LONDON (ShareCast) - (Sharecast News) - Neuroscience technology company Cambridge Cognition Holdings announced a "significant" new contract on Tuesday, providing its digital health technologies to a major pharmaceutical company for application in a clinical stage development programme.
The contract was worth £1.3m, with revenue expected to be recognised over three years, with the company not naming the client.

It said it was the largest digital health contract signed since Cambridge Cognition created its commercial digital health business unit in 2017.

The contract win added to the "healthy" order book, which the board said now stood at approximately £7.0m, giving good visibility for 2019 and beyond.

Cambridge Cognition said its technology would enable patients diagnosed with an autoimmune disorder to be followed during a clinical trial, completing cognitive testing both at site and remotely using a mobile testing platform for smartphones.

That approach would provide the sponsor with data on individual day-to-day variability in cognitive performance that was otherwise difficult to capture and quantify.

The platform would also integrate passive physiological data captured in real time on a wearable device, adding physical context for participants' behaviours.

"Following the recent share placing to finance the expansion of our operations and strengthening of the balance sheet we are pleased to welcome another pharmaceutical partner to our growing client base which is utilising our innovative digital health technologies," said Cambridge Cognition chief executive officer Dr Steven Powell.

"This contract win underlines the importance of our continuing investment in development of digital health technologies in the neuroscience space.

"It also demonstrates the importance of building a European digital health team in the mould of our Boston based group and we can now do this following the successful financing round."

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE