16 December 2021
Electronic Clinical Outcomes Assessment contract win worth over £500,000
Cambridge Cognition is pleased to announce that it has won a contract worth over £500,000 to provide electronic clinical outcome assessments ("eCOA").
Cambridge Cognition, which develops and markets digital solutions to assess brain health, is pleased to announce that it has won a contract worth over £500,000 to provide electronic clinical outcome assessments ("eCOA") to support a major pharmaceutical client (the "Client") in delivering a Phase II paediatric study over several years. This is the second eCOA contract Cambridge Cognition has secured with the Client in just over a year. The first was of a similar value and referenced in the Company's trading update on 30 June 2020.
To support the Client in establishing the safety and efficacy of a new drug, the Company will collect patients' and parents' experiences with electronic questionnaires, scales and diaries. This data will be collected both in clinics on iPads and at home on smartphones using Cambridge Cognition's eCOA system. Cambridge Cognition's experienced study management team will work closely with the Client to ensure successful use of the software and devices.
The provision of eCOA for clinical trials is a sizeable growth market, valued at over US$1bn per annum and growing at 15% according to market research reports1. Cambridge Cognition provides eCOA solutions primarily for clinical trials for central nervous systems disorders, such as Alzheimer's disease, although can also support other conditions.
Matthew Stork, Chief Executive Officer of Cambridge Cognition, said:
"At Cambridge Cognition, we pride ourselves on our customer service and I am pleased to see this recognised with repeat custom from a major pharmaceutical client. In addition, it is a success for our commercialisation strategy as it again shows that our eCOA solution can be a standalone product, as well as an upsell with cognitive assessments for clinical trials."
1. Grand View Research, Electronic Clinical Outcome Assessment Solutions Market, 2018