interventions, 2(4), 222-232.
Cambridge Cognition Holdings PLC
Steven Powell, Chief Executive Officer
Noah Konig, Director of Marketing
Tel: 01223 810 700
finnCap Ltd (NOMAD and Joint Broker)
Geoff Nash / Simon Hicks
Tel: 020 7220 0500
Dowgate Capital Stockbrokers Limited (Joint Broker)
David Poutney / James Serjeant
Tel: 020 3903 7715
IFC Advisory Ltd (Financial PR and IR)
Graham Herring / Miles Nolan / Zach Cohen
Tel: 020 3934 6630
About Cambridge Cognition
Cambridge Cognition is a digital neuroscience company developing software products to better understand, detect and treat brain health conditions. The company's cognitive technologies are used to accelerate the research and development of new treatments, enhance understanding of the brain and accurately assess cognitive health in patients worldwide.
For further information visit www.cambridgecognition.com
This information is provided by RNS