The listing valued Cambridge Cognition on admission at approximately £11.8m.
Cambridge Cognition is best known for its product CANTAB®, which has been used in more than 1000 peer-reviewed research studies, in more than 100 pharma clinical trials and to test cognitive functioning in an estimated 300,000 people across the world.
In addition, a new product CANTABmobile, launched last year, enables doctors to detect memory impairment via a ten-minute iPad assessment. It is part of a pilot project supported by the UK government’s BioMedical Catalyst fund which aims to reduce dramatically the waiting time to a dementia diagnosis.
Commenting, Ruth Keir, CEO of Cambridge Cognition Holdings plc, said: “Our move to AIM and the additional funding will accelerate the rollout of CANTABmobile™, our point of care cognitive test for GPs and dementia specialists. With nearly half of those in the UK with dementia being undiagnosed there is a huge policy shift towards early diagnosis and intervention and our technology is ideally placed to facilitate this.”
About Cambridge Cognition
Cambridge Cognition develops and commercialises computerised neuropsychological tests for sale worldwide, principally in the UK, the US and Europe.
Cambridge Cognition has created two well-established products, CANTABelect™ and CANTABeclipse™, which as standalone reportable segments have been profitable in each of the last three years. CANTABelect™ is for use in regulated clinical trials and CANTABeclipse™ is designed for use by researchers working in a non-regulated environment, typically in academia.
A third product, CANTABmobile™, was launched in the UK in May 2012, targeted at mainstream primary healthcare markets, in particular to enable the early detection of dementia.
The Directors intend to use funds raised in the Placing to grow sales of CANTABmobile™ and continue development of a similar product for secondary healthcare markets.
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For further information please contact Melanie Riley on 020 7936 2021 or email [email protected] or Sarah May at Bell Yard on 020 7936 2021 or email [email protected]
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